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2868 Calle Heraldo San Clemente, CA 92673

3 Beds 2 Baths 1,235 sqft Built 1984

$949,000

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $768.42
  • 5 Days on Market
  • MLS # : OC20225553
  • Updated Date : 11/11/2020 at 12:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,235 sqft
  • Baths : 2 full
Listing Agent

Re/max Coastal Homes

Listing Agent's Description

Welcome to this truly one-of-a-kind property, located in the country coastal community of Forster Ranch. This incredible single level home features three bedrooms, two baths and is situated on a 14,000 sq. ft. lot. This home showcases a fresh beach-house design and a She Shed currently used as an office and hobby room! The floor to ceiling glass sliding doors overlook the park like rear yard with breathtaking hills and city lights views. Inside, this expansive light filled interior artfully incorporates an open concept design with white shiplap ceilings. The gorgeous remodeled “open concept” kitchen features custom cabinets, granite slab counters w/ glass tile backsplash, stainless appliances, large island, farmhouse sink and a built-in breakfast nook! The bathrooms were also completely remodeled. Some of the other highlights include, new wood plank tile flooring, new double paned windows and sliders, ceiling fans, new plumbing fixtures thru-out, new hardware, new lighting fixtures, new furnace, & A/C. The exterior of the home features an extra wide pavered driveway that can accommodate multiple cars. The lot can easily accommodate an RV or Boat storage. The private rear yard is perfect for entertaining or relaxing while enjoying the 180-degree unobstructed views in the above ground jacuzzi. An entertainer’s yard complete with covered patio, pizza oven, fire pit, fruit trees, a convenient “She Shed” and a storage shed! Near award winning elementary and junior high schools.

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: Forster Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000kPrice in $272k1085k

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

Neighborhood: Forster Ranch

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
Truman Benedict Elementary School Primary Regular 677 22 8
Bernice Ayer Middle School Middle Regular 896 33 6
San Clemente High School High Regular 3,036 107 9

Truman Benedict Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 22
8
GreatSchools Rating

Bernice Ayer Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 33
6
GreatSchools Rating

San Clemente High School

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

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$3,501
Property Tax -$802
Property Insurance -$57
HOA -$90
Property Management Fees -$167
CASH FLOW
-$1,217

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.

$949,000

PROJECTED PRICE

$3,400

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 5.6%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,501

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $2.75

    LIST RENT PER SQFT
  • $2,587

    COMP ESTIMATED VALUE
  • $2.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$3,1004$3,1505$3,400
$3,400
RENT COMPS ANALYSIS
  • 2868 Calle Heraldo San Clemente, CA 5
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.75
    •  
  • 2903 Alforja San Clemente, CA 1
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1993
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.13
    •  
  • 2808 Camino Capistrano San Clemente, CA 2
    • 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,394 Sqft ∙ Built 1975
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.08
    •  
  • 404 Calle Campanero San Clemente, CA 3
    • 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,468 Sqft ∙ Built 2003
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 402 Via Pichon San Clemente, CA 4
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1978
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $2.06
    •  
PROPERTY LISTING DETAILS
Sandra Marquez
Re/max Coastal Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20225553
Last Updated: 11/11/2020
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