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21726 Fairbrook #44 Mission Viejo, CA 92692

3 Beds 3 Baths 1,570 sqft Built 1986

$715,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $455.41
  • 4 Days on Market
  • MLS # : OC20226284
  • Updated Date : 11/01/2020 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Total upgrade & remodel in this beautiful home. The list is long. New interior and exterior Paint with skim & retexture of all interior walls. All new energy efficient windows throughout and new French doors @ Living room. Remodeled kitchen with new cabinets, countertops, wall tile & lighting. Complete remodel of downstairs bathroom with custom sliding door. Custom double door for under stair storage. New ceramic (wood plank) tile. Rebuilt stair case & rails with stained oak treads & custom Newell posts. New base board, New switches & plugs & exterior door hardware. Serviced & replaced components AC and compressor with new WIFI thermostat Registers & grill. New cord free blinds throughout. New solid core doors to garage and side door. Elevated & refurbished fireplace with added floor to ceiling tile accents. Duplicate HDMI / Cable rough in for TV component locations. Garage has painted interior with new epoxy flooring. New irrigation/Controller/valves & sprinklers. New back yard concrete patio & landscaping with shade sail & string lighting. Added side gate for back yard access & freshly painted exterior fencing. Bring your fussy buyers they wont be disappointed.

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
Melinda Heights Elementary School Primary Regular 1,077 38 8
Melinda Heights Elementary School Middle Regular 1,077 38 8
Trabuco Hills High School High Regular 2,960 112 9

Melinda Heights Elementary School

  • Education Level: Primary
  • # of students: 1,077
  • # of teachers: 38
8
GreatSchools Rating

Melinda Heights Elementary School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 38
8
GreatSchools Rating

Trabuco Hills High School

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

$643,500$786,500$715,000

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 -$2,638
Property Tax -$615
Property Insurance -$65
HOA -$185
Property Management Fees -$142
CASH FLOW
-$755

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.

$715,000

PROJECTED PRICE

$2,890

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-$15k-$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$195,225

INVESTMENT

$195,225

Down Payment
$178,750
Rehab Estimate
$5,750
Closing Costs
$10,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $178,750
Loan Amount $536,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$3,446

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
  • $1.84

    LIST RENT PER SQFT
  • $2,991

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9003$3,0004$3,0505$3,100
$3,100
RENT COMPS ANALYSIS
  • 21726 Fairbrook Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $1.84
    •  
  • 27932 Carrington Mission Viejo, CA 2
    • 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,543 Sqft ∙ Built 1987
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.88
    •  
  • 21954 Bahamas Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1986
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.03
    •  
  • 21711 Flamenco Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1979
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.95
    •  
  • 21851 Calatrava Mission Viejo, CA 5
    • 3 beds 1 baths ∙ 1,764 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,764 Sqft ∙ Built 1979
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.76
    •  
PROPERTY LISTING DETAILS
Brett Camarata
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20226284
Last Updated: 11/01/2020
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