Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

23386 Via Bahia Mission Viejo, CA 92691

4 Beds 2 Baths 1,463 sqft Built 1973

$779,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $532.47
  • 18 Days on Market
  • MLS # : OC21139251
  • Updated Date : 07/06/2021 at 09:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,463 sqft
  • Baths : 2 full
Listing Agent

Westgate Realty

Listing Agent's Description

The home you have been waiting for has arrived. This highly coveted Barcelona home has a fantastic location situated on a single loaded street, and directly across from the community park. Views toward the beach and the accompanying ocean breezes will make you fall in love with this home. This property has no HOA fees and no mello roos. A completely remodeled kitchen, with direct access to your private oasis awaits. Enjoy the manicured landscaping in your private yard. This home has been completely repiped, and flooring was installed a year ago. This home features 4 bedrooms, one down, and 3 up. Quick access to hiking and biking trails, Lake Mission Viejo, shopping, freeway and more. Don't wait too long, this home is expected to go fast.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

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
 

$701,100$856,900$779,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,706
Property Tax -$662
Property Insurance -$62
Property Management Fees -$156
CASH FLOW
-$406

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.

$779,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,185

INVESTMENT

$212,185

Down Payment
$194,750
Rehab Estimate
$5,750
Closing Costs
$11,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,706

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,750
Loan Amount $584,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$20,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $2.17

    LIST RENT PER SQFT
  • $3,124

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0603$3,1804$3,2505$3,300
$3,300
RENT COMPS ANALYSIS
  • 23386 Via Bahia Mission Viejo, CA 3
    • 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $2.17
    •  
  • 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 05/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.12
    •  
  • 26401 Alhondra Place Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1971
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $2.11
    •  
  • 26611 Via Del Sol Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
  • 23831 San Esteban Drive Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.11
    •  
PROPERTY LISTING DETAILS
John Doyle
Westgate Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21139251
Last Updated: 07/06/2021
BESbswy