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24781 Riendas Mission Viejo, CA 92692

3 Beds 2 Baths 1,546 sqft Built 1976

$798,800

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
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!

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Oso Valley Greenbelt

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $17153818

* 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
 

$718,920$878,680$798,800

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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$217,432

INVESTMENT

$217,432

Down Payment
$199,700
Rehab Estimate
$5,750
Closing Costs
$11,982

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,947

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $199,700
Loan Amount $599,100
See What Happens When You Reinvest Cash Flow

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
$2,850
1$2,8502$2,9503$3,0504$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 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
Robert Mackertichian
Keller Williams Realty Irvine
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20250924
Last Updated: 12/05/2020
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