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24891 Delos Avenue Mission Viejo, CA 92691

5 Beds 2 Baths 2,225 sqft Built 1968

$885,000

List Price

$3,410

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1968
  • Price/Sqft : $397.75
  • 8 Days on Market
  • MLS # : OC20225675
  • Updated Date : 10/29/2020 at 14:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,225 sqft
  • Baths : 2 full
Listing Agent

Surterre Properties Inc

Listing Agent's Description

RARE, SINGLE STORY WITH 5 BEDROOMS SET ON AN IMPRESSIVE, POOL-SIZED LOT! This light and bright former model home has an open floorplan perfect for formal & informal entertaining with a living room, formal dining room and a separate family room with wood flooring and crown molding. The beautifully remodeled kitchen boasts stainless steel appliances, recessed lighting, crisp white cabinetry and granite countertops and opens to a wall of windows streaming in natural light and showcasing the private backyard. The impressive backyard features a patio, large grassy area, basketball court and is surrounded by lush plants and mature landscaping offering privacy and space to entertain. Meticulously maintained with newer windows and slider, newer paint, newer HVAC and newer water heater. The master suite offers a walk-in closet, vanity area and master bathroom with double sinks that sit on a marble countertop. Large secondary bedrooms perfect for office, exercise room, kids rooms and/or multi-generational living. Large inside laundry room with utility sink and plenty of storage with direct access to a two car attached garage. Conveniently located with easy access to the 5 freeway, shopping, Irvine Spectrum Center, top rated schools and much 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: 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
Del Cerro Elementary School Primary Magnet 514 17 6
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8

Del Cerro Elementary School

  • Education Level: Primary
  • # of students: 514
  • # of teachers: 17
6
GreatSchools Rating

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
 

$796,500$973,500$885,000

PURCHASE PRICE

$3,069$3,751$3,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,410
EXPENSES Loan Payment -$3,265
Property Tax -$761
Property Insurance -$81
Property Management Fees -$167
CASH FLOW
-$864

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.

$885,000

PROJECTED PRICE

$3,410

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

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$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,265

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$7,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,410

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,738

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,4103$3,8004$3,9905$4,000
$4,000
RENT COMPS ANALYSIS
  • 24891 Delos Avenue Mission Viejo, CA 2
    • 5 beds 2 baths ∙ 2,225 Sqft ∙ Built 1968 5 beds 2 baths ∙ 2,225 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,410
    • $1.53
    •  
  • 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
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.56
    •  
  • 24931 Wells Fargo Drive Laguna Hills, CA 3
    • 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,107 Sqft ∙ Built 1969
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.80
    •  
  • 26551 Espalter Drive Mission Viejo, CA 4
    • 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,300 Sqft ∙ Built 1966
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.73
    •  
  • 25012 De Salle Street Laguna Hills, CA 5
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1965 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 1965
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.63
    •  
PROPERTY LISTING DETAILS
Angie Singh
Surterre Properties Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20225675
Last Updated: 10/29/2020
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