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104 Hartford Drive 
Newport Beach, CA
92660
3 Beds 3 Baths 1,741 sqft
Built 1984
INVESTimate
$925,000
List Price
$250,875
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PROPERTY INFO
FACTS
- Built In 1984
- Price/Sqft : $531.30
- 3 Days on Market
- MLS # : NP20173115
- Updated Date : 08/25/2020 at 09:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,741 sqft
- Baths : 3 full
Listing Agent
Pacific Sotheby's Int'l Realty
Listing Agent's Description
Welcome home to this popular plan in the gated community of Bayridge! This 3 bedroom, 3 bath townhouse is situated in a prime, quiet location and has recently been updated with new floors, fresh paint, new hardware and stainless steel appliances. Rarely on the market, buyers love this floor plan with the downstairs bedroom and full bath, open living and dining room with vaulted ceilings, fireplace and the access to the cozy side patio. The upstairs features a large main bedroom suite with dual sinks and a second en-suite bedroom. Inside laundry, attached 2-car garage with extra storage and close-by guest parking makes this condo stand out to the most discriminating buyers. Community amenities feature pool and spa, two gates, pretty landscaping and this location is central to all the OC fun including the John Wayne airport, UCI, Fashion Island and the many Back Bay trails and Newport beaches!
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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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- As part of Southern California area, Orange County market inherits all the benefits from the area.
- 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)
PRICE & RENT TRENDS
Neighborhood: Bayridge Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Bayridge Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,860 |
| EXPENSES | Loan Payment | -$3,413 |
| Property Tax | -$840 | |
| Property Insurance | -$69 | |
| HOA | -$477 | |
| Property Management Fees | -$189 | |
|
CASH FLOW
-$1,128
|
||
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.
$925,000
PROJECTED PRICE
$3,860
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.98% |
| Appreciation Year (1-5) | 8.38% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.31% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$250,875
LOAN DETAILS
$3,413
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $231,250 |
| Loan Amount | $693,750 |
0.33
YEARS SAVED
$870
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,860
LIST RENT -
$2.22
LIST RENT PER SQFT
-
$3,856
COMP ESTIMATED VALUE -
$2.22
COMP AVG. RENT PER SQFT
Comps Range
-
104 Hartford Drive Newport Beach, 2
- 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
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- Rent
- Rent Per SQFT
- $3,860
- $2.22
-
132 Westport Newport Beach, 1
- 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
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LEASED 12/15/19- Rent
- Rent Per SQFT
- $3,600
- $2.07
-
39 Hartford Drive Newport Beach, 3
- 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1984
![property image]()
LEASED 01/28/20- Rent
- Rent Per SQFT
- $3,950
- $2.27
-
545 Vista Flora Newport Beach, 4
- 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1964
![property image]()
LEASED 06/11/20- Rent
- Rent Per SQFT
- $4,000
- $2.30
-
309 Vista Suerte Newport Beach, 5
- 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,849 Sqft ∙ Built 1970
![property image]()
LEASED 07/06/20- Rent
- Rent Per SQFT
- $4,100
- $2.22
PROPERTY LISTING DETAILS
Pacific Sotheby's Int'l Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NP20173115
Last Updated: 08/25/2020
