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25842 Miramonte Drive Mission Viejo, CA 92692

4 Beds 3 Baths 1,862 sqft Built 1993

$869,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $466.70
  • 11 Days on Market
  • MLS # : OC20207000
  • Updated Date : 10/28/2020 at 17:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,862 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass

Listing Agent's Description

Welcome to 25842 Miramonte Drive! This wonderful home is situated on a quiet cul-de-sac street and centrally located in Mission Viejo! As you open the front door you notice the volume ceilings and great, open space of the living and dining room with abundance of natural lighting from the windows. In the rear is the spacious kitchen with an island overlooking the gorgeous, private backyard and inviting family room with a fireplace. Off to the side is the remodeled half bathroom and an entrance to attached two car garage. Inside the garage has the laundry area with abundance of built-in cabinetry. Home was recently painted with designer paint, new carpets, plantation shutters, central vacuum system, and many more! All four bedrooms are upstairs including master bedroom with volume ceilings, double door entry, walk-in closet, refreshing soaking tub with shower, large vanity mirror, double vanity and more. The upstairs bathroom has a tub/shower and crisp clean white tile floors matching the clean walls. Front and Backyard has mature landscape design that accentuates the home's architecture while the rear has a pergola to provide excellent shade and a central place to gather and entertain! It has excellent schools; Lake Mission privileges; close proximity to Freeways/Toll roads; and shopping center.

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: Califia

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900k950kPrice in $272k984k

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

Neighborhood: Califia

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
Bathgate Elementary School Primary Regular 708 23 7
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Bathgate Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 23
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
 

$782,100$955,900$869,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,206
Property Tax -$730
Property Insurance -$72
HOA -$127
Property Management Fees -$162
CASH FLOW
-$996

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.

$869,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 3.6%
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-$20k-$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$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $3,533

    COMP ESTIMATED VALUE
  • $1.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,3003$3,5004$3,5005$3,550
$3,550
RENT COMPS ANALYSIS
  • 25842 Miramonte Drive Mission Viejo, CA 2
    • 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,862 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.77
    •  
  • 34 Melrose Drive Mission Viejo, CA 1
    • 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.83
    •  
  • 26016 Ravenna Road Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 1,864 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,864 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.88
    •  
  • 27871 Vicenza Court Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,729 Sqft ∙ Built 1998
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $2.02
    •  
  • 25985 Ravenna Road Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1993
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.86
    •  
PROPERTY LISTING DETAILS
Adam Nguyen
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20207000
Last Updated: 10/28/2020
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