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22932 Via Pimiento # 1K Mission Viejo, CA 92691

3 Beds 1 Baths 1,200 sqft Built 1971

INVESTimate

$450,000

List Price

$2,560

$2,310 - $2,810

Rent Est.

$475,380  ( +5.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $375.00
  • 5 Days on Market
  • MLS # : OC20168616
  • Updated Date : 08/24/2020 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 1 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Condo – Single-level “Aliso Villas” in Mission Viejo – 3 bedrooms, 2 baths, 1,200 sq. ft. condominium. Rare! Single level condos with a large, covered, private patio off the dining room area is a rare find—an even greater investment! Recently updated with new flooring and paint throughout. The kitchen has recently been remodeled with handsome Gray Mohak Oak laminate flooring (waterproof and scratch-resistant). Beautiful custom tiles in both bathrooms. The “Aliso Villas” condo has a beautiful floor plan offering the open-concept feel with the living room opening to the kitchen and dining areas. Master suite includes a walk-in closet and a beautiful master bath updated with custom tile work and modern tile flooring. Enjoy the one car, detached garage located close to the condo, and one assigned parking spot conveniently located directly in front of the condo making life easier. Move in ready!

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: Aliso Villas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $150k787k

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

Neighborhood: Aliso Villas

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800300032003400Rent in $10813492

* 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
Glen Yermo Elementary School Primary Regular 388 15 5
Los Alisos Intermediate School Middle Magnet 948 39 6
Mission Viejo High School High Magnet 2,438 92 8

Glen Yermo Elementary School

  • Education Level: Primary
  • # of students: 388
  • # of teachers: 15
5
GreatSchools Rating

Los Alisos Intermediate School

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

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,660
Property Tax -$388
Property Insurance -$56
HOA -$379
Property Management Fees -$125
CASH FLOW
-$49

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$450,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.64%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$29,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,577

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5004$2,5605$2,900
$2,900
RENT COMPS ANALYSIS
  • 22932 Via Pimiento Mission Viejo, 4
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $2.13
    •  
  • 25845 Via Pera Mission Viejo, 1
    • 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,150 Sqft ∙ Built 1975
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $2.09
    •  
  • 26102 Via Pera Mission Viejo, 2
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1972
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.19
    •  
  • 22901 Via Cereza Mission Viejo, 3
    • 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,141 Sqft ∙ Built 1971
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $2.19
    •  
  • 26101 Del Rey Mission Viejo, 5
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.12
    •  
PROPERTY LISTING DETAILS
Jamie Andrews
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20168616
Last Updated: 08/24/2020
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