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1811 Coastal Way Costa Mesa, CA 92627

3 Beds 4 Baths 1,873 sqft Built 2014

$978,000

List Price

$3,910

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $522.16
  • 6 Days on Market
  • MLS # : PW21032412
  • Updated Date : 02/18/2021 at 13:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full , 2 half
Listing Agent

The Brokeredge

Listing Agent's Description

Welcome to Sea House, a magnificent urban community in a prime coastal location providing unobstructed Catalina ocean views. From the rooftop deck residents enjoy serene coastal sunsets from the West, city views to the North and East, nightly Disneyland fireworks displays, and in the Winter views of snow capped mountains, truly a unique 360 degree view experience. This detached single family home is 3 bedrooms plus an office, situated away from traffic noise, and minutes from Triangle Square, parks, schools, shopping, restaurants, freeways, and the sandy beaches of Newport. This unit is located on one of the highest elevations in the community providing better views. With 10 foot ceilings on every level, hardwood floors, and customized throughout, this open floor plan design is functional and will impress the most discerning buyers. The modern kitchen has white stone counters and back splash along with high gloss white cabinets that have plenty of room for storage. The master suite privacy glass barn door that leads to the upgraded master bath, for optimum efficiency and looks. The third level also has two additional bedrooms, a guest bath, and laundry room.The rooftop deck has plenty of room to entertain and unbelievable whitewater and Catalina views, come during sunset and you will not be disappointed. The garage has beautiful epoxy floors and storage cabinets. Additional outdoor storage adjacent to garage.

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: Westside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $212k841k

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

Neighborhood: Westside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21600180020002200240026002800300032003400Rent in $15943537

* 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
Ensign Intermediate School Middle Regular 1,173 42 8
Newport Harbor High School High Regular 2,355 82 8

Ensign Intermediate School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 42
8
GreatSchools Rating

Newport Harbor High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 82
8
GreatSchools Rating
 

$880,200$1,075,800$978,000

PURCHASE PRICE

$3,519$4,301$3,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,910
EXPENSES Loan Payment -$3,397
Property Tax -$934
Property Insurance -$72
HOA -$146
Property Management Fees -$192
CASH FLOW
-$831

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$978,000

PROJECTED PRICE

$3,910

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.42%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.35%
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$264,920

INVESTMENT

$264,920

Down Payment
$244,500
Rehab Estimate
$5,750
Closing Costs
$14,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $244,500
Loan Amount $733,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,910

    LIST RENT
  • $2.09

    LIST RENT PER SQFT
  • $4,486

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$3,910
1$3,9102$4,2503$4,3954$4,4505$4,850
$4,850
RENT COMPS ANALYSIS
  • 1811 Coastal Way Costa Mesa, CA 1
    • 3 beds 4 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,873 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,910
    • $2.09
    •  
  • 991 Somerton Drive Costa Mesa, CA 2
    • 3 beds 4 baths ∙ 1,896 Sqft ∙ Built 2017 3 beds 4 baths ∙ 1,896 Sqft ∙ Built 2017
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $2.24
    •  
  • 1006 Katama Bay Drive Costa Mesa, CA 3
    • 3 beds 4 baths ∙ 1,877 Sqft ∙ Built 2016 3 beds 4 baths ∙ 1,877 Sqft ∙ Built 2016
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,395
    • $2.34
    •  
  • 1015 Somerton Drive Costa Mesa, CA 4
    • 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,877 Sqft ∙ Built 2017
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $2.37
    •  
  • 1617 Somerton Drive Costa Mesa, CA 5
    • 3 beds 4 baths ∙ 1,842 Sqft ∙ Built 2018 3 beds 4 baths ∙ 1,842 Sqft ∙ Built 2018
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $2.63
    •  
PROPERTY LISTING DETAILS
Sean Dibsy
The Brokeredge
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21032412
Last Updated: 02/18/2021
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