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21981 Tobarra Mission Viejo, CA 92692

3 Beds 3 Baths 1,540 sqft Built 1987

$799,999

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $519.48
  • 3 Days on Market
  • MLS # : OC21029638
  • Updated Date : 02/13/2021 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Come live your best life in this upgraded Evergreen Lakeview home that boasts of sweeping valley views with a peek-a-boo view of Lake Mission Viejo. Overflowing with curb appeal from the moment you pull up and glide up the meticulously manicured front yard. Breeze through the door and gaze upon a formal living and dining room with gorgeous wood flooring and a two-sided fireplace creating a warm, inviting space for entertaining. The remodeled kitchen features granite counters, crisp, white cabinetry, recessed lighting and a newer gas stove and microwave. Great size bedrooms upstairs gives everyone a place to retreat. The primary bedroom enjoys cathedral ceilings, a shaded balcony with views, a walk-in closet and a remodeled bathroom. Sweep through the beveled glass patio door to the large covered patio where you can create the perfect outdoor living and dining area to enjoy those breathtaking valley views. The two car garage makes parking a breeze and provides extra storage space. There is plenty of room for play in the great size backyard too. Low HOA fees plus access to Lake Mission Viejo where outdoor enjoyment abounds with fishing, boating, kayaking, lakeside beach and so many other membership privileges. Surrounded by an abundance of shopping, dining and entertainment venues too. Highly ranked schools will provide an excellent education to the kids. What are you waiting for? To see it is to love it!

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: Evergreen Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Evergreen Lakeview

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $16423818

* 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
Rancho Santa Margarita Intermediate School Middle Regular 1,353 53 8
Trabuco Hills High School High Regular 2,960 112 9
Rancho Santa Margarita Intermediate School Middle Unknown NA

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 53
8
GreatSchools Rating

Trabuco Hills High School

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

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$719,999$879,999$799,999

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$2,779
Property Tax -$688
Property Insurance -$64
HOA -$127
Property Management Fees -$151
CASH FLOW
-$719

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.

$799,999

PROJECTED PRICE

$3,090

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.5%
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$217,750

INVESTMENT

$217,750

Down Payment
$200,000
Rehab Estimate
$5,750
Closing Costs
$12,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,779

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $200,000
Loan Amount $599,999
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$5,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $2.01

    LIST RENT PER SQFT
  • $3,165

    COMP ESTIMATED VALUE
  • $2.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0903$3,1004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 21981 Tobarra Mission Viejo, CA 2
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $2.01
    •  
  • 21771 Tegley Mission Viejo, CA 1
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 27937 Carrington Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.01
    •  
  • 6 Paseo Azuceno Rancho Santa Margarita, CA 4
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1998
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.00
    •  
  • 21881 Bahamas Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
PROPERTY LISTING DETAILS
Brian Morales
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21029638
Last Updated: 02/13/2021
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