Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

20162 Redlands Drive Newport Beach, CA 92660

5 Beds 3 Baths 2,563 sqft Built 1963

$1,326,000

List Price

$5,240

$5K - $5.5K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $517.36
  • 2 Days on Market
  • MLS # : PW20262774
  • Updated Date : 12/26/2020 at 13:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,563 sqft
  • Baths : 3 full
Listing Agent

Frontier Realty Inc

Listing Agent's Description

Gorgeous four bedrooms, three bathrooms, and a bonus room ( which can be converted into a 5 bedroom) home located in one of the most admired neighborhoods of Newport Beach is waiting for you to call HOME ! This property offers 2500+ square feet of living space rests on an almost 8000 square feet lot with the best parks, beaches, convenient shopping, and restaurants. But most importantly, the award-winning Newport Mesa Unified School District is the best school district for your little ones. The big windows provide all-natural sunlight throughout the open floor plans. The living room is warm and inviting, centered by a wood-burning fireplace with a gorgeous modern mantle. A beautiful kitchen looks out to the backyard features granite countertops replete with a built -in breakfast bar, ample storage space, and stainless steel appliances. The second floor features the master suite with a walk-in closet, double sink vanity, three additional bedrooms and a bathroom. the backyard with a beautiful landscape is perfect for you to host a family gathering or enjoy the peace it provides in this big city morning and night. So what are you waiting for ? Bring your coffee and wine and make this beauty your HOME. No showing until 1/2/2021. More photos are coming soon !

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $243k2016k

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

Neighborhood: Costa Mesa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $18446232

* 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
 

$1,193,400$1,458,600$1,326,000

PURCHASE PRICE

$4,716$5,764$5,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,240
EXPENSES Loan Payment -$4,892
Property Tax -$1,272
Property Insurance -$89
Property Management Fees -$257
CASH FLOW
-$1,270

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$1,326,000

PROJECTED PRICE

$5,240

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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-$20k-$10k$0.0$10k$20k$30k

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$357,140

INVESTMENT

$357,140

Down Payment
$331,500
Rehab Estimate
$5,750
Closing Costs
$19,890

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,892

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $331,500
Loan Amount $994,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$14,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,240

    LIST RENT
  • $2.04

    LIST RENT PER SQFT
  • $5,049

    COMP ESTIMATED VALUE
  • $1.97

    COMP AVG. RENT PER SQFT
Comps Range
$4,600
1$4,6002$4,7503$4,9004$4,9955$5,240
$5,240
RENT COMPS ANALYSIS
  • 20162 Redlands Drive Newport Beach, CA 5
    • 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963 5 beds 3 baths ∙ 2,563 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $5,240
    • $2.04
    •  
  • 2601 Raqueta Newport Beach, CA 1
    • 4 beds 2 baths ∙ 2,458 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,458 Sqft ∙ Built 1972
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,600
    • $1.87
    •  
  • 2224 Windward Lane Newport Beach, CA 2
    • 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
    •  
  • 316 Otero Newport Beach, CA 3
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 1970
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,900
    • $2.17
    •  
  • 2391 Orchid Hill Place Newport Beach, CA 4
    • 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 1967 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 1967
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.92
    •  
PROPERTY LISTING DETAILS
Nhu White
Frontier Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20262774
Last Updated: 12/26/2020
BESbswy