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17065 Mount Lomina Court Fountain Valley, CA 92708

4 Beds 3 Baths 1,881 sqft Built 1977

$699,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $371.61
  • 7 Days on Market
  • MLS # : OC20230971
  • Updated Date : 12/12/2020 at 12:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,881 sqft
  • Baths : 3 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Rare 4 bedroom townhome with 2.75 bathrooms in Fountain Valley. One bedroom and bath downstairs. Remodeled kitchen with new cabinets plus a pantry, quartz counters, custom backsplash, and stainless appliances. Custom tile floors in kitchen. Window overlooks spacious back patio. Remodeled 3/4 bathroom downstairs with shower, newer vanity and linen cabinet. The bedroom downstairs has a view of the courtyard. A separate family room with a wet bar opens to the kitchen. The living room has vaulted ceilings and a brick fireplace. The formal dining room has access to the backyard. Three bedrooms upstairs. The large master suite offers vaulted ceilings and a walk-in closet. Spacious master bathroom with double sinks and large bathtub. Skylight makes the home light and bright. Gated front courtyard and brick patio in the back with gated access to large greenbelt behind the home. Two car garage with driveway with a cul-de-sac location. Central Air conditioning. A small community of 44 units with a pool/spa and clubhouse.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k816k

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

Neighborhood: Fountain Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2180020002200240026002800300032003400Rent in $17723435

* 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
Northcutt Elementary School Primary Regular 638 23 5
Fitz Intermediate School Middle Regular 675 24 5
Los Amigos High School High Regular 1,787 74 5

Northcutt Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 23
5
GreatSchools Rating

Fitz Intermediate School

  • Education Level: Middle
  • # of students: 675
  • # of teachers: 24
5
GreatSchools Rating

Los Amigos High School

  • Education Level: High
  • # of students: 1,787
  • # of teachers: 74
5
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$2,579
Property Tax -$696
Property Insurance -$73
HOA -$354
Property Management Fees -$163
CASH FLOW
-$544

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.

$699,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$11,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,616

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3203$3,4004$3,5005$3,595
$3,595
RENT COMPS ANALYSIS
  • 17065 Mount Lomina Court Fountain Valley, CA 2
    • 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1977 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $1.77
    •  
  • 16309 San Jacinto Street Fountain Valley, CA 1
    • 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,626 Sqft ∙ Built 1967
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.03
    •  
  • 10869 La Terraza Avenue Fountain Valley, CA 3
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1967
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.91
    •  
  • 16562 Mount Neota Street Fountain Valley, CA 4
    • 5 beds 3 baths ∙ 1,844 Sqft ∙ Built 1972 5 beds 3 baths ∙ 1,844 Sqft ∙ Built 1972
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.90
    •  
  • 16179 Livingstone Street Fountain Valley, CA 5
    • 4 beds 4 baths ∙ 1,946 Sqft ∙ Built 1972 4 beds 4 baths ∙ 1,946 Sqft ∙ Built 1972
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,595
    • $1.85
    •  
PROPERTY LISTING DETAILS
Kristina Lightman
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20230971
Last Updated: 12/12/2020
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