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23851 Via Astorga Mission Viejo, CA 92691

3 Beds 2 Baths 1,326 sqft Built 1973

$760,000

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $573.15
  • 3 Days on Market
  • MLS # : OC20239099
  • Updated Date : 11/14/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full
Listing Agent

Residential Agent, Inc.

Listing Agent's Description

Single story on a large corner lot located in Central Mission Viejo with Lake Mission Viejo privileges. The house is positioned perfectly on the property to provide ample, usable space in the back and side yards where one can enjoy panoramic sunset views. This clean and bright home is the perfect blank slate. A great floorplan that is ready to be updated to your particular tastes. Enter through the double doors into the spacious living area with a vaulted ceiling and turn right into the kitchen and dining area flooded with natural light. All the bedrooms have generous-sized closets with sliding doors; the sliding closet doors in the master are mirrored. Create a private oasis in the backyard on the two cement patio areas under wooden pergolas. Both are accessible through sliding glass doors, one off the country kitchen and the other off the master bedroom. The two-car, direct access garage has washer/dryer hookups, built in storage and workbench. What a spectacular opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$684,000$836,000$760,000

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$2,804
Property Tax -$644
Property Insurance -$59
HOA -$21
Property Management Fees -$139
CASH FLOW
-$837

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.

$760,000

PROJECTED PRICE

$2,830

PROJECTED RENT

0.37%

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

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$207,150

INVESTMENT

$207,150

Down Payment
$190,000
Rehab Estimate
$5,750
Closing Costs
$11,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $190,000
Loan Amount $570,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$3,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $2,841

    COMP ESTIMATED VALUE
  • $2.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,7003$2,8304$2,9005$3,300
$3,300
RENT COMPS ANALYSIS
  • 23851 Via Astorga Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $2.13
    •  
  • 26322 Via Roble Mission Viejo, CA 1
    • 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 2
    • 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
    •  
  • 26101 Del Rey Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,365 Sqft ∙ Built 1985
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.12
    •  
  • 23386 Via Bahia 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 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.26
    •  
PROPERTY LISTING DETAILS
June Radke
Residential Agent, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20239099
Last Updated: 11/14/2020
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