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2154 Avenida Espada #152 San Clemente, CA 92673

3 Beds 3 Baths 1,482 sqft Built 1983

$675,000

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $455.47
  • 4 Days on Market
  • MLS # : OC21013318
  • Updated Date : 01/22/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,482 sqft
  • Baths : 2 full , 1 half
Listing Agent

Greentree Realty Group

Listing Agent's Description

Cute and desirable Cape Cod style condo in the Faire Harbour neighborhood in Marblehead. Enter this condo through a private entry and head right upstairs or to kitchen and entertainment space. The dining room is near the front of the home and is easily served from a kitchen that it connects to. The kitchen offers granite counter tops, electric stove/oven and a stainless steel dishwasher. Toward the back of the house is a large family room that is fit for entertaining. With a spacious patio off the back, relaxing to an ocean breeze is easy. The family room features a fireplace and the back patio offers a peaceful view of an open grass area in the neighborhood. It's open and private. Upstairs provides two secondary bedrooms off the front of the home that share a full bathroom across the hallway. In the main hall is a laundry closet with a side by side set up for the washer and dryer. Proudly boasting an ocean view at the back of the home is a sizable master bedroom. The large windows bring in lots of light and show off the views of the neighborhood, open grassy areas and ocean. The master bathroom has a skylight and a walk-in closet. There is also a half bathroom downstairs and a two-car detached garage. The community is well kept, close to the beach and very accessible to the freeway for easy commuting. The unit offers very clean and newer updates and has been well maintained.

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: Marblehead Inland

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1085k

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

Neighborhood: Marblehead Inland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q214001600180020002200240026002800300032003400360038004000Rent in $13514177

* 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
Marblehead Elementary School Primary Regular 412 14 4
Shorecliffs Middle School Middle Regular 1,021 39 7
San Clemente High School High Regular 3,036 107 9

Marblehead Elementary School

  • Education Level: Primary
  • # of students: 412
  • # of teachers: 14
4
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

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,345
Property Tax -$571
Property Insurance -$63
HOA -$480
Property Management Fees -$154
CASH FLOW
-$463

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

$3,150

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.1%
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

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

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$8,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $3,149

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,2003$3,2004$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 2154 Avenida Espada San Clemente, CA 1
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.13
    •  
  • 2166 Avenida Espada San Clemente, CA 2
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 1983
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.16
    •  
  • 608 Via Pavon San Clemente, CA 3
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1978
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.10
    •  
  • 2179 Calle Ola Verde San Clemente, CA 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 1983
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 121 La Ronda San Clemente, CA 5
    • 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 1989
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.11
    •  
PROPERTY LISTING DETAILS
James Hoff
Greentree Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21013318
Last Updated: 01/22/2021
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