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23311 Via Linda #C Mission Viejo, CA 92691

3 Beds 3 Baths 1,200 sqft Built 1985

$559,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $465.83
  • 5 Days on Market
  • MLS # : OC20246676
  • Updated Date : 11/27/2020 at 12:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,200 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful & bright 3-bedroom end unit townhome in the fabulous Ridgemont complex. Providing you a wonderful open floor plan, formal entry way & large living room with vaulted ceilings & custom plantation shutters. The downstairs features wood flooring while the upstairs boasts brand new carpet. The cozy wood or gas fireplace in the living room is perfect for those cool evenings. The spacious kitchen features stainless steel applicances, recessed ceiling with lighting, and opens to a large eating area. Enjoy a secluded patio outlined by a relatively new vinyl fence. The half bathroom downstairs is conveniently located near the entrance of the attached 2 car garage & laundry area. The master bedroom suite is private & spacious with 2 large closets, ceiling fan and a double vanity. The other 2 bedrooms share a bathroom in-between with an oversized soaking tub. The community was recently re-piped and features a pool area, jacuzzi tub & all the benefits of a membership to Lake Mission Viejo, while being conveniently located to I-5.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
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
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$2,062
Property Tax -$473
Property Insurance -$55
HOA -$350
Property Management Fees -$120
CASH FLOW
-$620

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.

$559,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,453

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $2.1

    LIST RENT PER SQFT
  • $2,445

    COMP ESTIMATED VALUE
  • $2.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,5003$2,5804$2,7005$2,995
$2,995
RENT COMPS ANALYSIS
  • 23311 Via Linda Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,160 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $2.10
    •  
  • 22901 Via Cereza Mission Viejo, CA 2
    • 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
    •  
  • 26322 Via Roble Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $2.15
    •  
  • 23361 Via Linda Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 26621 Via Cuervo Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.05
    •  
PROPERTY LISTING DETAILS
Lori Campa
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20246676
Last Updated: 11/27/2020
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