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925 Powell Court Costa Mesa, CA 92626

3 Beds 3 Baths 1,804 sqft Built 1979

$749,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $415.19
  • 3 Days on Market
  • MLS # : PW21030258
  • Updated Date : 02/27/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,804 sqft
  • Baths : 2 full , 1 half
Listing Agent

Oc Realty & Investments

Listing Agent's Description

Excellent location in a great private Sommerset Citihomes Community, Beautiful home 3 bedrooms, 2.5 baths, 1,804 living sqft, 2 car garages, direct access & guests parking. Completely beautiful Remodeled, new kitchen cabinets, granite counter top, stainless steel appliances, washer/ dryer are in the garage. Living room with fire place, French door to a good size private back yard, beautiful patio, landscaping, dinning room by the kitchen with another French door to the back yard. Huge master suite with fire place, sliding door to a big balcony, high ceiling, huge walk-in closet and another closet by the office, double sink vanity, marble shower. Other 2 Bedroom also has private balcony, sliding door to balcony, mirror closet doors. Recessed Lighting, crown moldings through out the home, Central AC, Central heater. New paint, engineer wood flooring. This is well kept community, greenbelt, there are 2 swimming pools and spas, private park. Convenient location, close to major freeway 405, 73, 55, walking distance to School District, South Coast Plaza, Church, Park, OCC, OC Fair, minutes to Irvine, John Wayne Airport, UCI, Newport Beach & Huntington Beach. This is a perfect home for a family and/or college students, quiet neighborhood. Welcome home!

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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: Mesa North

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k841k

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

Neighborhood: Mesa North

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400Rent in $18443537

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$674,100$823,900$749,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$2,602
Property Tax -$762
Property Insurance -$71
HOA -$393
Property Management Fees -$160
CASH FLOW
-$717

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$749,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
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

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,235

INVESTMENT

$204,235

Down Payment
$187,250
Rehab Estimate
$5,750
Closing Costs
$11,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,602

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,250
Loan Amount $561,750
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$3,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,635

    COMP ESTIMATED VALUE
  • $2.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,3003$3,5004$3,8505$3,900
$3,900
RENT COMPS ANALYSIS
  • 925 Powell Court Costa Mesa, CA 1
    • 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,804 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.81
    •  
  • 3132 Coolidge Avenue Costa Mesa, CA 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1963
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.05
    •  
  • 3298 Turlock Drive Costa Mesa, CA 3
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 1973
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.86
    •  
  • 3136 Coolidge Avenue Costa Mesa, CA 4
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 1964
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.18
    •  
  • 954 Carnation Avenue Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.97
    •  
PROPERTY LISTING DETAILS
Theresa Nguyen
Oc Realty & Investments
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21030258
Last Updated: 02/27/2021
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