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177 Chaumont Circle Lake Forest, CA 92610

3 Beds 2 Baths 1,104 sqft Built 1994

$469,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $425.63
  • 3 Days on Market
  • MLS # : OC21014476
  • Updated Date : 01/23/2021 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,104 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful single level 3 bedroom, 2 bath condo in a nice private location in lovely Foothill Ranch. Recently painted, new flooring and both baths have been upgraded. Large living room with fireplace and dining area adjacent to kitchen with plenty of cabinet space and with laundry area. There are two secondary bedrooms with an upgraded secondary bathroom with tub shower. The condo boasts a larger master suite with a large walk-in closet and recently upgraded bath. One car garage with direct entry to condo plus one designated parking area. There is a large fenced area off the front of the condo leading out to a large green belt area. Beautiful. Serene. There is also plenty of parking. Good community. Good school district. No Mello Roos!

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: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19033818

* 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
Foothill Ranch Elementary School Primary Regular 1,100 38 8
Foothill Ranch Elementary School Middle Regular 1,100 38 8
Trabuco Hills High School High Regular 2,960 112 9

Foothill Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Foothill Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,632
Property Tax -$403
Property Insurance -$54
HOA -$240
Property Management Fees -$113
CASH FLOW
-$132

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.

$469,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$17,515

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,310
1$2,3102$2,4003$2,5504$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 177 Chaumont Circle Lake Forest, CA 1
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $2.09
    •  
  • 339 Chaumont Circle Lake Forest, CA 2
    • 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,104 Sqft ∙ Built 1996
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.17
    •  
  • 19551 Arezzo Street Lake Forest, CA 3
    • 3 beds 3 baths ∙ 1,214 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,214 Sqft ∙ Built 1994
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $2.10
    •  
  • 28376 Pueblo Drive Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1992
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.07
    •  
  • 28416 Pueblo Drive Lake Forest, CA 5
    • 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,256 Sqft ∙ Built 1990
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $2.07
    •  
PROPERTY LISTING DETAILS
Betty Callaway
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014476
Last Updated: 01/23/2021
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