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3077 Taylor Way 
Costa Mesa, CA
92626
3 Beds 2 Baths 1,292 sqft
Built 1962
INVESTimate
$799,000
List Price
$217,485
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PROPERTY INFO
FACTS
- Built In 1962
- Price/Sqft : $618.42
- 2 Days on Market
- MLS # : OC20173133
- Updated Date : 08/25/2020 at 14:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,292 sqft
- Baths : 2 full
Listing Agent
Jzd Properties
Listing Agent's Description
Coastal living exudes from this single-story home that is nestled on a private cul de sac in the Mesa North community. The curb appeal welcomes you to this turn-key home which includes recessed lighting, fresh paint, open concept kitchen, dining, and living room, new carpet in bedrooms, and gorgeous wood floors throughout. The kitchen offers stainless steel cooktop complimented with wood cabinets with chic colors. Offering designer granite countertops, extra storage added and opens directly to your entertaining family room. Both bathrooms offer modern design pedestal & vanity, light colors, and are very inviting. The master bedroom is robust in size and style and can be furnished in multiple ways. The secondary bedrooms are well lite with natural light, added ceiling fans to enhance the coastal climate. The garage has added electrical, offers plenty of storage, and is where your private washer/dryer reside. Saving one of the best home features is the backyard! You can have your own farm to table vegetable garden with the added raised planter boxes. The backyard is a perfect topography with grass area for the kids, patio area for outdoor entertaining, and truly an outdoor oasis. The true definition of a turn-key home! Centrally located to the 405, 5, 55, and 73 freeways. Minutes from South Coast Plaza, The Lab/The Camp, and so much more!
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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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- As part of Southern California area, Orange County market inherits all the benefits from the area.
- 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)
PRICE & RENT TRENDS
Neighborhood: Mesa North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mesa North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,230 |
| EXPENSES | Loan Payment | -$2,948 |
| Property Tax | -$779 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$714
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$799,000
PROJECTED PRICE
$3,230
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.24% |
| Appreciation Year (1-5) | 6.06% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.38% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,485
LOAN DETAILS
$2,948
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $199,750 |
| Loan Amount | $599,250 |
1.67
YEARS SAVED
$10,684
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,230
LIST RENT -
$2.5
LIST RENT PER SQFT
-
$2,904
COMP ESTIMATED VALUE -
$2.25
COMP AVG. RENT PER SQFT
Comps Range
-
3077 Taylor Way Costa Mesa, 2
- 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,292 Sqft ∙ Built 1962
- Rent
- Rent Per SQFT
- $3,230
- $2.50
-
3074 Trinity Drive Costa Mesa, 1
- 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1961
LEASED 08/27/19- Rent
- Rent Per SQFT
- $3,200
- $2.29
-
1158 Austin Street Costa Mesa, 3
- 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1962
LEASED 08/11/20- Rent
- Rent Per SQFT
- $3,250
- $2.31
-
3132 Coolidge Avenue Costa Mesa, 4
- 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963
LEASED 05/15/20- Rent
- Rent Per SQFT
- $3,300
- $2.05
-
3013 Garfield Avenue Costa Mesa, 5
- 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,496 Sqft ∙ Built 1961
LEASED 03/28/19- Rent
- Rent Per SQFT
- $3,500
- $2.34
PROPERTY LISTING DETAILS
Jzd Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20173133
Last Updated: 08/25/2020
