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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Westside Costa Mesa
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$257,500
LOAN DETAILS
$3,300
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $237,500 |
| Loan Amount | $712,499 |
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
-
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
First Team Estates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: LG21034031
Last Updated: 02/20/2021
