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21791 Lanar Mission Viejo, CA 92692

3 Beds 2 Baths 1,561 sqft Built 1979

$708,888

List Price

$3,230

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $454.12
  • 6 Days on Market
  • MLS # : OC20250235
  • Updated Date : 12/26/2020 at 14:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,561 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Fabulous Three Bedroom Home Offers A Spacious Open Floor Plan And Loads of New Upgrades. The Living/Dining Area Boast Grand Vaulted Ceilings. Kitchen is Bright With Stainless Steel Appliances, Ample Counter Space, And A Breakfast Bar. A Separate Family Room With Fireplace. Beautifully Engineered Wood Floors Throughout. Elegant Ceramic Tile Floors In Baths And Laundry Room. Master Includes A Walk In Closet And Overlooks The Rear Yard With An Inviting Patio. Home Includes Dual Paned/UV Coated Windows And Sliders, Whole House Water Filter, Reverse Osmosis In Kitchen, Nest Thermostat, Bead Board Paneling In Family Room, Kitchen, Laundry, And Master Bath. Wainscoting And Moldings In Living Room, Hallways, Dining Room, And Guest Bath. Bathroom Vanities With Granite Counters. Kitchen Wine Fridge. Whole House Attic Fan. Central Air / HVAC. Brand New GE Dishwasher. Built-In Garage Cabinets. New Interlocking Garage Floor Tiles. Enjoy Relaxing Or Entertaining In The Backyard With Gorgeous Sunset Views, Herbs, Tangerine, Orange, Fig And Pomegranate Trees, And A Small Water Feature. A 300 Sq Ft Solid Roof Covered Patio Area With TV. Separate Patio Cover For Master Bedroom Patio Offers Additional Quiet Relaxation And Entertaining. Equipped With Solar Panels Through Tesla (Solar City), Ring Doorbell, Herringbone Brick And Concrete Walkway. Just Blocks To Melinda Park. Saddleback Award Winning School District. Membership To Lake Mission Viejo Is Enjoyed Also! This Home Has It All!

SEE MORE

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 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Mission Viejo

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Mission Viejo

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $18713818

* 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
 

$637,999$779,777$708,888

PURCHASE PRICE

$2,907$3,553$3,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,230
EXPENSES Loan Payment -$2,615
Property Tax -$610
Property Insurance -$65
HOA -$60
Property Management Fees -$158
CASH FLOW
-$278

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.

$708,888

PROJECTED PRICE

$3,230

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$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$193,605

INVESTMENT

$193,605

Down Payment
$177,222
Rehab Estimate
$5,750
Closing Costs
$10,633

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,615

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $177,222
Loan Amount $531,666
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$30,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,230

    LIST RENT
  • $2.07

    LIST RENT PER SQFT
  • $2,880

    COMP ESTIMATED VALUE
  • $1.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,2304$3,4755$3,550
$3,550
RENT COMPS ANALYSIS
  • 21791 Lanar Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,230
    • $2.07
    •  
  • 6 Paseo Girasol Rancho Santa Margarita, CA 1
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.87
    •  
  • 28943 Paseo Sabatini Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,695 Sqft ∙ Built 1997
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.77
    •  
  • 21406 Carabela Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1996
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,475
    • $1.85
    •  
  • 21701 Criptana Mission Viejo, CA 5
    • 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 1979
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.89
    •  
PROPERTY LISTING DETAILS
Devin Doherty
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20250235
Last Updated: 12/26/2020
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