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21031 Morningside Drive Rancho Santa Margarita, CA 92679

3 Beds 2 Baths 1,500 sqft Built 1989

$875,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $583.33
  • 5 Days on Market
  • MLS # : OC21016491
  • Updated Date : 01/29/2021 at 08:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming SINGLE-LEVEL POOL HOME with SUNSET VIEWS in the desirable foothill community of Robinson Ranch! Majestic, close-up Saddleback Mountain Views greet you from your front yard/drive upon entry. Ample street parking and driveway afford plenty of parking for guests. Upgrades include: Cocktail pool/spa with spillway, newer windows, bamboo flooring and updated kitchen! Enter to an open concept floor plan boasting natural light and vaulted ceilings from living room and dining room leading around to the kitchen/family room. The kitchen is beautifully appointed with granite countertops, stainless appliances, and barstool height breakfast island! Family room includes a cozy fireplace and sliding doors lead to the delightful backyard. Master suite features high ceilings, a private bath with shower, dual sink granite vanity, and walk in closet! Two additional bedrooms are serviced by a hall bath. The backyard is spacious – featuring a large open patio area with plenty of room to entertain a large group! Pebble Tec “Cocktail Pool/Spa” features a Baja Step with umbrella stand, 12 jets, smart controls, and a fountain/spillway! Plumbed for a gas firepit/fireplace too! Enjoy nightly sunsets, and peaceful views that stretch all the way to the ocean on a clear day. There is an additional section in the backyard to add a lawn, garden, play area, or add-on to the house! Community Amenities include Olympic sized Pool, Access to Trails, Parks, Sport Courts Tot Lot & Much More!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Trabuco Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900k950kPrice in $272k964k

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

Neighborhood: Trabuco Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q220002200240026002800300032003400360038004000Rent in $19814166

* 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
Rancho Santa Margarita Intermediate School Middle Regular 1,353 53 8
Mission Viejo High School High Magnet 2,438 92 8
Rancho Santa Margarita Intermediate School Middle Unknown NA

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 53
8
GreatSchools Rating

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$3,039
Property Tax -$752
Property Insurance -$63
HOA -$159
Property Management Fees -$142
CASH FLOW
-$1,265

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.

$875,000

PROJECTED PRICE

$2,890

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
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-$20k-$15k-$10k-$5.0k$0.0$5.0k

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$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$81

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $2,914

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,645
1$2,6452$2,8903$3,2004$3,3505$3,500
$3,500
RENT COMPS ANALYSIS
  • 21031 Morningside Drive Rancho Santa Margarita, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.93
    •  
  • 44 Carnation Rancho Santa Margarita, CA 1
    • 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1986
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,645
    • $2.00
    •  
  • 31952 Pleasant Glen Road Rancho Santa Margarita, CA 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1985
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.88
    •  
  • 32005 Pleasant Glen Road Rancho Santa Margarita, CA 4
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1984
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $2.00
    •  
  • 21051 Silverado Drive Rancho Santa Margarita, CA 5
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1987
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.89
    •  
PROPERTY LISTING DETAILS
Sheri Isaacs
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21016491
Last Updated: 01/29/2021
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