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24872 Via Florecer Mission Viejo, CA 92692

4 Beds 3 Baths 2,230 sqft Built 1973

$995,000

List Price

$3,900

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $446.19
  • 10 Days on Market
  • MLS # : OC21010013
  • Updated Date : 01/23/2021 at 19:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,230 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ocdreamhomes

Listing Agent's Description

This 4 bedroom 2 1/4 bath home has been upgraded with over $300k in upgrades. Every detail has been thoughtfully considered. Begining with stamped concrete to the entry of the home. Then to the custom front doors that open to your very own spanish retreat. Craftmanship and attention to detail. Stunningly upgraded, Madrid home has Turkish giallo stone flooring, custom made baseboards and bull nosed corners, solid Knotty Alder interior doors, stacked stone accent walls and a stacked stone fireplace with raised hearth. The dream kitchen features top of the line stainless steel appliances, custom built cabinets with etched glass, 8' solid Alder doors, granite topped gourmet island and stone counters. Upstairs the flooring is a beautiful custom stained and distressed solid-wood Hickory flooring throughout. All bathrooms feature stone counters and unique hand-made Spanish tile. Double pained windows by Jeldwyn, custom beams accenting the dramatic cathedral ceilings of the living room, replaced 200 amp electrical panel, LED canned lights throughout. Plantation Shuttersin living and dining area. The sunrise views from the back yard and lovely trees view. A lovely place for entertaining with built in bbq and stamped concrete. Fruit trees and planters for those with a green thumb. Close to shopping and the lake.

SEE MORE

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

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
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
 

$895,500$1,094,500$995,000

PURCHASE PRICE

$3,510$4,290$3,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,900
EXPENSES Loan Payment -$3,456
Property Tax -$842
Property Insurance -$81
HOA -$21
Property Management Fees -$191
CASH FLOW
-$691

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.

$995,000

PROJECTED PRICE

$3,900

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$269,425

INVESTMENT

$269,425

Down Payment
$248,750
Rehab Estimate
$5,750
Closing Costs
$14,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,456

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $248,750
Loan Amount $746,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$16,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,900

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $3,886

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,8003$3,9004$4,0005$4,200
$4,200
RENT COMPS ANALYSIS
  • 24872 Via Florecer Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.75
    •  
  • 28001 Festivo Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.72
    •  
  • 15 Cantata Drive Mission Viejo, CA 2
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 1993
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.60
    •  
  • 23971 La Chiquita Drive Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.79
    •  
  • 25265 Fairgreen Mission Viejo, CA 5
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 1989
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.86
    •  
PROPERTY LISTING DETAILS
Mickey Link
Ocdreamhomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21010013
Last Updated: 01/23/2021
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