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21635 Fernbrook #191 Mission Viejo, CA 92692

3 Beds 2 Baths 1,570 sqft Built 1987

$735,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $468.15
  • 3 Days on Market
  • MLS # : OC21038660
  • Updated Date : 02/26/2021 at 14:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,570 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautifully upgraded 3 bedroom Cape Cod style home with a large backyard!! Located on a cul-de-sac street in the Eastbrook Tract! Home features a remodeled kitchen with granite countertops, stainless steel appliances, crown molding, recessed lighting, bay window, white cabinets with soft close drawers and a breakfast nook with a sliding door leading to the side yard. The living room has a tile faced fireplace, plantation shutters, high ceilings, recessed lighting, and a dining room with crown molding and ceiling fan with lights. Guest bathroom on the main floor has been upgraded with crown molding, pedestal sink and tile flooring. Upstairs is a beautiful master suite with vaulted ceilings, ceiling fan with lights, plantation shutters, walk-in closet and gorgeous remodeled master bath with quartz countertops and a tiled walk-in shower with dual shower heads. Two additional bedrooms have ceiling fans with lights and plantation shutters. Easy to care for wood laminate on both floors. Enjoy relaxing in the large spacious yard that backs up to Oso Creek. There is a two car attached garage and driveway. Located in close proximity to Florence Joyner Olympiad Park, Eastbrook Park and schools!! Also enjoy all the Lake Mission Viejo Lake amenities; The Lake, Boating, Beaches, Fishing, Concerts and so much more!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $234k922k

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

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200340036003800Rent in $12553818

* 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
Trabuco Hills High School High Regular 2,960 112 9
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

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating

Rancho Santa Margarita Intermediate School

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

$661,500$808,500$735,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$2,553
Property Tax -$632
Property Insurance -$65
HOA -$185
Property Management Fees -$146
CASH FLOW
-$611

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.

$735,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.1%
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-$10k-$5.0k$0.0$5.0k$10k$15k

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1.89

    LIST RENT PER SQFT
  • $3,270

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,970
1$2,9702$3,0003$3,1004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 21635 Fernbrook Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.89
    •  
  • 21771 Tegley Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 27521 Cabeza Mission Viejo, CA 3
    • 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.11
    •  
  • 27937 Carrington Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.01
    •  
  • 21881 Bahamas Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
PROPERTY LISTING DETAILS
Shauna Fogal
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21038660
Last Updated: 02/26/2021
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