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2201 Via Iris San Clemente, CA 92673

3 Beds 2 Baths 1,985 sqft Built 1993

$875,000

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $440.81
  • 3 Days on Market
  • MLS # : OC20239473
  • Updated Date : 11/13/2020 at 21:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,985 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Oc Coastal Realty

Listing Agent's Description

This will be your dream home after some TLC. Have the chance to customize this home to your desired taste. This large single story home in the much sought after community of Flora Vista is on a large corner lot, boast 3 bedrooms and 2 full baths. As you walk in, you are welcomed by spacious light, an airy living space, soaring 20 ft ceilings, and a kitchen with a large island that opens up to the family Room & fireplace. Large and lovely Master Suite with a walk in closet, sunken tub, separate walk in shower and double sinks. The laundry room has hook ups for gas/electric washer/dryer. There is a 2 car garage with 2 additional spots in driveway as well as plenty of street parking. This home is situated in a beautiful, peaceful neighborhood, in Forester Ranch. Walking distance to schools, parks, tennis courts and the greenbelt this is a family dream home! SCHEDULE A TOUR TODAY!!!! Call or text to schedule a private showing.

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: Highland Light

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200kPrice in $272k1253k

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

Neighborhood: Highland Light

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600380040004200440046004800Rent in $19814853

* 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
 

$787,500$962,500$875,000

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$3,228
Property Tax -$740
Property Insurance -$75
HOA -$75
Property Management Fees -$173
CASH FLOW
-$752

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.

$875,000

PROJECTED PRICE

$3,540

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,228

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$11,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.78

    LIST RENT PER SQFT
  • $3,821

    COMP ESTIMATED VALUE
  • $1.92

    COMP AVG. RENT PER SQFT
Comps Range
$3,540
1$3,5402$3,6003$3,6504$3,8005$4,350
$4,350
RENT COMPS ANALYSIS
  • 2201 Via Iris San Clemente, CA 1
    • 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.78
    •  
  • 2107 Via Viejo San Clemente, CA 2
    • 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1991
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.81
    •  
  • 2138 Via Teca San Clemente, CA 3
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 1986
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.91
    •  
  • 2901 Calle Guadalajara San Clemente, CA 4
    • 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,938 Sqft ∙ Built 1982
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.96
    •  
  • 2945 Calle Guadalajara San Clemente, CA 5
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1979
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $2.02
    •  
PROPERTY LISTING DETAILS
Angela Atkinson
Keller Williams Oc Coastal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20239473
Last Updated: 11/13/2020
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