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21862 Empanada Mission Viejo, CA 92691

3 Beds 2 Baths 1,546 sqft Built 1976

$850,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1976
  • Price/Sqft : $549.81
  • 6 Days on Market
  • MLS # : PW20228867
  • Updated Date : 10/29/2020 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

WHAT AN AMAZING PROPERTY! This beautiful turnkey three bedroom home truly captivates modern Southern California living style with spacious floor plans with indoor/outdoor spaces. There is a large living room and formal dining room with Beautiful wood Flooring throughout this well lit open Floor plan. The backyard is an entertainers Dream with great Views a large Patio cover and a beautifully landscape garden. Enjoy cooking in the airy gourmet kitchen with granite counter tops and beautifully updated cabinetry, custom backsplash, new tile floors,large farm house sink,new stove and new tile flooring. The spacious master suite with a vanity, plenty of room for a King size bed with nightstands, new luxurious plush carpet, with elegant tile flooring. The other two bedrooms are spacious and beautiful crown molding. Tastefully painted throughout the house Short distance to top rated schools, parks, shopping, restaurants, and freeways/toll roads. The Best Part is the house has PAID OFF Solar with saves you hundreds on your electricity Bill!

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

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
Del Lago Elementary School Primary Regular 659 23 5
Los Alisos Intermediate School Middle Magnet 948 39 6
Trabuco Hills High School High Regular 2,960 112 9

Del Lago Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 23
5
GreatSchools Rating

Los Alisos Intermediate School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 39
6
GreatSchools Rating

Trabuco Hills High School

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

$765,000$935,000$850,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$3,136
Property Tax -$732
Property Insurance -$64
Property Management Fees -$152
CASH FLOW
-$975

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.

$850,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.37%

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-$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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $3,111

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9503$2,9754$3,1005$3,110
$3,110
RENT COMPS ANALYSIS
  • 21862 Empanada Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $2.01
    •  
  • 27163 El Moro Mission Viejo, CA 1
    • 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1976
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.92
    •  
  • 21934 Mirador Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1981
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 21932 Esplendor Mission Viejo, CA 3
    • 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,546 Sqft ∙ Built 1976
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.92
    •  
  • 21831 Shenandoah Drive Lake Forest, CA 4
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1980
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
PROPERTY LISTING DETAILS
Daniel Deforest
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20228867
Last Updated: 10/29/2020
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