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24311 Via San Clemente Mission Viejo, CA 92692

4 Beds 3 Baths 2,230 sqft Built 1972

$1,129,900

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $506.68
  • 5 Days on Market
  • MLS # : OC21150149
  • Updated Date : 07/12/2021 at 14:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,230 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tourvia

Listing Agent's Description

Gorgeous turnkey home with timeless upgrades throughout. Never fear lockdown again when you can have a staycation in your majestic EXCEPTIONALLY PRIVATE backyard featuring an outdoor gas fire pit, built-in gas line for BBQ, and professional landscaping. No expense was spared with the installation of the ultra-quality pet-proof turf, easier to clean and cool down. Two VERY large side yards and plenty of room for RV, Boat or Toy parking. Sitting within Mission Viejo Lake access privileges enjoy incredible summer night concerts, kayaking, sandy beach, and firework shows to name a few benefits, a true delight seldom know about! Recently remodeled bathrooms, recessed lighting, dual-paned windows, custom stained glass, marble fireplace, PEX whole house repipe, smart garage door, and brand new low profile carpet in the family areas of the home. Enjoy everyone's favorite room with your own GOURMET KITCHEN with GRANITE countertops, STAINLESS STEEL appliances, counter-depth refrigerator, 36" 6-burner range, and built-in coffee station. All that and it just gets better with an indoor fire pole, yes you read that correctly a fire pole! Trust me it's something you have to see to believe, it's that AMAZING!

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
 

$1,016,910$1,242,890$1,129,900

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,925
Property Tax -$957
Property Insurance -$81
HOA -$21
Property Management Fees -$171
CASH FLOW
-$1,664

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.

$1,129,900

PROJECTED PRICE

$3,490

PROJECTED RENT

0.31%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$305,174

INVESTMENT

$305,174

Down Payment
$282,475
Rehab Estimate
$5,750
Closing Costs
$16,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,925

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $282,475
Loan Amount $847,425
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $3,797

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$3,490
1$3,4902$3,5003$3,9004$3,9505$4,100
$4,100
RENT COMPS ANALYSIS
  • 24311 Via San Clemente Mission Viejo, CA 1
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.57
    •  
  • 28001 Festivo Mission Viejo, CA 2
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.72
    •  
  • 28111 Somerset Mission Viejo, CA 3
    • 5 beds 3 baths ∙ 2,427 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,427 Sqft ∙ Built 1986
    property image
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.61
    •  
  • 27955 Nevado Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1979
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.74
    •  
  • 28035 Sheffield Mission Viejo, CA 5
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 1985
    property image
    LEASED 04/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.74
    •  
PROPERTY LISTING DETAILS
Chayan Alavi
Tourvia
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21150149
Last Updated: 07/12/2021
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