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23304 Coso #130 Mission Viejo, CA 92692

3 Beds 2 Baths 1,679 sqft Built 1980

$579,900

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $345.38
  • 5 Days on Market
  • MLS # : OC20264492
  • Updated Date : 01/02/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,679 sqft
  • Baths : 2 full
Listing Agent

Conradsen, Bjarne, Broker

Listing Agent's Description

Enjoy expansive view of the Casta Del Sol golf course (public)-surrounding area from this eclectic unit. Plenty of storage AND extra-large loft & lrg bonus bedroom, w/under-eaves cabinets/ storeage. Vaulted-ceiling LivingRm - updated lighting, and Brazilian cherry hardwood flooring. Charming kitchen looks out to the DiningRm and on to the spectacular view beyond. Inside is a full laundry, pantry, custom hanging pot rack, 4 burner gas stove, stainless dishwasher, and casual eating area. The spacious Dining area overlooks a LivingRm with romantic fireplace and wall of windows showcasing the golf course view. A private patio with room for barbecue and intimate mornings overlooking the golf course. The master BedRm provides a large walk in closet, and more views of the golf course. The cozy, secluded 2nd bdrm is on the same level opposite the kitchen. Upstairs is a fantastic loft large enough to be a FamilyRm /office, plus a generous 3rd bd Rm. This home is just a few mins walk to great dining and shopping overlooking Lake Mission Viejo. As homeowners, you'll enjoy full use of Lake Mission Viejo's 2 beaches, clubhouse, fishing, boating, private areas for your special events. The community has a recently-renovated pool area for you to swim laps, enjoy the sun, unwind in the Jacuzzi. The garage has extra storage loft. Aurora Park is just outside main gate, offering sports & picnic areas, playground, walking trails, and dog park, Exterior of tract had 4 million $ upgrades it show

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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: Alta Finisterra

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800k900kPrice in $188k922k

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

Neighborhood: Alta Finisterra

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600280030003200340036003800Rent in $11443818

* 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
 

$521,910$637,890$579,900

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,140
Property Tax -$491
Property Insurance -$64
HOA -$474
Property Management Fees -$142
CASH FLOW
-$411

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.

$579,900

PROJECTED PRICE

$2,900

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $1.91

    LIST RENT PER SQFT
  • $3,059

    COMP ESTIMATED VALUE
  • $2.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8953$2,9004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 23304 Coso Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.91
    •  
  • 23361 Via Linda Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 27936 Mazagon Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 1978
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.93
    •  
  • 27872 Calle Marin Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.94
    •  
  • 27939 Chiclana Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1978
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.14
    •  
PROPERTY LISTING DETAILS
Conrad Conradsen
Conradsen, Bjarne, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20264492
Last Updated: 01/02/2021
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