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24571 Zena Court Mission Viejo, CA 92691

4 Beds 2 Baths 2,300 sqft Built 1976

$849,000

List Price

$3,790

$3.5K - $4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $369.13
  • 21 Days on Market
  • MLS # : OC21135165
  • Updated Date : 07/08/2021 at 11:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 2 full
Listing Agent

Lisa Kerr, Broker

Listing Agent's Description

Completely remodeled with an open concept floorplan this centrally located, turnkey home offers an ideal 4 bedroom layout! Upon entering you will love the wood-like tile floors that flow seamlessly throughout the living area and into the beautifully upgraded chef's kitchen customized with high-end appliances, soft close cabinets & drawers with extensive storage, task lighting, double sink and additional prep sink, pot filler, 6 burner gas range with hood, wine fridge, dishwasher drawers, and a huge center island with expansive quartzite counters; perfect for entertaining! Downstairs you will also find a large multi-purpose bedroom (perhaps an office or in-law suite) and an upgraded 3/4 bath complete with a shower! Continuing upstairs, in addition to the master bedroom, you will find 2 secondary & spacious bedrooms as well as a fully upgraded bath with new tile, new shower/tub combo and new fixtures. Relax & unwind in your large master suite complete with vaulted ceilings & a beautifully remodeled spa-like en suite including soaker tub, dual sinks and walk in shower with dual shower heads! This lovely home offers 2 low-maintenance outside courtyard areas, both fully enclosed & private. Off the kitchen/living area there is a wall of sliding glass doors with sliding plantation shutters allowing for lots of natural light and opening to a private outdoor living space perfect for grilling or dining al fresco! The front courtyard has new hardscape with drainage and complete with planters to grow your own flower or veggie & herb gardens. This home has been lovingly maintained and upgraded and all the major improvements done for you, including: Entire house was professionally re-piped for both water & gas, whole house water conditioner, HVAC moved to the attic, tankless H2O heater with "on-demand" hot water system, dual pane windows, plantation shutters throughout, recessed LED lighting and more! The HOA offers a pool, spa, bbq areas and clubhouse available for private parties/functions as well as a park all within walking distance. Conveniently located with easy access to freeways, toll road, shopping, restaurants, award wining schools and only a quick drive to OC's finest beaches, hiking & resorts. Hurry, this home is a must see and won't last long!

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
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
 

$764,100$933,900$849,000

PURCHASE PRICE

$3,411$4,169$3,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,790
EXPENSES Loan Payment -$2,949
Property Tax -$731
Property Insurance -$83
HOA -$371
Property Management Fees -$186
CASH FLOW
-$529

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.

$849,000

PROJECTED PRICE

$3,790

PROJECTED RENT

0.45%

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

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$230,735

INVESTMENT

$230,735

Down Payment
$212,250
Rehab Estimate
$5,750
Closing Costs
$12,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,949

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,250
Loan Amount $636,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$14,490

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,790

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $3,789

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,7903$3,8004$3,8005$3,990
$3,990
RENT COMPS ANALYSIS
  • 24571 Zena Court Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,790
    • $1.65
    •  
  • 24822 Leto Circle Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.51
    •  
  • 24931 Wells Fargo Drive Laguna Hills, CA 3
    • 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.80
    •  
  • 25231 Tasman Road Laguna Hills, CA 4
    • 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1965
    property image
    LEASED 05/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.55
    •  
  • 26551 Espalter Drive Mission Viejo, CA 5
    • 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1966
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.73
    •  
PROPERTY LISTING DETAILS
Lisa Kerr
Lisa Kerr, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21135165
Last Updated: 07/08/2021
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