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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $523.81
- 3 Days on Market
- MLS # : PW21034888
- Updated Date : 02/20/2021 at 16:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,575 sqft
- Baths : 2 full
Listing Agent
Re/max College Park Realty
Listing Agent's Description
Built in 1976 and Fully Remodeled in 2015, this Single Level Home offers 1,554 sq ft of Interior Living Space with 3 Bedrooms and 2 Baths. Architectural Upgrades include Volume Ceilings, Faux Beams, Rounded Archways, and Display Nooks. Formal Entry Way Opens into the Spacious Formal Living room with Beautiful Archways, High Ceilings, and Floor to Ceiling Custom Stone Finished Fireplace. Formal Dining Room.Upgraded Kitchen Includes a Large Center Island and Breakfast Bar, Beautiful Granite Countertops with Custom Backsplash, Upgraded Cabinets, Recessed Lighting, and Stainless Steel Appliances. The Family Room is Open to the Kitchen and Offers Garden Views. The Bedrooms Include a Master Suite with Private Bath. Both Baths are Remodeled with Stone finished Showers and Upgraded Cabinetry with Granite Counter Tops. Large 7,000 Square Foot Lot: Plenty of Room for Entertaining, Relaxing, and Outdoor Dining. Additional Backyard Features include a Built-in Barbeque and Plumbed Sink, Covered Patio finished in Paver Stone, Storage Shed, Firepit, and Garden Areas. Attractively Landscaped and Ready to Enjoy.Volume Ceilings * Skylight * Upgraded Dual Pane Vinyl-frame Windows and Doors * Hardwood Style Flooring * Recessed Lighting * High-quality Raised Panel Interior Doors with Lever Handles * Upgraded Central Heating and Air Conditioning Systems * Tankless Water Heater * Tile Roof * Full Size Two Car Garage with Direct Access*Close to Parks, Bike Path, Schools, Dining, and Shopping.
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,330 |
| EXPENSES | Loan Payment | -$2,866 |
| Property Tax | -$709 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$163 | |
|
CASH FLOW
-$473
|
||
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.
$825,000
PROJECTED PRICE
$3,330
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$224,375
LOAN DETAILS
$2,866
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $206,250 |
| Loan Amount | $618,750 |
2.83
YEARS SAVED
$18,659
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,330
LIST RENT -
$2.11
LIST RENT PER SQFT
-
$3,339
COMP ESTIMATED VALUE -
$2.12
COMP AVG. RENT PER SQFT
Comps Range
-
23815 Helsinki Street Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $3,330
- $2.11
-
23991 Salero Lane Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968
LEASED 10/15/19- Rent
- Rent Per SQFT
- $3,300
- $2.15
-
23831 San Esteban Drive Mission Viejo, CA 2
- 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
-
26091 Avenida Bonachon Mission Viejo, CA 4
- 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1968
LEASED 03/15/20- Rent
- Rent Per SQFT
- $3,350
- $2.18
-
22932 Briarcroft Lake Forest, CA 5
- 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,717 Sqft ∙ Built 1980
LEASED 01/13/21- Rent
- Rent Per SQFT
- $3,500
- $2.04
PROPERTY LISTING DETAILS
Re/max College Park Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21034888
Last Updated: 02/20/2021
