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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $516.69
- 3 Days on Market
- MLS # : OC20250924
- Updated Date : 12/05/2020 at 10:07
CONSTRUCTION
- Beds : 3
- Floor Size : 1,546 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty Irvine
Listing Agent's Description
Here's the inside scoop: The seller's love this home! They love the area! They love the neighborhood so much that they are planning on buying their next home in the same area! Over the last 13 years the sellers have made this house truly a home and now they want to give the opportunity for a new buyer to take over and make it their home. This turnkey, single level, light and bright home not only shows great, it's also been meticulously maintained and upgraded over the years and shows like a model home. Recent upgrades include: Full kitchen remodel (2017), owners bathroom remodel (2018), guest bathroom partial remodel (2018), upgraded HVAC and ductwork replacement (2012), upgraded water heater (2020), whole house Uponor PEX-a plumbing system repipe (2020), upgraded recessed lighting in living room (2020), newer carpet in both secondary bedrooms (2018), custom closet cabinets in owners suite (2016), custom cabinets in garage (2010/2016), garage floor epoxy coating (2020), and a 50 volt Tesla charger (2019). The best part is that there is still room for a new owner to make this home their own. The pictures look great but this home is a must see in person. This home is conveniently located near shopping, entertainment, award winning schools, local hiking trails & parks, and easy freeway access. Low HOA dues include Lake Mission Viejo privileges where you can watch concerts, enjoy fireworks on the 4th of July, lakefront restaurants, swimming, fishing, and more!
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MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Oso Valley Greenbelt
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oso Valley Greenbelt
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,050 |
| EXPENSES | Loan Payment | -$2,947 |
| Property Tax | -$676 | |
| Property Insurance | -$64 | |
| HOA | -$38 | |
| Property Management Fees | -$149 | |
|
CASH FLOW
-$825
|
||
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.
$798,800
PROJECTED PRICE
$3,050
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,432
LOAN DETAILS
$2,947
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $199,700 |
| Loan Amount | $599,100 |
1.17
YEARS SAVED
$5,018
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,050
LIST RENT -
$1.97
LIST RENT PER SQFT
-
$3,057
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
-
24781 Riendas Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $3,050
- $1.97
-
27715 Via Granados Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976
LEASED 06/20/20- Rent
- Rent Per SQFT
- $2,850
- $1.94
-
27621 Ruisenor Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977
LEASED 11/30/20- Rent
- Rent Per SQFT
- $2,950
- $2.01
-
28221 Leticia Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979
LEASED 12/01/20- Rent
- Rent Per SQFT
- $3,200
- $2.01
-
27751 Sinsonte Mission Viejo, CA 5
- 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1976
LEASED 11/30/20- Rent
- Rent Per SQFT
- $3,200
- $1.95
PROPERTY LISTING DETAILS
Keller Williams Realty Irvine
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20250924
Last Updated: 12/05/2020
