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5607 Costa Maritima 
San Clemente, CA
92673
3 Beds 3 Baths 2,196 sqft
Built 2001
INVESTimate
$915,000
List Price
$248,225
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PROPERTY INFO
FACTS
- Built In 2001
- Price/Sqft : $416.67
- 3 Days on Market
- MLS # : OC20173194
- Updated Date : 08/25/2020 at 11:02
CONSTRUCTION
- Beds : 3
- Floor Size : 2,196 sqft
- Baths : 2 full , 1 half
Listing Agent
Conrad Realtors Inc
Listing Agent's Description
Gorgeous hills views in the desirable Ridgemore community! 3 bedrooms PLUS a loft which could be a 4th bedroom and 2.5 bathrooms. Ample parking and storage for your surfboards with a 3 car garage (one stall is tandem)! Conveniently located within walking distance to the HOA amenities including a large pool, two spas, playground and clubhouse! Upon arrival to this beautiful home discover a welcoming floorplan with the kitchen opening to the family room and a separate formal living/dining area. Highlights of the kitchen include a pantry, island with bar seating and stainless-steel appliances. Follow the unique double staircase to the upper level to discover all the bedrooms, the loft, and a large built-in desk with seating for two - a perfect spot for kids taking school classes from home! Two balconies on the upper level including one off the master bedroom showcasing gorgeous hills views! Also impressive in the master bedroom are the vaulted ceilings and a large walk-in closets! Further refinements throughout the home include high ceilings, crown molding, plantation shutters, an indoor laundry room and a cozy fireplace in the family room. Great outdoor space with privacy and a spacious flagstone patio. Built in 2001 and NO Mello-Roos! Award winning schools are nearby and you’re just minutes to the beach and beautiful downtown San Clemente!
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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: Forster Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Forster Highlands
* 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 | $3,980 |
| EXPENSES | Loan Payment | -$3,376 |
| Property Tax | -$839 | |
| Property Insurance | -$80 | |
| HOA | -$230 | |
| Property Management Fees | -$195 | |
|
CASH FLOW
-$740
|
||
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.
$915,000
PROJECTED PRICE
$3,980
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.19% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$248,225
LOAN DETAILS
$3,376
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $228,750 |
| Loan Amount | $686,250 |
1.75
YEARS SAVED
$12,855
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,980
LIST RENT -
$1.81
LIST RENT PER SQFT
-
$4,090
COMP ESTIMATED VALUE -
$1.86
COMP AVG. RENT PER SQFT
Comps Range
-
5607 Costa Maritima San Clemente, 3
- 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $3,980
- $1.81
-
1925 Via Pimpollo San Clemente, 1
- 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1994
LEASED 10/16/19- Rent
- Rent Per SQFT
- $3,500
- $1.75
-
1600 Via Calendula San Clemente, 2
- 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1993
LEASED 06/26/20- Rent
- Rent Per SQFT
- $3,600
- $1.81
-
6004 Camino Tierra San Clemente, 4
- 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,104 Sqft ∙ Built 2001
LEASED 05/09/20- Rent
- Rent Per SQFT
- $3,995
- $1.90
-
5725 Calle Polvorosa San Clemente, 5
- 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 2001
LEASED 06/30/20- Rent
- Rent Per SQFT
- $4,200
- $1.99
PROPERTY LISTING DETAILS
Conrad Realtors Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20173194
Last Updated: 08/25/2020
