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24321 Regina Street Mission Viejo, CA 92691

4 Beds 1 Baths 2,837 sqft Built 1969

$985,000

List Price

$4,150

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $347.20
  • 3 Days on Market
  • MLS # : OC20264821
  • Updated Date : 02/19/2021 at 20:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 1 full
Listing Agent

Davis & Associates Real Estate

Listing Agent's Description

HUGE SPLIT-LEVEL HOME WITH LARGE POOL BACKYARD - Lots of upgrades! 4-Bed/3-Bath – 2,837 SqFt home, 8,890 SqFt Lot. Elegant double-door entry with side light panels. High cathedral ceilings in the living room and entryway. Gorgeous wood/rod-iron modern stair bannister and stylish pendant and chandelier light fixtures. Open living room with fireplace and formal dining. The remodeled kitchen has granite counters, stainless-steel appliances, and a large eating area. The step-down family room has a fireplace with wood mantle. There are four large bedrooms including one downstairs. The master suite is huge with a cathedral ceiling and walk-in closet (closet organizers). The other two upstairs bedrooms have balcony access and great views of the park. There’s a downstairs bedroom perfect for guests or an office. All of the bathrooms have been remodeled. Additionally: large laundry room, dual pane windows/doors, NEW roof, NEW balcony decking, finished garage with flaked epoxy flooring, crown molding, recessed lighting, just painted inside/outside. You’ll love the tiered pool/spa backyard – perfect for entertaining. BIG BONUS – Cul-de-Sac location and a PARK just across the street with toddler playground, sand volleyball, and plenty of room to throw the ball and play soccer – it’s close enough that it almost feels like an extension of your own yard. Award winning schools within walking distance (elementary school just down the street). Freeway close. NO HOA dues. NO Mello-Roos Tax.

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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
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8
La Paz Intermediate School Middle Unknown NA

La Paz Intermediate School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 31
8
GreatSchools Rating

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating

La Paz Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,735$4,565$4,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,150
EXPENSES Loan Payment -$3,421
Property Tax -$847
Property Insurance -$96
Property Management Fees -$203
CASH FLOW
-$417

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.

$985,000

PROJECTED PRICE

$4,150

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$31,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,150

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $4,355

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$3,550
1$3,5502$4,1503$4,2004$4,3005$4,500
$4,500
RENT COMPS ANALYSIS
  • 24321 Regina Street Mission Viejo, CA 2
    • 4 beds 1 baths ∙ 2,837 Sqft ∙ Built 1969 4 beds 1 baths ∙ 2,837 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.46
    •  
  • 22802 Belquest Drive Lake Forest, CA 1
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1969
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.43
    •  
  • 24862 Stem Avenue Lake Forest, CA 3
    • 5 beds 2 baths ∙ 2,658 Sqft ∙ Built 1965 5 beds 2 baths ∙ 2,658 Sqft ∙ Built 1965
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.58
    •  
  • 25512 Alisal Avenue Laguna Hills, CA 4
    • 4 beds 2 baths ∙ 2,770 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,770 Sqft ∙ Built 1977
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.55
    •  
  • 25436 Adriana Street Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 2,842 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,842 Sqft ∙ Built 1967
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.58
    •  
PROPERTY LISTING DETAILS
Bill Davis
Davis & Associates Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20264821
Last Updated: 02/19/2021
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