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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $417.64
- 8 Days on Market
- MLS # : LG21015707
- Updated Date : 01/30/2021 at 21:34
CONSTRUCTION
- Beds : 4
- Floor Size : 2,993 sqft
- Baths : 3 full
Listing Agent
First Team Estates
Listing Agent's Description
Welcome to the family neighborhood of Mesa Verde Collection, this turnkey family home was built in 2001 and has 4 bedrooms + office and 3 full baths. As you enter you are greeted by a formal living and dining room & as you continue through the home you come to the great room, complete with an open upgraded kitchen with granite countertops, stainless steel appliances, dual ovens, a spacious walk in pantry & large center island. Marble floors with a diamond inlay run throughout the downstairs living area. There are plenty of windows throughout the home providing an open feeling with lots of natural light. There is a downstairs bedroom with full bathroom perfect for a guest room or a mother-in-laws retreat. Upstairs there are 4 bedrooms including the generously oversized master bedroom with a huge master bathroom. The backyard has lots of space for kids to place or pets to roam. The 3 car garage has epoxy coated flooring and the 3rd space is set up as a man cave with TV and ceiling fan. The home is located down the street from the community pool and playground. Close to freeways, restaurants and shopping; this home is perfect for any family!
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MARKET HIGHLIGHTS
- 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]
- 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)
PRICE & RENT TRENDS
Neighborhood: Mesa Verde
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mesa Verde
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,890 |
| EXPENSES | Loan Payment | -$4,342 |
| Property Tax | -$1,174 | |
| Property Insurance | -$99 | |
| HOA | -$140 | |
| Property Management Fees | -$240 | |
|
CASH FLOW
-$1,104
|
||
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.
$1,250,000
PROJECTED PRICE
$4,890
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$337,000
LOAN DETAILS
$4,342
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $312,500 |
| Loan Amount | $937,500 |
1.5
YEARS SAVED
$11,109
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,890
LIST RENT -
$1.63
LIST RENT PER SQFT
-
$5,387
COMP ESTIMATED VALUE -
$1.8
COMP AVG. RENT PER SQFT
Comps Range
-
1573 Amberleaf Costa Mesa, CA 2
- 4 beds 3 baths ∙ 2,993 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,993 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $4,890
- $1.63
-
1634 Beechwood Costa Mesa, CA 1
- 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2001
LEASED 06/19/20- Rent
- Rent Per SQFT
- $4,750
- $1.80
PROPERTY LISTING DETAILS
First Team Estates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: LG21015707
Last Updated: 01/30/2021
