Shevy Akason
949.769.1599
shevy@findmylandmark.com




2501 S Camino Real #40 Analysis

 

     This home will rent for between $1900 and $2000. Based upon the pictures it appears that it will need at least $40,000 in repairs. The monthly cash cost if purchased for $249,000 with 20% down and all of the repair costs out of pocket is $1733/month. The true cost when taking into account equity through principle reduction and tax savings is $1317/month.

      Using $2000/month, no management fee, 95% occupancy, if you can finance the $40,000 in repairs and purchase the home for $225,000 with 3% for closing costs making the total property cost $265,000 here are the returns.

Downpayment $53,000
Income= $22,800 (95% occupancy)
* Expenses (not including loan)=   Property Taxes=     $221
                                              HOA=                        $300
                                              Insurance=                $55
                                              Other taxes=             $55
                                              Maintenance=            $55
                                                                 $686/month*12=  $8232/year

* These are estimates

$22800- $8232= $14568 cash flow if purchased all cash
Cap rate= $14568/ $265,000 (property cost)   Cap rate= 5.5%

True cost of ownership for the year= $16584/year
$22800- $16584=  $6216

Cash on cash return=   $6216/$53,000= 11.7%

Cash on Cash return= 11.7%
Cap rate= 5.5%



Shevy Akason  Residential    
2501 S El Camino Real 40    
Click for more pictures ... 
San Clemente Central (SC)
Orange County (OR)

Media: 12
 
 

Contact Information

This Report was created by:

Listing Activity


x
Property Type:   Residential Lease       Status:   Active
Subject
Property
                   
# MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f Stories Gar SqFt YBlt Lse Term List Price DOM
S564524  CONDO  126 Calle Patricia 5  SC/ SC  993A5  PP /0  2/2  1,516  1977  Months  $2,650  10 
S556333  CONDO  2501 S El Camino Real 203  SC/ SE  993B7  OF /b  2/1  1,325  1973  12  Months  $1,800  88 
S545592  CONDO  2501 S El Camino Real 108  SC/ se  993B7  OF /c  2/2  1,460  1973  Months  $1,900  189 
Average 3     1 1,434   9   $2,116 96
Number of Properties: 3
Average ( ListPrice / SqFt ) : ( 2116 / 1434 ) = $ 1.48

