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12 Corte De Vega San Clemente, CA 92673

3 Beds 3 Baths 2,297 sqft Built 2002

$945,000

List Price

$3,840

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $411.41
  • 2 Days on Market
  • MLS # : OC20230697
  • Updated Date : 11/02/2020 at 08:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 3 full
Listing Agent

Greentree Properties

Listing Agent's Description

Located in the gated Talega Gallery 55+ community, this stunning home is approximately 2300 sq ft of living space with 3 bedrooms and 3 baths. Located on a quiet cul-de-sac street, this is the perfect floorplan as the main living spaces are all on one level! The kitchen has been upgraded with Quartz counter tops, tile backsplash, and stainless steel appliances including a farmhouse sink. Entering the main floor master suite you are drawn to the renovated en-suite which includes his/her sinks, marble counter-tops, a HUGE glass enclosed stall shower w/ seat & dual shower heads and walk-in closet w/ mirrored doors. The first floor is complete with a guest bedroom, full bath, laundry room & access to the attached 2-car garage. Take the stairs and you enter into an amazing loft (third bedroom). A full bathroom is shared w/ the attached office which has a built-in wrap-around desk & cabinetry plus an additional built-in island desk. Enjoy amazing views of the canyon from the rear yard with custom sitting areas and hardscape. This home includes all the wonderful amenities and social activities for Gallery residents. The clubhouse features an outdoor lounge, fitness center, multi meeting & activity rooms, bocce ball, croquet field, pickleball court, putting green and a gorgeous pool and spa. The Gallery overlooks an 18- hole golf course designed by Fred Couples. Additionally, the Gallery homeowners can enjoy all the other amenities throughout Talega!

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: Talega

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1091k

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

Neighborhood: Talega

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19814763

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

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Vista Del Mar Elementary School Primary Regular 1,118 36 9
Vista Del Mar Middle School Middle Regular 614 25 9
San Clemente High School High Regular 3,036 107 9

Vista Del Mar Elementary School

  • Education Level: Primary
  • # of students: 1,118
  • # of teachers: 36
9
GreatSchools Rating

Vista Del Mar Middle School

  • Education Level: Middle
  • # of students: 614
  • # of teachers: 25
9
GreatSchools Rating

San Clemente High School

  • Education Level: High
  • # of students: 3,036
  • # of teachers: 107
9
GreatSchools Rating
 

$850,500$1,039,500$945,000

PURCHASE PRICE

$3,456$4,224$3,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,840
EXPENSES Loan Payment -$3,487
Property Tax -$954
Property Insurance -$83
HOA -$230
Property Management Fees -$188
CASH FLOW
-$1,101

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$945,000

PROJECTED PRICE

$3,840

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$256,175

INVESTMENT

$256,175

Down Payment
$236,250
Rehab Estimate
$5,750
Closing Costs
$14,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,487

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $236,250
Loan Amount $708,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$2,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,840

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $4,112

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,7003$3,8404$4,5005$4,900
$4,900
RENT COMPS ANALYSIS
  • 12 Corte De Vega San Clemente, CA 3
    • 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,840
    • $1.67
    •  
  • 104 Paseo Vista San Clemente, CA 1
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.69
    •  
  • 94 Paseo Rosa San Clemente, CA 2
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 2003
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.90
    •  
  • 12 Avenida Reflexion San Clemente, CA 4
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2000
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.70
    •  
  • 17 Paseo Canos San Clemente, CA 5
    • 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 2007
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $1.87
    •  
PROPERTY LISTING DETAILS
Kevin Hood
Greentree Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20230697
Last Updated: 11/02/2020
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