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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$193,605
LOAN DETAILS
$2,615
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $177,222 |
| Loan Amount | $531,666 |
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
-
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
Exp Realty Of California Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20250235
Last Updated: 12/26/2020
