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13 Optima San Clemente, CA 92672

3 Beds 3 Baths 1,812 sqft Built 1989

$915,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $504.97
  • 22 Days on Market
  • MLS # : OC21017843
  • Updated Date : 03/05/2021 at 13:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

Spring is just weeks away, the days are starting to get a little longer, & the promise of brighter days ahead is here .... 13 Optima is the epitome of all things Spring - light, bright, & happy perfectly describe this beautiful coastal residence! Offering 3 bedrooms/2.5 baths in over 1800 sq. ft., your new home comes w/coveted yard space, generous side yard & front yard areas, & even the promise of OCEAN VIEWS from a future deck. The kitchen has been opened up to the main level living area & finished w/crisp white cabinetry, quartz counters, Carrera marble backsplash, & stainless steel appliances. Beautiful wide-plank ash gray laminate wood flooring runs throughout both levels of the home. Updated lighting adds to the bright contemporary feel. Upstairs you will find 2 spacious guest bedrooms w/an updated guest bath & a very private master retreat w/en-suite, walk-in closet, & lovely deck offering trees views. The private backyard space offers plenty of space for time w/family & friends & opportunity to create even more entertaining space & ocean views w/a potential deck over the patio cover. There’s no shortage of storage space in your new home not only inside but outside as well, w/a rare additional side yard. Richmond Pointe is part of the ocean view master-planned community of Rancho San Clemente, close to schools & parks, access to miles of stunning trails along the famed Ridgeline Trail, & minutes to beaches & freeways… your best life starts here!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho San Clemente

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $243k1085k

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

Neighborhood: Rancho San Clemente

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200Rent in $18444221

* 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
Clarence Lobo Elementary School Primary Regular 417 15 5
Bernice Ayer Middle School Middle Regular 896 33 6
San Clemente High School High Regular 3,036 107 9

Clarence Lobo Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 15
5
GreatSchools Rating

Bernice Ayer Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 33
6
GreatSchools Rating

San Clemente High School

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

$823,500$1,006,500$915,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,178
Property Tax -$775
Property Insurance -$71
HOA -$88
Property Management Fees -$173
CASH FLOW
-$745

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.

$915,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.0%
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$248,225

INVESTMENT

$248,225

Down Payment
$228,750
Rehab Estimate
$5,750
Closing Costs
$13,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,178

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $228,750
Loan Amount $686,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$11,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $3,538

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,4003$3,5404$3,7005$3,900
$3,900
RENT COMPS ANALYSIS
  • 13 Optima San Clemente, CA 3
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.95
    •  
  • 31 Optima San Clemente, CA 1
    • 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,825 Sqft ∙ Built 1990
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.81
    •  
  • 3 Optima San Clemente, CA 2
    • 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,799 Sqft ∙ Built 1989
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.89
    •  
  • 721 Via Nublado San Clemente, CA 4
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1985
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.02
    •  
  • 32 Finca San Clemente, CA 5
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 1989
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $2.09
    •  
PROPERTY LISTING DETAILS
Michelle Wilson
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21017843
Last Updated: 03/05/2021
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