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1079 Cheyenne Street Costa Mesa, CA 92626

5 Beds 3 Baths 1,954 sqft Built 1963

$999,000

List Price

$3,820

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $511.26
  • 3 Days on Market
  • MLS # : OC21029720
  • Updated Date : 02/12/2021 at 15:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,954 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Don’t miss this rare, remodeled 5 bedroom, all on one level! Appointed with luxury, vinyl plank you’ll swear is wood, travertine tile, fresh, modern paint scheme, recessed lighting and all those bedrooms are waiting for you to call this one home! Enjoy the warmth of family and friends gathered around the large kitchen island where you can showcase your chef skills on the pro, Jennaire, 6 burner range! There’s a built-in, full size, double door fridge and freezer, plus granite counters, cabinets with multiple pull-out options and deep drawer storage. Open to the family room, you won’t miss a thing and the dining room is adjacent. All this living space opens to the backyard with a pool, stamped concrete, covered patio and hot tub accessed through sliding doors. All bedrooms have the easy-care vinyl plank flooring, some with closet organizers. The shared full hall bath is also remodeled and has a tub/shower combo. The owners bedroom is separate from the others with a lux ensuite bath with a separate, jetted tub, dual pedestal sinks and separate shower. You’ll also enjoy plantation shutters, AC, cement tile roof, plus the garage has an epoxy finished floor and some built in cabinets. Close by world class shopping and entertainment at South Coast Plaza, the trendy LAB and The Camp plus easy access to 405/55/73 freeways. Hurry! This one will go fast!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
  • The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
  • Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
  • Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
  • Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
  • Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Mesa North

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k841k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mesa North

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400Rent in $18443537

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,438$4,202$3,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,820
EXPENSES Loan Payment -$3,470
Property Tax -$975
Property Insurance -$74
Property Management Fees -$187
CASH FLOW
-$886

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$999,000

PROJECTED PRICE

$3,820

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,972

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $3,820

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,972

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$3,820
1$3,8202$3,8503$3,8504$3,8755$3,900
$3,900
RENT COMPS ANALYSIS
  • 1079 Cheyenne Street Costa Mesa, CA 1
    • 5 beds 3 baths ∙ 1,954 Sqft ∙ Built 1963 5 beds 3 baths ∙ 1,954 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $3,820
    • $1.95
    •  
  • 3136 Coolidge Avenue Costa Mesa, CA 2
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1964
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.18
    •  
  • 964 Lansing Lane Costa Mesa, CA 3
    • 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.04
    •  
  • 996 Azalea Drive Costa Mesa, CA 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.94
    •  
  • 954 Carnation Avenue Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.97
    •  
PROPERTY LISTING DETAILS
April Armendariz
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21029720
Last Updated: 02/12/2021
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