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24644 Mosquero Lane Mission Viejo, CA 92691

3 Beds 2 Baths 1,508 sqft Built 1966

$849,900

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1966
  • Price/Sqft : $563.59
  • 4 Days on Market
  • MLS # : OC21048139
  • Updated Date : 03/18/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful remodel on huge lot with everything done from the floors to the roof! Custom front doors that lead to this open floor plan featuring living room with Brazilian cherry wood floors and family room with stacked stone fireplace. New kitchen with stainless appliances, custom counters and beautiful backsplash. Custom sink, faucets, gas stove, Viking trash compactor and dishwasher. Lots of cabinets and counterspace, recessed lights and ceiling fans throughout. French door leads to rear yard with huge lattice patio and numerous other patios to relax in. New pool, spa and equipment! Terraced yard features valley views and spacious dog run along with fenced area for pool equipment and sheds on the side yard. Elegant master suite with dressing area, full size closet and all new master bathroom with full body faucet and custom sink and vanity. Large secondary bedrooms and remodeled guest bathroom with custom sink, faucets, fixtures, tiled bathtub and shower. Enjoy front patio living in the best neighborhood you can imagine. This single story is down the street from International Baccalaureate High School and Blue Ribbon Elementary and Intermediate schools. Long driveway with 2 car garage, epoxy flooring, custom cabinets and new garage door and opener. Mission Viejo Lake Membership included and you can join the Mission Viejo Swim and Racquet Club. Newer roof and copper plumbing. Water softener, security cameras, Nest and Ring included. Low taxes, NO HOA.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$764,910$934,890$849,900

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$2,952
Property Tax -$732
Property Insurance -$64
HOA -$22
Property Management Fees -$163
CASH FLOW
-$613

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.

$849,900

PROJECTED PRICE

$3,320

PROJECTED RENT

0.39%

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

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$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $2.2

    LIST RENT PER SQFT
  • $3,129

    COMP ESTIMATED VALUE
  • $2.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,9953$3,3004$3,3205$3,500
$3,500
RENT COMPS ANALYSIS
  • 24644 Mosquero Lane Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1966
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $2.20
    •  
  • 24866 Leto Circle Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1974
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.96
    •  
  • 26661 Cortina Drive Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1970
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $2.10
    •  
  • 23831 San Esteban Drive Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.11
    •  
  • 27462 Via Olmo Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1975
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.13
    •  
PROPERTY LISTING DETAILS
Steven Hurd
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21048139
Last Updated: 03/18/2021
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