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Shevy Akason
949.769.1599
shevy@findmylandmark.com




Newport Beach, Bike to the ocean, 3 bed, 3 bath, nearly 1800 square feet!

 
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  This is a fantastic investment opportunity. This property needs to be fully remodeled. I recommend offering $387,000 on this property. Taking into account that you will need to put circa $60,000 in upgrades into the property making your total investment $447,000. Remodeled this home should easily lease for $2900/month. Using the IHB calculator - the 1% it uses for maintenance in repairs (most of which is covered in the HOA) since it's a condo you will have about $200 cash flow/month or cash savings over rent. Moreover, if you take into account the tax savings and money that will go towards principle you have benefit of circa $500/month.
Shevy Akason  Residential    
 
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Newport Heights (N6)
Orange County (OR)
Media: 14
 
 
Contact Information
This Report was created by:
Listing Activity


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 $
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
1  S548512  CONDO  A  101 Columbia St   NB/ N6  888G6  NEWC /Z  3  3/3  3  2  1,800  1973  12  Months  $3,600  144 
Average 3     2 1,800   12   $3,600 144
Number of Properties: 1
Average ( ListPrice / SqFt ) : ( 3600 / 1800 ) = $ 2.00

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
1  S527369  CONDO  A  12 Aries Ct   NB/ N6  888G5  NEWC /0  3  3/2  3  2  1,505  1973  12  Months  $2,300  $1.53  104.55%  104.55%  4/23/2008  9 
2  U8003604  CONDO  D  6 Kamalii Ct   NB/ N6  888G6  NEWC /Z  3  3/2  2  2  1,640  1973  0  Months  $2,700  $1.65  93.10%  93.10%  10/01/2008  50 
3  U8004836  CONDO  A  22 Encore Ct   NB/ N6  888G6  NEWC /Z  3  3/2  2  2  1,800  1973  12  Months  $2,800  $1.56  96.55%  77.78%  2/01/2009  96 
4  S517369  CONDO  A  11 Wild Goose Ct 60  NB/ N6  888G5  NEWC /7  3  3/2  3  2  1,622  1973  12  Months  $2,900  $1.79  100.00%  100.00%  4/15/2008  68 
5  P658481  CONDO  A  4 Robon Ct 4  NB/ N6  888G5  NEWC /2  3  3/2  3  2  1,640  1978  1  Months  $3,000  $1.83  100.00%  1.00%  11/01/2008  15 
6  U8003628  CONDO  A  8 Encore Ct 242  NB/ N6  888G6  NEWC /0  3  3/2  2  2  1,640  1973  0  Months  $3,050  $1.86  98.39%  98.39%  9/15/2008  20 
7  U8002834  CONDO  A  5 KIALOA   NB/ N6  888G6  NEWC /0  4  3/2  3  2  1,800  1973  12  Months  $3,400  $1.89  100.00%  106.25%  7/18/2008  27 
Average 3     2 1,664   9   $2,878 $1.73 98.94% 83.01%   41
Number of Properties: 7
Average ( SalePrice / SqFt ) : ( 2878 / 1664 ) = $ 1.73

Comparative Market Analysis

 

Property Type:   Residential       Status:   Active
Subject
Property		                  
# MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f St Gar A/D SqFt YBlt List Price DOM
1  S563545  CONDO  A  NB/ N6  888G5  NEWC /0  3  3/2  3  2  A  1,774  1973  $389,900  3 
2  U9000655  CONDO  A  21 Baruna Ct 64  NB/ N6  888G6  NEWC /0  2  3/2  3  2  A  1,572  1973  $469,000  8 
3  S552969  CONDO  A  9 Escapade Ct 295  NB/ N6  888G6  NEWC /o  2  2/2  2  2     1,178  1973  $489,900  102 
4  U8002567  CONDO  A  4 Kamalii Ct 275  NB/ N6  888G6  NEWC /7  3  3/2  2  1  A  1,640  1973  $619,000  255 
5  S544790  CONDO  A  101 Columbia St   NB/ N6  888G6  NEWC /Z  3  3/3  3  2  A  1,800  1973  $799,000  177 
6  S549190  CONDO  A  10 Tribute Ct   NB/ N6  888G6  NEWC /1  3  3/2  2  2     1,640  1973  $799,000  139 
Average 3     2   1,601   $594,300 114
Number of Properties: 6
Average ( ListPrice / SqFt ) : ( 594300 / 1601 ) = $ 371.21

Property Type:   Residential       Status:   Pending
Subject
Property		                    
# MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f St Gar A/D SqFt YBlt List Price Pending Date DOM
1  U9000653  SFR  A  2 Odyssey Ct   NB/ N6  888G6  NEWC /X  3  3/2  3  2     1,640  1973  $519,000  2/06/2009  1 
2  U8005181  CONDO  A  11 Odyssey Ct 122  NB/ N6  888G6  NEWC /0  2  3/2  3  2     1,578  1973  $630,000  12/02/2008  25 
Average 3     2   1,609   $574,500   13
Number of Properties: 2
Average ( ListPrice / SqFt ) : ( 574500 / 1609 ) = $ 357.05

Property Type:   Residential       Status:   Sold
Subject
Property		                          
# MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f St Gar A/D SqFt YBlt Sold Price SP/ SqFt SP/LP SP/OLP Sold Date DOM
1  U8005364  CONDO  A  10 Ima Loa Ct   NB/ N6  888G6  NEWC /1  2  2/1  2  2  A  1,178  1973  $450,000  $382.00  94.74%  91.84%  2/09/2009  42 
2  S555030  CONDO  A  402 Columbia St 52  NB/ N6  888G6  NEWC /*  3  2/1  2  2     1,584  1973  $469,000  $296.09  94.75%  94.75%  2/10/2009  28 
3  U8003412  CONDO  A  2 Baruna Ct 43  NB/ N6  888G6  NEWC /0  2  2/2  S  3  A  1,290  1973  $484,000  $375.19  92.37%  85.66%  12/31/2008  98 
4  P662827  CONDO  A  12 Goodwill Ct 34  NB/ N6  888G5  NEWC /2  3  3/2  2  2  A  1,640  1973  $480,000  $292.68  91.45%  84.23%  12/30/2008  15 
5  S536641  CONDO  A  10 Escapade Ct 294  NB/ N6  888G6  NEWC /z  2  2/2  2  2  A  1,178  1973  $532,000  $451.61  99.44%  99.44%  8/29/2008  32 
6  U8004571  CONDO  A  102 Columbia St 5  NB/ N6  888G6  NEWC /4  3  3/2  3  2     1,787  1973  $550,000  $307.78  95.67%  95.67%  10/30/2008  6 
Average 3     2   1,443   $494,166 $350.89 94.73% 91.93%   37
Number of Properties: 6
Average ( SalePrice / SqFt ) : ( 494166 / 1443 ) = $ 342.46




Shevy Akason and Associates
"We're not Just Real Estate agents, we're real estate consultants"
Shevy Akason | Realtor | Evergreen Realty
 Phone 949.769.1599 | Fax 949.753.0671
findmylandmark.com
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