Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bayview Terrace
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$333,025
LOAN DETAILS
$4,290
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $308,750 |
| Loan Amount | $926,250 |
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
-
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
Homesmart, Evergreen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21675168
Last Updated: 01/21/2021
