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5 Kamalii Court #274 Newport Beach, CA 92663

3 Beds 3 Baths 1,622 sqft Built 1973

$959,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $591.25
  • 3 Days on Market
  • MLS # : 20659752
  • Updated Date : 11/13/2020 at 17:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,622 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Agency

Listing Agent's Description

3 bedroom, 3 bath 1,622 sq.ft. newly-remodeled end unit townhome is an entertainer's dream. Light and bright split-level living and dining area with glass railings, leads you into a brand new gourmet cook's kitchen, patio doors lead you out to a spacious private balcony for perfect outdoor living. The powder room has a floating vanity with a marble veneer finish. Upstairs is the master with oversized windows and plantation shutters, vaulted ceiling, own private balcony, large closet with built-ins. The Master bath has a marble look finish, spa tub, double sinks, and exquisite tile details. The second upstairs bath is also remodeled with a walk-in shower. Two upstairs bedrooms are light, bright, and airy, closets are spacious with built-ins. Gorgeous white wash oak floors throughout, beautiful modern detailing everywhere. The two-car garage with direct access has laundry hookups, plenty of storage space. The complex has a pool, two lighted tennis courts an outdoor spa, and a clubhouse.

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: Newport Crest

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $272k2016k

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

Neighborhood: Newport Crest

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21500200025003000350040004500500055006000Rent in $12496232

* 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
Newport Heights Elementary School Primary Regular 685 25 8
Ensign Intermediate School Middle Regular 1,173 42 8
Newport Harbor High School High Regular 2,355 82 8

Newport Heights Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 25
8
GreatSchools Rating

Ensign Intermediate School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 42
8
GreatSchools Rating

Newport Harbor High School

  • Education Level: High
  • # of students: 2,355
  • # of teachers: 82
8
GreatSchools Rating
 

$863,100$1,054,900$959,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,538
Property Tax -$900
Property Insurance -$66
HOA -$400
Property Management Fees -$186
CASH FLOW
-$1,291

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.

$959,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.4%
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-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

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$259,885

INVESTMENT

$259,885

Down Payment
$239,750
Rehab Estimate
$5,750
Closing Costs
$14,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,538

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $239,750
Loan Amount $719,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $2.34

    LIST RENT PER SQFT
  • $3,913

    COMP ESTIMATED VALUE
  • $2.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7003$3,8004$3,8505$4,150
$4,150
RENT COMPS ANALYSIS
  • 5 Kamalii Court Newport Beach, CA 3
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $2.34
    •  
  • 102 Scholz Plaza Newport Beach, CA 1
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1971
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.15
    •  
  • 1 Kamalii Court Newport Beach, CA 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1973
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $2.45
    •  
  • 408 Prospect Street Newport Beach, CA 4
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1961
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.64
    •  
  • 5310 Neptune Avenue Newport Beach, CA 5
    • 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,725 Sqft ∙ Built 1960
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $2.41
    •  
PROPERTY LISTING DETAILS
Ruth Elia
The Agency
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20659752
Last Updated: 11/13/2020
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