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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $508.34
- 5 Days on Market
- MLS # : OC21016770
- Updated Date : 01/30/2021 at 19:28
CONSTRUCTION
- Beds : 4
- Floor Size : 1,918 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
**CHARMING "COASTAL CHIC" SINGLE LEVEL HOME!** Situated in the hills of Mission Viejo's coveted Madrid neighborhood, you can't miss the stunning curb appeal of this gorgeous home. The manicured landscaping created by an authentic English gardener. The classic white exterior accented with black shutters and red front double-doors. Upon entry, you're welcomed into a space bathed in natural light, with a warm, neutral palette, fine finishes, and a relaxed, upscale beach cottage vibe. This popular, well-planned layout has a remodeled kitchen with granite counters and white farmhouse cabinetry, engineered hardwood floors, and recessed lighting. In the living and dining rooms and also the spacious master suite, you'll enjoy views of the spacious, grassy, manicured yard through mullioned woodframe windows and sliders. Other windows are dual paned for energy efficiency. Bathrooms have been updated in the same neutral tones. The backyard is a delight, with a large lush lawn, built-in BBQ, fire pit, covered patio, and a towering 20' hedge for privacy which blooms gloriously each spring. And don't miss the charming English playhouse! Peek inside-it's always tea time! This one-of-a-kind home has been meticulously maintained. Within the past 2-4 years, it has been completely repiped, new water heater, new furnace and new ducting. All this, plus membership at Lake Mission Viejo, where you'll enjoy swimming, fishing, boating, concerts, entertainment and more. WELCOME HOME!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,600 |
| EXPENSES | Loan Payment | -$3,387 |
| Property Tax | -$826 | |
| Property Insurance | -$73 | |
| HOA | -$39 | |
| Property Management Fees | -$176 | |
|
CASH FLOW
-$901
|
||
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.
$975,000
PROJECTED PRICE
$3,600
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$264,125
LOAN DETAILS
$3,387
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $243,750 |
| Loan Amount | $731,250 |
1.33
YEARS SAVED
$6,109
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,600
LIST RENT -
$1.88
LIST RENT PER SQFT
-
$3,625
COMP ESTIMATED VALUE -
$1.89
COMP AVG. RENT PER SQFT
Comps Range
-
23091 Sonoita Mission Viejo, CA 5
- 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,918 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $3,600
- $1.88
-
23826 Lagarto Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975
LEASED 05/18/20- Rent
- Rent Per SQFT
- $3,250
- $1.79
-
23622 Lagarto Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975
LEASED 10/27/20- Rent
- Rent Per SQFT
- $3,400
- $1.83
-
22602 Ledana Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1977
LEASED 01/31/20- Rent
- Rent Per SQFT
- $3,600
- $2.01
-
23446 Bolivar Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975
LEASED 08/14/20- Rent
- Rent Per SQFT
- $3,600
- $1.93
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21016770
Last Updated: 01/30/2021
