Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $478.05
- 3 Days on Market
- MLS # : OC20261549
- Updated Date : 01/08/2021 at 18:14
CONSTRUCTION
- Beds : 3
- Floor Size : 2,301 sqft
- Baths : 2 full , 1 half
Listing Agent
Homesmart, Evergreen Realty
Listing Agent's Description
Enjoy the expansive views from your master bedroom private deck retreat. Whether you are taking in the sunset or the fireworks from Mission Viejo Lake this is sure to be one of your favorite places to relax. Stroll down the staircase from the deck to enjoy the entertainer’s backyard with above ground spa, sauna, covered patio, sound system and built-in BBQ. This three-bedroom home has been remodeled to create an open floorplan and boasts many upgrades including soaking tub with massage jets, whole house fan, and three wood burning fireplaces. Enjoy the benefits of being a member at the exclusive Mission Viejo Lake Club with private beaches that allow for days of paddle boarding, sailing, fishing and much more. This home is only a few miles from the toll road, shops, golf, hiking and bike trails.
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: 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 | $3,690 |
| EXPENSES | Loan Payment | -$3,821 |
| Property Tax | -$946 | |
| Property Insurance | -$83 | |
| HOA | -$70 | |
| Property Management Fees | -$181 | |
|
CASH FLOW
-$1,410
|
||
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.
$1,100,000
PROJECTED PRICE
$3,690
PROJECTED RENT
0.34%
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
$297,250
LOAN DETAILS
$3,821
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $275,000 |
| Loan Amount | $825,000 |
0.25
YEARS SAVED
$507
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,690
LIST RENT -
$1.6
LIST RENT PER SQFT
-
$3,716
COMP ESTIMATED VALUE -
$1.62
COMP AVG. RENT PER SQFT
Comps Range
-
21795 Consuegra Mission Viejo, CA 4
- 3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1979
![property image]()
- Rent
- Rent Per SQFT
- $3,690
- $1.60
-
21455 Bastia Mission Viejo, CA 1
- 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1990
![property image]()
LEASED 08/20/19- Rent
- Rent Per SQFT
- $3,400
- $1.66
-
21641 Criptana Mission Viejo, CA 2
- 4 beds 3 baths ∙ 2,058 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,058 Sqft ∙ Built 1980
![property image]()
LEASED 01/31/20- Rent
- Rent Per SQFT
- $3,500
- $1.70
-
21411 Astoria Mission Viejo, CA 3
- 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1996
![property image]()
LEASED 09/25/20- Rent
- Rent Per SQFT
- $3,650
- $1.48
-
21106 Foxtail Mission Viejo, CA 5
- 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 1986
![property image]()
LEASED 11/25/20- Rent
- Rent Per SQFT
- $3,700
- $1.62
PROPERTY LISTING DETAILS
Homesmart, Evergreen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20261549
Last Updated: 01/08/2021
