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22821 Fortuna Lane Mission Viejo, CA 92691

3 Beds 2 Baths 1,485 sqft Built 1970

$849,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $571.72
  • 11 Days on Market
  • MLS # : SB21057481
  • Updated Date : 03/27/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Buckingham Investments, Inc

Listing Agent's Description

A beautiful 3-bedroom and 2-bathroom home with a pool and jacuzzi on a large lot. The dining area features a fireplace and the living room gets natural light from skylights in vaulted ceiling and French doors opening to the back yard. One of the bathrooms has skylights as well. The property features a wrap around patio and one of the bedrooms has been set up as an office.

SEE MORE

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
Los Alisos Intermediate School Middle Magnet 948 39 6
Trabuco Hills High School High Regular 2,960 112 9
Los Alisos Intermediate School Middle Unknown NA

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

Los Alisos Intermediate School

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

$764,100$933,900$849,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,949
Property Tax -$732
Property Insurance -$63
Property Management Fees -$155
CASH FLOW
-$738

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.

$849,000

PROJECTED PRICE

$3,160

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$20k

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$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $3,163

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9003$3,1604$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 22821 Fortuna Lane Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $2.13
    •  
  • 22702 Dunkenfield Circle Lake Forest, CA 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1972
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.06
    •  
  • 26101 Del Rey Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.12
    •  
  • 22552 Auburn Dale Drive Lake Forest, CA 4
    • 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1977
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.14
    •  
  • 26611 Via Del Sol Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
PROPERTY LISTING DETAILS
Mantas Kliminskas
Buckingham Investments, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21057481
Last Updated: 03/27/2021
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