Property Type:   Residential Lease       Status:   Leased
Subject
Property
                           
# MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f Stories Gar SqFt YBlt Lse Term Sold Price SP/ SqFt SP/LP SP/OLP Sold Date DOM
S513325  CONDO  214 Via Robina 12  SC/ SC  993A5  PC /A  2/1  1,100  1970  12  Months  $1,650  $1.50  89.19%  84.62%  3/15/2008  119 
L25822  CONDO  100 Calle Patricia 6  SC/ SC  993A4  CUST /1  2/1  1,134  1975  12  Months  $1,995  $1.76  100.00%  86.74%  8/01/2008  108 
S505299  CONDO  132 AVENIDA PRESIDIO   SC/ SC  993A4  PP /C  2/  1,700  1980  Months  $2,100  $1.24  100.00%  100.00%  10/19/2007  37 
S552097  CONDO  126 CALLE PATRICIA 9  SC/ SC  993A5  CUST /0  2/2  1,600  1972  12  Months  $2,100  $1.31  100.00%  100.00%  11/10/2008  17 
S530986  CONDO  132 Avenida Presidio 9  SC/ SC  992J2  PP /C  2/2  1,700  1979  12  Months  $2,200  $1.29  100.00%  100.00%  5/29/2008  33 
S487376  CONDO  126 Calle Patricia 5  SC/ SC  993a4  CUST /x  2/  1,516  1977  Months  $2,750  $1.81  98.21%  98.21%  5/20/2007  12 
S514559  CONDO  124 Calle Patricia   SC/ SE  993A4  CUST /0  2/  1,381  1973  12  Months  $1,400  $1.01  93.33%  93.33%  1/03/2008  29 
S526915  CONDO  2711 S El Camino Real 7  SC/ se  993B7  CUST /0  2/1  1,002  1984  12  Months  $1,550  $1.55  100.00%  103.33%  5/01/2008  34 
S543643  APT  106 E Avenida San Gabriel 3  SC/ SE  993B6  PD /0  2/1  1,350  1972  12  Months  $1,575  $1.17  100.00%  90.00%  12/04/2008  120 
10  S554603  CONDO  2701 Calle Del Comercio 3  SC/ SE  993B7  OTHR /0  2/1  1,112  1972  Months  $1,575  $1.42  98.44%  98.44%  12/04/2008  17 
11  S489400  CONDO  2501 S El Camino Real 306  SC/ SE  993B7  OF /B  2/  1,325  1973  12  Months  $1,600  $1.21  100.00%  100.00%  6/07/2007  17 
12  S551900  CONDO  214 VIA ROBINA 9  SC/ SE  933A5  OTHR /U  2/1  1,050  1970  12  Months  $1,600  $1.52  100.00%  91.43%  2/08/2009  111 
13  S538699  APT  106 E Avenida San Gabriel 1  SC/ SE  993B6  CUST /0  2/1  1,330  1972  12  Months  $1,650  $1.24  100.00%  100.00%  8/05/2008  33 
14  S518948  CONDO  2501 S El Camino Real 210  SC/ SE  993B7  OF /C  2/1  1,561  1973  12  Months  $1,700  $1.09  100.00%  100.00%  2/19/2008  28 
15  S519353  CONDO  2501 El Camino Real 202  SC/ SE  993B7  OF /O  2/2  1,200  1978  12  Months  $1,750  $1.46  100.00%  89.74%  5/09/2008  105 
16  S493183  CONDO  2501 S El Camino Real 202  SC/ SE  993B7  OF /x  2/  1,325  1973  12  Months  $1,850  $1.40  94.87%  94.87%  6/28/2007  10 
17  S523852  APT  2405 S El Camino Real   SC/ SE  993B6  OTHR /*  2/2  1,600  1965  12  Months  $2,100  $1.31  100.00%  85.71%  4/10/2008  40 
18  S556598  CONDO  118 Avenida Califia a  SC/ sw  993A7  OTHR /0  2/1  1,200  1977  12  Months  $1,600  $1.33  96.97%  96.97%  12/17/2008 
Average 2     2 1,344   11   $1,819 $1.37 98.39% 95.19%   49
Number of Properties: 18
Average ( SalePrice / SqFt ) : ( 1819 / 1344 ) = $ 1.35


RentVsOwnulator™

Purchase Price $
Down Payment % $
Interest Rate %
Number of Years years
Mortgage $
Monthly Payment $
Property Tax % $
Special Taxes and Levies % $
Homeowners Insurance % $
Homeowners Association Fees $ $
Other (ex. Private Mortgage Ins) $ $
Maintenance and Replacement Reserves % $
Monthly Cash Cost $
Monthly Interest for 1st Payment $
Tax Savings (% of Interest and Property Tax) % $
Equity Hidden in Payment $
Lost Income to Down Payment % $

Total Cost of Ownership $
With Financed repairs at a purchase price of $225,000

RentVsOwnulator™

Purchase Price $
Down Payment % $
Interest Rate %
Number of Years years
Mortgage $
Monthly Payment $
Property Tax % $
Special Taxes and Levies % $
Homeowners Insurance % $
Homeowners Association Fees $ $
Other (ex. Private Mortgage Ins) $ $
Maintenance and Replacement Reserves % $
Monthly Cash Cost $
Monthly Interest for 1st Payment $
Tax Savings (% of Interest and Property Tax) % $
Equity Hidden in Payment $
Lost Income to Down Payment % $

Total Cost of Ownership $
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