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22502 Platino Mission Viejo, CA 92691

3 Beds 2 Baths 1,471 sqft Built 1973

INVESTimate

$865,000

List Price

$3,080

$2,830 - $3,330

Rent Est.

$906,953  ( +4.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $588.04
  • 5 Days on Market
  • MLS # : OC20169422
  • Updated Date : 08/25/2020 at 18:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,471 sqft
  • Baths : 2 full
Listing Agent

1st Platinum Realty

Listing Agent's Description

Coveted 3 bedroom single story customized El Dali model on nearly a 1/4 acre, nicknamed the 'Silver Dollar' after it's 3 unique eucalyptus trees. Front Bee-friendly garden leads you past the copper rain chains to Mahogany doors. You're greeted by a fully updated open floor plan flooded w/ natural light.Kitchen fully renovated w/ high-end finishes, large island, pantry drawers, Silestone & Quartzite countertops (notch up from marble), stainless steel Kobe hood, silent Bosch dishwasher, & farmhouse sink. Interior colors blend seamlessly w/ exterior for an indoor/outdoor space. Wide-plank Oak flooring is luxurious & durable.Garden is perfect for coffee/sunset drinks in the hammock w/ hummingbird visitors.At night, enjoy dimmable lighting throughout & snuggles by the fireplace.Bathrooms boast marble counters/pebble accents. Walk-in closet has room for dressing. Master has custom *true* black-out curtains & if you wish, sunrise is visible from your pillow! Fruit trees- key lime, grapefruit, blood orange, avocado, pom, kiwi, & apple.Area is phenomenal for kids/dogs/nature-lovers,access to Lake Mission Viejo, Wilderness Glen, Pebble Creek Park (playground), & paths that connect to miles of nature trails.Great for a walk/run/bike, or romantic stroll!Recent renovations; roof, HVAC, exterior lifetime warranty paint, interior paint, copper gutters, fence, & drought-tolerant, native landscaping. Side yard w/ 11'x30' RV parking spot. Excellent amenities including Terra Sushi & Sprouts!

SEE MORE

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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
 

$778,500$951,500$865,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$3,191
Property Tax -$745
Property Insurance -$63
HOA -$38
Property Management Fees -$151
CASH FLOW
-$1,108

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.

$865,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.85%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$234,975

INVESTMENT

$234,975

Down Payment
$216,250
Rehab Estimate
$5,750
Closing Costs
$12,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,191

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $216,250
Loan Amount $648,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,081

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
  • $2.09

    LIST RENT PER SQFT
  • $3,078

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0803$3,1004$3,2505$3,400
$3,400
RENT COMPS ANALYSIS
  • 22502 Platino Mission Viejo, 2
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $2.09
    •  
  • 21812 Contento Mission Viejo, 1
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1976
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.22
    •  
  • 22666 Via Tercero Mission Viejo, 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1974
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.00
    •  
  • 22811 Modesto Drive Mission Viejo, 4
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1971
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.11
    •  
  • 22242 Platino Mission Viejo, 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
Alisa Latman
1st Platinum Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20169422
Last Updated: 08/25/2020
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