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3394 Fuchsia Costa Mesa, CA 92626

4 Beds 2 Baths 1,982 sqft Built 1973

$965,000

List Price

$3,610

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $486.88
  • 15 Days on Market
  • MLS # : BB20256950
  • Updated Date : 01/16/2021 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,982 sqft
  • Baths : 2 full
Listing Agent

Remax Empower

Listing Agent's Description

We are BACK with more to offer! Beautifully renovated with BRAND NEW gorgeous engineered flooring in the living space and plank flooring in the bathrooms! BRAND NEW and updated windows throughout the home. BRAND NEW master bathroom shower with Carrera marble tile, new fixtures, new vanity and new toilet. BRAND NEW hallway bath with fancy tile, new bathtub and shower enclosure, new fixtures, new toilet and new vanity. Updated kitchen with granite counter tops, stainless appliances and eat-in kitchen PLUS kitchen island bar. This floor plan is fantastic! Generously sized master bedroom with onsuite bath, dual sink vanity and access to the back yard pool through the new sliding glass door offer easy living. This is a great home with the coveted single story floor plan in the Flower Streets. The open concept floorplan, with great indoor outdoor vibe, capitalizes on all that the Costa Mesa climate has to offer. Centrally located to everything like schools, South Coast Plaza, Wakeham Park with playground, walking trails, and freeways. Please schedule appointment through ShowingTime.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Flower Streets

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k841k

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

Neighborhood: The Flower Streets

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443605

* 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
Paularino Elementary School Primary Regular 444 20 7
Paularino Elementary School Middle Regular 444 20 7
Costa Mesa High School High Regular 1,779 69 6

Paularino Elementary School

  • Education Level: Primary
  • # of students: 444
  • # of teachers: 20
7
GreatSchools Rating

Paularino Elementary School

  • Education Level: Middle
  • # of students: 444
  • # of teachers: 20
7
GreatSchools Rating

Costa Mesa High School

  • Education Level: High
  • # of students: 1,779
  • # of teachers: 69
6
GreatSchools Rating
 

$868,500$1,061,500$965,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$3,352
Property Tax -$959
Property Insurance -$75
Property Management Fees -$177
CASH FLOW
-$952

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.

$965,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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$20k

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$261,475

INVESTMENT

$261,475

Down Payment
$241,250
Rehab Estimate
$5,750
Closing Costs
$14,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,352

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $241,250
Loan Amount $723,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $3,860

    COMP ESTIMATED VALUE
  • $1.95

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,6104$3,8505$3,875
$3,875
RENT COMPS ANALYSIS
  • 3394 Fuchsia Costa Mesa, CA 3
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $1.82
    •  
  • 3298 Turlock Drive Costa Mesa, CA 1
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1973
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.86
    •  
  • 3079 Fernheath Lane Costa Mesa, CA 2
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1958
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.95
    •  
  • 964 Lansing Lane Costa Mesa, CA 4
    • 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.04
    •  
  • 996 Azalea Drive Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.94
    •  
PROPERTY LISTING DETAILS
Gigi Santoro-robbins
Remax Empower
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: BB20256950
Last Updated: 01/16/2021
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