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949 Dahlia Avenue Costa Mesa, CA 92626

4 Beds 2 Baths 1,982 sqft Built 1973

$999,900

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $504.49
  • 2 Days on Market
  • MLS # : NP20239985
  • Updated Date : 11/14/2020 at 15:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,982 sqft
  • Baths : 2 full
Listing Agent

D E Properties

Listing Agent's Description

Welcome home to this charming single story, ranch style home in highly sought after Costa Mesa! Upon entering through the front door you are greeted by vaulted ceilings & an abundance of natural light as you pass through the Formal Living & Dining Rooms accompanied by a Fireplace for those chilly nights. With a generous 4 bedroom 2 bath open concept layout, the kitchen has tiled countertops, stainless steel appliances, bar seating & a cosy dinning nook that is open to the family room w more vaulted ceilings & ample space to relax with the family. Sliding glass doors welcome you to the private backyard with Jacuzzi & industrial sail shades. All the bedrooms are situated at the back of the house for privacy. Enjoy access to the backyard & Jacuzzi from your master bedroom under cover of wonderful shade sails while you walk across artificial grass for comfort. Master bathroom includes his & hers sinks, tile shower w natural skylight. Equipped w recessed lighting, crown molding, custom closets throughout double pane windows & epoxy garage flooring. With new ceramic flooring, new rain gutters, New garage door opener with myQ, newer appliances, Elfa closets this is a highly desirable floor plan and property you won’t want to miss. Central and convenient living doesn’t get much better than this! South Coast Plaza is only a short distance from your front door along with Wakeham Park, schools, freeways and a host of dining options and amenities nearby.

SEE MORE

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: The Flower Streets

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800kPrice in $243k841k

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

Neighborhood: The Flower Streets

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200022002400260028003000320034003600Rent in $18443605

* 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
Paularino Elementary School Primary Regular 444 20 7
Paularino Elementary School Middle Regular 444 20 7
Costa Mesa High School High Regular 1,779 69 6

Paularino Elementary School

  • Education Level: Primary
  • # of students: 444
  • # of teachers: 20
7
GreatSchools Rating

Paularino Elementary School

  • Education Level: Middle
  • # of students: 444
  • # of teachers: 20
7
GreatSchools Rating

Costa Mesa High School

  • Education Level: High
  • # of students: 1,779
  • # of teachers: 69
6
GreatSchools Rating
 

$899,910$1,099,890$999,900

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$3,689
Property Tax -$993
Property Insurance -$75
Property Management Fees -$184
CASH FLOW
-$1,182

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.

$999,900

PROJECTED PRICE

$3,760

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.6%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,724

INVESTMENT

$270,724

Down Payment
$249,975
Rehab Estimate
$5,750
Closing Costs
$14,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,689

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $249,975
Loan Amount $749,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$3,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,840

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,5003$3,7604$3,8505$3,875
$3,875
RENT COMPS ANALYSIS
  • 949 Dahlia Avenue Costa Mesa, CA 3
    • 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,982 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $1.90
    •  
  • 3298 Turlock Drive Costa Mesa, CA 1
    • 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
    •  
  • 958 Carnation Avenue Costa Mesa, CA 2
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1973
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.91
    •  
  • 964 Lansing Lane Costa Mesa, CA 4
    • 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965 5 beds 2 baths ∙ 1,886 Sqft ∙ Built 1965
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $2.04
    •  
  • 996 Azalea Drive Costa Mesa, CA 5
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1973
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,875
    • $1.94
    •  
PROPERTY LISTING DETAILS
Erik Rettberg
D E Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20239985
Last Updated: 11/14/2020
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