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194 Cecil Place Costa Mesa, CA 92627

4 Beds 3 Baths 2,128 sqft Built 1997

$1,150,000

List Price

$4,140

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $540.41
  • 115 Days on Market
  • MLS # : OC20195905
  • Updated Date : 11/15/2020 at 09:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,128 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re-crown Group Inc.

Listing Agent's Description

East Side Costa Mesa // It's a community composed of Four beautiful white Cape Cod style Single Family Houses. This lovely home feature 3 (or 4) bedrooms and 2 1/2 baths, One room being used as a home office with a paneled wood door that could be easily be a fourth bedroom. Upgraded tile flooring down stairs with bright open floor plan and vaulted ceilings, Tile built in with Acadia Wood Mantel Surround Fire Place in the living room, upgraded kitchen includes an added electric oven, walk in pantry, dining area off the kitchen with lovely window seat, direct garage entrance. Upstairs are the beautiful master, an inviting master bath with a tub, high ceilings, another Fire Place & large walk-in closet and 2 nice large secondary bedrooms and the enclosed bonus room with a door for privacy or a 4th bedroom - and a full walk in laundry room with added upgraded built ins. The nicely landscaped backyard is just perfect for entertaining & has an added grass area, side yard and patio, direct garage entrance and a durable white vinyl fence for great privacy. This home with a desirable location in the rear off the street for a very private feeling. Close to shopping, the beaches, schools and freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $272k1225k

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

Neighborhood: Eastside Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19813867

* 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
Kaiser Elementary School Primary Regular 681 23 8
Ensign Intermediate School Middle Regular 1,173 42 8
Newport Harbor High School High Regular 2,355 82 8

Kaiser Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 23
8
GreatSchools Rating

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
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$3,726$4,554$4,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,140
EXPENSES Loan Payment -$3,994
Property Tax -$1,123
Property Insurance -$78
HOA -$140
Property Management Fees -$203
CASH FLOW
-$1,399

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.

$1,150,000

PROJECTED PRICE

$4,140

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.5%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,994

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,140

    LIST RENT
  • $1.95

    LIST RENT PER SQFT
  • $4,235

    COMP ESTIMATED VALUE
  • $1.99

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,0003$4,1004$4,1405$4,500
$4,500
RENT COMPS ANALYSIS
  • 194 Cecil Place Costa Mesa, CA 4
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,140
    • $1.95
    •  
  • 132 Monte Vista Avenue Costa Mesa, CA 1
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2001
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.00
    •  
  • 2440 Newport Blvd Costa Mesa, CA 2
    • 5 beds 3 baths ∙ 2,074 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,074 Sqft ∙ Built 2008
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.93
    •  
  • 353 Gulf Stream Way Costa Mesa, CA 3
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2006
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.86
    •  
  • 2450 Elden Avenue Costa Mesa, CA 5
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 2001
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $2.17
    •  
PROPERTY LISTING DETAILS
David Lee
Re-crown Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20195905
Last Updated: 11/15/2020
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