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24186 Zancon Mission Viejo, CA 92692

4 Beds 2 Baths 1,472 sqft Built 1979

$799,900

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $543.41
  • 4 Days on Market
  • MLS # : OC20255348
  • Updated Date : 12/11/2020 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Gorgeous remodeled single level home on a large double Cul-De-Sac location. Property features new remodeled bathrooms. Kitchen has quartz style counters, custom white cabinets, full tile back splash and farm style stainless steel sink. Newer gas stove, dishwasher and Microwave. Newer "Pure SPC flooring" that looks like wood but is waterproof protected. Plush carpet in bedrooms. Upgraded dual paned windows through out. Freshly painted through out. High vaulted ceilings in living room with cozy fireplace. 4th bedroom is being used as a master retreat at this time. Spacious backyard with patio and lush landscaping. Great for entertaining. Park is just around the corner plus hiking trails. Also close to shopping and schools. Member of Lake Mission Viejo.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Oso Valley Greenbelt

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Oso Valley Greenbelt

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $17153818

* 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
Philip Reilly Elementary School Primary Unknown 547 23 8
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Philip Reilly Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 23
8
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
 

$719,910$879,890$799,900

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,951
Property Tax -$677
Property Insurance -$63
HOA -$36
Property Management Fees -$159
CASH FLOW
-$646

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.

$799,900

PROJECTED PRICE

$3,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.1%
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$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$217,724

INVESTMENT

$217,724

Down Payment
$199,975
Rehab Estimate
$5,750
Closing Costs
$11,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,951

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,975
Loan Amount $599,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,021

    COMP ESTIMATED VALUE
  • $2.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,0953$3,2004$3,2005$3,240
$3,240
RENT COMPS ANALYSIS
  • 24186 Zancon Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $2.20
    •  
  • 28495 La Noche Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.97
    •  
  • 28531 Casanal Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1979
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,095
    • $2.06
    •  
  • 28263 Leticia Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.01
    •  
  • 24611 Tarazona Mission Viejo, CA 4
    • 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,472 Sqft ∙ Built 1978
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.17
    •  
PROPERTY LISTING DETAILS
Alicia Petrick
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20255348
Last Updated: 12/11/2020
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