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214 Avenida Adobe San Clemente, CA 92672

3 Beds 3 Baths 1,468 sqft Built 1973

$675,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $459.81
  • 2 Days on Market
  • MLS # : OC20229608
  • Updated Date : 11/02/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Well maintained two-story attached single family home with a two-car garage and peak-a-boo ocean views located within the highly sought-after community of Presidential Heights in San Clemente. This great property features neutral paint and trim, crown molding, recessed lighting, and durable flooring throughout the main living areas of the home. Large windows bask the home in an abundance of natural light. A beautifully appointed kitchen featuring granite countertops and sleek stainless steel appliances with window over looking the private front courtyard patio. All bedrooms are upstairs including a spacious primary suite offering vaulted ceilings, private balcony, a walk-in closet and its own en-suite bath. Outdoor living extends to one of two patios. This home also offers a newer medical grade air filtration system and HVAC (one of the few homes in community with HVAC). Low HOA fees that also include water. Amenities include 9 sparking pools and park-like grounds. Conveniently located just minutes away from Vista Bahia Park, award-winning schools, golf amenities at the neighboring Municipal Golf Course, shopping at the Outlets, dining along Ave Del Mar, hiking/biking trails, Interstate 5, San Clemente’s famous beaches and pier, plus so much more!

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: San Clemente

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1085k

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

Neighborhood: San Clemente

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19814177

* 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
Clarence Lobo Elementary School Primary Regular 417 15 5
Shorecliffs Middle School Middle Regular 1,021 39 7
San Clemente High School High Regular 3,036 107 9

Clarence Lobo Elementary School

  • Education Level: Primary
  • # of students: 417
  • # of teachers: 15
5
GreatSchools Rating

Shorecliffs Middle School

  • Education Level: Middle
  • # of students: 1,021
  • # of teachers: 39
7
GreatSchools Rating

San Clemente High School

  • Education Level: High
  • # of students: 3,036
  • # of teachers: 107
9
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$2,490
Property Tax -$571
Property Insurance -$63
HOA -$315
Property Management Fees -$157
CASH FLOW
-$396

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.

$675,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$17,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $3,490

    COMP ESTIMATED VALUE
  • $2.38

    COMP AVG. RENT PER SQFT
Comps Range
$3,080
1$3,0802$3,2003$3,2004$3,8005$3,950
$3,950
RENT COMPS ANALYSIS
  • 214 Avenida Adobe San Clemente, CA 3
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.18
    •  
  • 231 W Escalones San Clemente, CA 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1979
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.28
    •  
  • 139 W Mariposa San Clemente, CA 2
    • 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,328 Sqft ∙ Built 1956
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.41
    •  
  • 124 Avenida Trieste San Clemente, CA 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1974
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.33
    •  
  • 415 Cazador Lane San Clemente, CA 5
    • 4 beds 3 baths ∙ 1,587 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,587 Sqft ∙ Built 1979
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $2.49
    •  
PROPERTY LISTING DETAILS
Troy Hooper
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20229608
Last Updated: 11/02/2020
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