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23502 Campestre Mission Viejo, CA 92691

3 Beds 1 Baths 1,812 sqft Built 1975

$850,000

List Price

$3,360

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $469.09
  • 3 Days on Market
  • MLS # : PW21044980
  • Updated Date : 03/05/2021 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 1 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Desirable Madrid single-story home with wonderful views in the heart of Mission Viejo. After entering the home through the lovely double door entry you will find an immaculately kept home. Newly painted interior features an open and spacious floor plan. Formal living room and formal dining room have cathedral ceilings and look out to the backyard with expansive views. Family room is cozy with a fireplace and is right off of the kitchen with breakfast nook, granite countertops and tasteful stone back splash. Windows and sliders are newer and accentuate the super clean feel to the home. Large secondary bedrooms with ceiling fans share a full bath. Master has ample closet space, mirrored closet doors, ceiling fan, large bathroom and more view! Backyard is very low maintenance and includes covered patio, and citrus trees. Two car attached garage with storage. Truly a special home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
 

$765,000$935,000$850,000

PURCHASE PRICE

$3,024$3,696$3,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,360
EXPENSES Loan Payment -$2,952
Property Tax -$720
Property Insurance -$71
HOA -$45
Property Management Fees -$165
CASH FLOW
-$593

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.

$850,000

PROJECTED PRICE

$3,360

PROJECTED RENT

0.40%

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

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$231,000

INVESTMENT

$231,000

Down Payment
$212,500
Rehab Estimate
$5,750
Closing Costs
$12,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,500
Loan Amount $637,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$13,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,360

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $3,379

    COMP ESTIMATED VALUE
  • $1.87

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3603$3,4004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 23502 Campestre Mission Viejo, CA 2
    • 3 beds 1 baths ∙ 1,812 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,812 Sqft ∙ Built 1975
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,360
    • $1.85
    •  
  • 23826 Lagarto Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.79
    •  
  • 23622 Lagarto Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.83
    •  
  • 27381 Via Amistoso Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1974
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.91
    •  
  • 23446 Bolivar Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.93
    •  
PROPERTY LISTING DETAILS
Christine Greubel
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21044980
Last Updated: 03/05/2021
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