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1320 Felipe #36 San Clemente, CA 92673

3 Beds 3 Baths 1,228 sqft Built 1985

$786,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $640.07
  • 22 Days on Market
  • MLS # : OC21134375
  • Updated Date : 07/10/2021 at 04:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

A Must see home, one of a kind area Tocayo Canyon Mediterranean home located in the exclusive enclave of Forster Ranch, loaded with community amenities. This quaint 1228 SF, 3 Bedroom 2.5 Bath home is ready for its next family, located on a 3000 SF lot. Convenient downstairs Master Retreat end suite with ample storage, guest bath, living room, dining and kitchen area all open to the private back yard. Two spacious bedrooms upstairs with Jack and Jill, ana a home office and or study alcove. This home is close parks, pools, walking trails and shopping. Easy freeway access and ample guest parking. Very quiet and friendly area. This area is a very desirable area of San Clemente.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

PRICE & RENT TRENDS

Neighborhood: Forster Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1085k

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

Neighborhood: Forster Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19814177

* 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
Truman Benedict Elementary School Primary Regular 677 22 8
Bernice Ayer Middle School Middle Regular 896 33 6
San Clemente High School High Regular 3,036 107 9

Truman Benedict Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 22
8
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
 

$707,400$864,600$786,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,730
Property Tax -$665
Property Insurance -$57
HOA -$146
Property Management Fees -$146
CASH FLOW
-$773

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.

$786,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$214,040

INVESTMENT

$214,040

Down Payment
$196,500
Rehab Estimate
$5,750
Closing Costs
$11,790

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $196,500
Loan Amount $589,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,418

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $2.42

    LIST RENT PER SQFT
  • $2,517

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9703$3,000
$3,000
RENT COMPS ANALYSIS
  • 1320 Felipe San Clemente, CA 2
    • 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $2.42
    •  
  • 2808 Camino Capistrano San Clemente, CA 1
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1975
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.08
    •  
  • 3805 Calle La Quinta San Clemente, CA 3
    • 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 1975 3 beds 3 baths ∙ 1,484 Sqft ∙ Built 1975
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.02
    •  
PROPERTY LISTING DETAILS
Pat Mercuri
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21134375
Last Updated: 07/10/2021
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