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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $341.09
- 8 Days on Market
- MLS # : PW21010865
- Updated Date : 01/22/2021 at 22:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,105 sqft
- Baths : 3 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Love at first sight!! As soon as you walk in, prepare to be "wow-ed" this gorgeous AEGEAN HEIGHTS home has everything you are looking for. Downstairs bedroom and bathroom, perfect for multi family living, guest room or adult children. The opportunity to have a separate office or school room is ideal, as doors open to the private courtyard, perfect for natural light while working, or recess time for the kids. The WIDE OPEN floorplan is perfect for entertaining, with formal dining and living room combined. The gorgeous remodeled "eat in" kitchen allow a perfecgt space for at home learning/working. Every inch of the space will have you ready to move in. From the new flooring, to quartz countertops, beautiful lighting and gorgeous feature walls throughout. New window coverings, including shutters and custom coverings, all designed to match perfectly. HUGE master bedroom with oversized shower, barn door entry and vaulted ceilings. The additional bedrooms are very large, with plenty of closet space for everyone. Upstairs laundry and TONS of storage round out the quality details in this home. Community features like an olympic sized pool, tennis courts and nearby park/greenway, with great freeway access and nearby shopping, make this house a home.
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MARKET HIGHLIGHTS
- 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.
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,420 |
| EXPENSES | Loan Payment | -$2,494 |
| Property Tax | -$617 | |
| Property Insurance | -$78 | |
| HOA | -$371 | |
| Property Management Fees | -$168 | |
|
CASH FLOW
-$308
|
||
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.
$718,000
PROJECTED PRICE
$3,420
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,020
LOAN DETAILS
$2,494
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $179,500 |
| Loan Amount | $538,500 |
3.25
YEARS SAVED
$19,746
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,420
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$3,505
COMP ESTIMATED VALUE -
$1.67
COMP AVG. RENT PER SQFT
Comps Range
-
24785 Leto Circle Mission Viejo, CA 3
- 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,105 Sqft ∙ Built 1973
- Rent
- Rent Per SQFT
- $3,420
- $1.62
-
24436 Verena Court Mission Viejo, CA 1
- 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 1978
LEASED 03/31/20- Rent
- Rent Per SQFT
- $3,100
- $1.56
-
24822 Leto Circle Mission Viejo, CA 2
- 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975
LEASED 07/10/20- Rent
- Rent Per SQFT
- $3,250
- $1.51
-
26316 Turquesa Circle Mission Viejo, CA 4
- 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 1965
LEASED 03/25/20- Rent
- Rent Per SQFT
- $3,500
- $1.79
-
24931 Wells Fargo Drive Laguna Hills, CA 5
- 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969
LEASED 10/25/20- Rent
- Rent Per SQFT
- $3,800
- $1.80
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21010865
Last Updated: 01/22/2021
