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79 Shearwater Place Newport Beach, CA 92660

3 Beds 3 Baths 1,739 sqft Built 1986

$1,235,000

List Price

$4,160

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $710.18
  • 22 Days on Market
  • MLS # : 21675168
  • Updated Date : 01/21/2021 at 12:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,739 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Newly renovated corner lot, with views of the Back Bay. This bright single family: three bedroom, two & a half bathroom home is located in the gated community of Bayview Terrace. Offers high vaulted ceilings with a beautiful steel staircase & an abundance of natural light. The renovated kitchen includes white shutter cabinets, stainless steel THOR appliances, and quartz counter tops, with a beautiful island. This home has many upgrades including engineered hardwood floors, ring door bell, and recess lighting. Upstairs features; master bedroom w/ in-suite bathroom w/ marble tile, marble counter top, white shutter cabinets, and walk-in closet. Master and one bedroom have a view of the Back Bay. Guest bathroom has a tub shower with marble subway tiles, marble counter tops, and white shutter cabinets. Two car garage with laundry hookups. Outside offers a secluded side and backyard area. The home is walking distance to the community pool and park, centrally located near the 73 & 405 FW

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 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bayview Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019400k600k800k1000k1200k1400k1600k1800k2000kPrice in $272k2016k

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

Neighborhood: Bayview Terrace

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $19816232

* 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
Eastbluff Elementary School Primary Regular 398 18 10
Eastbluff Elementary School Middle Regular 398 18 10
Corona Del Mar High School High Regular 2,557 93 9

Eastbluff Elementary School

  • Education Level: Primary
  • # of students: 398
  • # of teachers: 18
10
GreatSchools Rating

Eastbluff Elementary School

  • Education Level: Middle
  • # of students: 398
  • # of teachers: 18
10
GreatSchools Rating

Corona Del Mar High School

  • Education Level: High
  • # of students: 2,557
  • # of teachers: 93
9
GreatSchools Rating
 

$1,111,500$1,358,500$1,235,000

PURCHASE PRICE

$3,744$4,576$4,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,160
EXPENSES Loan Payment -$4,290
Property Tax -$1,106
Property Insurance -$69
HOA -$245
Property Management Fees -$204
CASH FLOW
-$1,754

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.

$1,235,000

PROJECTED PRICE

$4,160

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.5%
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$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$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$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$333,025

INVESTMENT

$333,025

Down Payment
$308,750
Rehab Estimate
$5,750
Closing Costs
$18,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,290

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $308,750
Loan Amount $926,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,160

    LIST RENT
  • $2.39

    LIST RENT PER SQFT
  • $4,169

    COMP ESTIMATED VALUE
  • $2.4

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,0003$4,1004$4,1605$4,400
$4,400
RENT COMPS ANALYSIS
  • 79 Shearwater Place Newport Beach, CA 4
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $4,160
    • $2.39
    •  
  • 2650 Vista Del Oro Newport Beach, CA 1
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 1969
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.45
    •  
  • 31 Egret Court Newport Beach, CA 2
    • 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,733 Sqft ∙ Built 1987
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $2.31
    •  
  • 37 Egret Court Newport Beach, CA 3
    • 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,788 Sqft ∙ Built 1987
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $2.29
    •  
  • 70 Shearwater Place Newport Beach, CA 5
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1987
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $2.54
    •  
PROPERTY LISTING DETAILS
Persia Zarrabi
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 21675168
Last Updated: 01/21/2021
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