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10 Melrose Mission Viejo, CA 92692

3 Beds 3 Baths 1,905 sqft Built 1995

$779,000

List Price

$3,440

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $408.92
  • 6 Days on Market
  • MLS # : PW21032636
  • Updated Date : 02/18/2021 at 08:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Pro 100

Listing Agent's Description

Join worthroom to tour our home virtually, view all photos, disclosures, offer activity/status, and make offers directly online. List price is minimum starting offer.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Melrose

NeighborhoodNIR Market*CityMarket2010Year20002019300k400k500k600k700k800k900k1000k1100k1200k1300k1400k1500k1600kPrice in $272k1641k

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

Neighborhood: Melrose

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2200025003000350040004500500055006000Rent in $15346043

* 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
Bathgate Elementary School Primary Regular 708 23 7
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Bathgate Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 23
7
GreatSchools Rating

Newhart Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 51
7
GreatSchools Rating

Capistrano Valley High School

  • Education Level: High
  • # of students: 2,384
  • # of teachers: 86
9
GreatSchools Rating
 

$701,100$856,900$779,000

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$2,706
Property Tax -$654
Property Insurance -$73
HOA -$195
Property Management Fees -$169
CASH FLOW
-$356

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.

$779,000

PROJECTED PRICE

$3,440

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.98%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,706

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$20,003

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $3,629

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$3,440
1$3,4402$3,5003$3,5004$3,5505$3,700
$3,700
RENT COMPS ANALYSIS
  • 10 Melrose Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.81
    •  
  • 20 Montgomery Mission Viejo, CA 2
    • 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,780 Sqft ∙ Built 1994
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.97
    •  
  • 27871 Vicenza Court Mission Viejo, CA 3
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.02
    •  
  • 25985 Ravenna Road Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1993
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.86
    •  
  • 26035 Ravenna Road Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1992
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.77
    •  
PROPERTY LISTING DETAILS
Tasdow Star Polopek
Realty Pro 100
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21032636
Last Updated: 02/18/2021
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