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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $443.11
- 18 Days on Market
- MLS # : NP21024217
- Updated Date : 02/20/2021 at 21:10
CONSTRUCTION
- Beds : 3
- Floor Size : 1,749 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Seabluff Canyon is a private secluded community with direct access to hiking & bike riding through Talbert Nature Preserve to local Newport & Huntington Beaches. Ideally located backing to the forest with beautiful views of nature, this home offers vaulted ceilings, living room with fireplace, dinning area with access to the kitchen, 3 bedrooms 2 baths, back patio, terrace and oversized 2 car garage. Seabluff Canyon has a beautiful pool for the residents to use and there is a flowing stream which adds ambience to the area close to the clubhouse and tennis court.
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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 | $3,360 |
| EXPENSES | Loan Payment | -$2,692 |
| Property Tax | -$750 | |
| Property Insurance | -$69 | |
| HOA | -$370 | |
| Property Management Fees | -$165 | |
|
CASH FLOW
-$685
|
||
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.
$775,000
PROJECTED PRICE
$3,360
PROJECTED RENT
0.43%
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
$211,125
LOAN DETAILS
$2,692
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
1.58
YEARS SAVED
$7,644
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,360
LIST RENT -
$1.92
LIST RENT PER SQFT
-
$3,743
COMP ESTIMATED VALUE -
$2.14
COMP AVG. RENT PER SQFT
Comps Range
-
2051 Sea Cove Ln Costa Mesa, CA 1
- 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1978
![property image]()
- Rent
- Rent Per SQFT
- $3,360
- $1.92
-
20951 Surge Lane Huntington Beach, CA 2
- 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 1966
![property image]()
LEASED 06/27/20- Rent
- Rent Per SQFT
- $3,500
- $1.86
-
21432 Pensacola Circle Huntington Beach, CA 3
- 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1968 3 beds 3 baths ∙ 1,932 Sqft ∙ Built 1968
![property image]()
LEASED 08/31/20- Rent
- Rent Per SQFT
- $3,800
- $1.97
-
9561 Rockpoint Drive Huntington Beach, CA 4
- 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1969
![property image]()
LEASED 06/22/20- Rent
- Rent Per SQFT
- $4,300
- $2.34
-
20822 Spindrift Lane Huntington Beach, CA 5
- 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1966 4 beds 3 baths ∙ 1,881 Sqft ∙ Built 1966
![property image]()
LEASED 03/11/20- Rent
- Rent Per SQFT
- $4,500
- $2.39
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NP21024217
Last Updated: 02/20/2021
