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201 La Costa Court Costa Mesa, CA 92627

4 Beds 2 Baths 2,357 sqft Built 1986

$1,275,000

List Price

$4,620

$4.4K - $4.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $540.94
  • 21 Days on Market
  • MLS # : OC20225987
  • Updated Date : 11/09/2020 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,357 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to Eastside Costa Mesa’s community, La Costa Court, adjacent to Upper Newport Back Bay trail, restaurants, shopping, great schools, and a short bike ride to the beach. Beginning with a crisp airy color palette, this two-story floorplan immediately welcomes you with its spacious living room, cathedral ceilings, fireplace, and an oversized picture window allowing for an abundance of natural light. The beautifully remodeled kitchen features white shaker cabinets, stainless steel appliances, dual ovens, a gas cooktop, full subway tile backsplash, and solid surface countertops. Its dining area is perfect for entertaining friends and family. After dinner, step outside to your private side patio ideal for conversation by a cozy outdoor firepit. The kitchen is also open to another large family room with yet another fireplace to host family gatherings or cozy movie nights. Sliding glass doors lead out to your spacious backyard which is useful for pets or kids to safely play in. Downstairs, you will find a highly coveted downstairs bedroom and a remodeled 3/4 bath with a walk-in shower. Upstairs, your oversized master suite features an updated dual vanity area, walk-in closet, and a jetted soaking tub. There are two more spacious bedrooms upstairs featuring custom-designed closet organization and a remodeled full bath in the hall. In the garage, there are pull downstairs to a large attic storage area. This house is ready for you to call it home.

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
 

$1,147,500$1,402,500$1,275,000

PURCHASE PRICE

$4,158$5,082$4,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,620
EXPENSES Loan Payment -$4,704
Property Tax -$1,232
Property Insurance -$84
HOA -$50
Property Management Fees -$226
CASH FLOW
-$1,677

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.

$1,275,000

PROJECTED PRICE

$4,620

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-$30k-$20k-$10k$0.0$10k$20k

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$343,625

INVESTMENT

$343,625

Down Payment
$318,750
Rehab Estimate
$5,750
Closing Costs
$19,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,704

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $318,750
Loan Amount $956,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$1,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,620

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $4,620

    COMP ESTIMATED VALUE
  • $1.96

    COMP AVG. RENT PER SQFT
Comps Range
$4,100
1$4,1002$4,5003$4,5004$4,6205$4,750
$4,750
RENT COMPS ANALYSIS
  • 201 La Costa Court Costa Mesa, CA 4
    • 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,357 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,620
    • $1.96
    •  
  • 353 Gulf Stream Way Costa Mesa, CA 1
    • 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
    •  
  • 219 E 16th Street Costa Mesa, CA 2
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2003
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.89
    •  
  • 2450 Elden Avenue Costa Mesa, CA 3
    • 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
    •  
  • 2224 Windward Lane Newport Beach, CA 5
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1974
    property image
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $1.92
    •  
PROPERTY LISTING DETAILS
Jeremiah Secrest
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20225987
Last Updated: 11/09/2020
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