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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newport Crest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$259,885
LOAN DETAILS
$3,538
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $239,750 |
| Loan Amount | $719,250 |
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
-
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
The Agency
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20659752
Last Updated: 11/13/2020
