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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

$3,980

$3,730 - $4,230

Rent Est.

$953,339  ( +4.19%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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!

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100kPrice in $272k1192k

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

Neighborhood: Forster Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000420044004600Rent in $19814632

* 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
Truman Benedict Elementary School Primary Regular 677 22 8
Bernice Ayer Middle School Middle Regular 896 33 6
San Clemente High School High Regular 3,036 107 9

Truman Benedict Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 22
8
GreatSchools Rating

Bernice Ayer Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 33
6
GreatSchools Rating

San Clemente High School

  • Education Level: High
  • # of students: 3,036
  • # of teachers: 107
9
GreatSchools Rating
 

$823,500$1,006,500$915,000

PURCHASE PRICE

$3,582$4,378$3,980

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$248,225

INVESTMENT

$248,225

Down Payment
$228,750
Rehab Estimate
$5,750
Closing Costs
$13,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,376

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $228,750
Loan Amount $686,250
See What Happens When You Reinvest Cash Flow

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
$3,500
1$3,5002$3,6003$3,9804$3,9955$4,200
$4,200
RENT COMPS ANALYSIS
  • 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
Jeremy Conrad
Conrad Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20173194
Last Updated: 08/25/2020
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