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22222 Platino Mission Viejo, CA 92691

3 Beds 2 Baths 1,470 sqft Built 1975

$885,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $602.04
  • 10 Days on Market
  • MLS # : OC21004495
  • Updated Date : 01/12/2021 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Ehomes

Listing Agent's Description

WELCOME to this STUNNING well cared for home in MISSION VIEJO that is FULLY REMODELED WITH CUSTOM UPGRADES! Upon entry you will be greeted with beautiful travertine floors throughout. When you step down into the formal living room, you will notice a large built-in entertainment center with plenty of storage space, a cozy fireplace, and recessed lighting. The modern gourmet kitchen to the right includes a spacious breakfast nook, center island, granite countertops, stainless-steel appliances, a large new built-in refrigerator, with an office space nestled in the corner, and with direct access to a 2-car garage. The dining room comes complete with a matching hutch, and a large glass sliding door that pulls in plenty of natural light which leads to a spacious backyard equipped with a BBQ grill situated on a brick island perfect for entertaining guests all while enjoying the serene sounds from the built-in matching brick waterfall and the impeccable PANORAMIC CANYON AND MOUNTAIN VIEWS! As you walk down the main hallway, a full guest bathroom located straight ahead, 2 large guest bedrooms on the left, and the master suite to the right. The master bathroom features a vanity, a separate custom make-up vanity, and a walk-in closet. Also save money on your electricity bills as this home comes included with paid off SOLAR PANELS! HOA includes membership to the amazing LAKE MISSION VIEJO! WILL SELL FAST! DON'T MISS YOUR CHANCE ON THIS RARE OPPORTUNITY! ***SHOWING 11AM - 2PM ONLY***

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$796,500$973,500$885,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$3,074
Property Tax -$763
Property Insurance -$63
HOA -$45
Property Management Fees -$151
CASH FLOW
-$1,015

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.

$885,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.35%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,074

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0803$3,1004$3,2955$3,400
$3,400
RENT COMPS ANALYSIS
  • 22222 Platino Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.10
    •  
  • 21934 Mirador Mission Viejo, CA 1
    • 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
    •  
  • 21831 Shenandoah Drive Lake Forest, CA 3
    • 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
    •  
  • 21442 Brandy Wine Lane Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1978
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $2.13
    •  
  • 22242 Platino Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1975
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.04
    •  
PROPERTY LISTING DETAILS
Ann Amin
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004495
Last Updated: 01/12/2021
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