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23204 Villena Mission Viejo, CA 92692

3 Beds 2 Baths 1,503 sqft Built 1985

$650,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $432.47
  • 3 Days on Market
  • MLS # : OC21024872
  • Updated Date : 02/05/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Re/max First Class

Listing Agent's Description

Beautiful home on small cul-de-sac. This is a Rosa floorplan with two bedrooms, two baths, plus a den and two car attached garage. The home offers 1503 square feet. Newer windows and sliders throughout. Newer plantation shutters throughout. Newer 75 gallon hot water heater. Newer heating and air conditioning. Light and bright throughout. A beautiful place to call home. Association offers two recreation center which offers pool, spa, club house, tennis, gym, paddle tennis, shuffleboard courts, billiards & much more. Trash pickup & outside painting are covered by the association. This is a 55+

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Casta del Sol

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $239k787k

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

Neighborhood: Casta del Sol

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21600180020002200240026002800300032003400Rent in $15053492

* 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
Castille Elementary School Primary Regular 618 21 7
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Castille Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 21
7
GreatSchools Rating

Newhart Middle School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 51
7
GreatSchools Rating

Capistrano Valley High School

  • Education Level: High
  • # of students: 2,384
  • # of teachers: 86
9
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,258
Property Tax -$550
Property Insurance -$63
HOA -$444
Property Management Fees -$140
CASH FLOW
-$596

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.

$650,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $2,852

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$2,8004$2,8605$2,950
$2,950
RENT COMPS ANALYSIS
  • 23204 Villena Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.90
    •  
  • 28393 Alava Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1985
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.87
    •  
  • 28286 Zurburan Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.86
    •  
  • 28515 Barbosa Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.86
    •  
  • 23761 Calle Azorin Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.00
    •  
PROPERTY LISTING DETAILS
Kelly Arshi
Re/max First Class
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21024872
Last Updated: 02/05/2021
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