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1832 Peninsula Place Costa Mesa, CA 92627

4 Beds 3 Baths 1,756 sqft Built 1990

$949,999

List Price

$3,750

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $541.00
  • 4 Days on Market
  • MLS # : LG21034031
  • Updated Date : 02/20/2021 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,756 sqft
  • Baths : 3 full
Listing Agent

First Team Estates

Listing Agent's Description

Welcome to 1832 Peninsula! It is located in a private gated community high up on the bluff in Costa Mesa and only 1 mile to the ocean. Expanded and remodeled this newer home has an exquisite design with soaring ceilings and a beautiful staircase. It is in move-in condition. The highlights include four bedrooms, three full baths, and an expanded walk-in closet in master bedroom. Decorator touches include travertine flooring, a completely remodeled kitchen with granite, new custom cabinets, and stainless steel appliances. New slider leads to entertainer's backyard. Top-of-the-line flooring thru-out. Come see Award-Winning 'California Seabreeze'. This home is just steps to the relaxing pool/spa. Less than 1 mile to the sand at Newport Beach, bike trails nearby. Only one mile to Triangle Square. Don't miss this opportunity!

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
 

$854,999$1,044,999$949,999

PURCHASE PRICE

$3,375$4,125$3,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,750
EXPENSES Loan Payment -$3,300
Property Tax -$907
Property Insurance -$70
HOA -$255
Property Management Fees -$184
CASH FLOW
-$965

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.

$949,999

PROJECTED PRICE

$3,750

PROJECTED RENT

0.39%

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-$20k-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,500

INVESTMENT

$257,500

Down Payment
$237,500
Rehab Estimate
$5,750
Closing Costs
$14,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,300

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,500
Loan Amount $712,499
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,750

    LIST RENT
  • $2.14

    LIST RENT PER SQFT
  • $3,696

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,7003$3,7504$3,9955$4,000
$4,000
RENT COMPS ANALYSIS
  • 1832 Peninsula Place Costa Mesa, CA 3
    • 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,756 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $2.14
    •  
  • 12 Starfish Court Newport Beach, CA 1
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1977
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.12
    •  
  • 2 Nautical Mile Drive Newport Beach, CA 2
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2006
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.04
    •  
  • 1 Nautical Mile Drive Newport Beach, CA 4
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $2.20
    •  
  • 21852 Summerwind Lane Huntington Beach, CA 5
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1975
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.06
    •  
PROPERTY LISTING DETAILS
Sean Jarne
First Team Estates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: LG21034031
Last Updated: 02/20/2021
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