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25962 Majorca Way Mission Viejo, CA 92692

5 Beds 3 Baths 2,526 sqft Built 1994

$1,100,000

List Price

$3,940

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $435.47
  • 8 Days on Market
  • MLS # : OC21139755
  • Updated Date : 07/10/2021 at 04:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,526 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Entertainer's Dream! Upgraded 5 bedroom home features dark hardwood floors and stained concrete floors, huge granite slab kitchen with sit down bar area, stainless steel appliances, custom basesboards, plantation shutters, and a tri-fold door that opens the home into the tropical oasis backyard. Backyard has stained concrete floors, custom pilars, built in BBQ and eating area, outdoor chiminea gas fireplace, large artificial grass pool-sized yard and has complete privacy with lush trees and backing to a greenbelt. Enjoy 5 full bedrooms (including one MAIN FLOOR BEDROOM!). Downstairs also has bathroom with shower. Master bedroom has vaulted ceilings, romantic balcony, walk in closet and huge master bathroom with dual sinks and separate tub and shower. Additional perks include Inside laundry with sink, garage upgraded with extra lighting and built-ins and workbench. Located at the end of the culdesac and walking distance to award winning Bathgate Elementary + enjoy Lake Mission Viejo privleges including boating, fishing, 2 beaches and tons of events and activities. Low tax, no mello roos and ideal location make this the perfect place to call home! Perfect to buy for yourself or INVESTORS WELCOME as seller would love to rent back if desired!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]

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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,546$4,334$3,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,940
EXPENSES Loan Payment -$3,821
Property Tax -$923
Property Insurance -$88
HOA -$131
Property Management Fees -$193
CASH FLOW
-$1,216

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.

$1,100,000

PROJECTED PRICE

$3,940

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$2,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,940

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $4,237

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,850
1$3,8502$3,9403$4,1504$4,2505$4,500
$4,500
RENT COMPS ANALYSIS
  • 25962 Majorca Way Mission Viejo, CA 2
    • 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,940
    • $1.56
    •  
  • 26631 Sotelo Mission Viejo, CA 1
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.64
    •  
  • 26586 San Torini Road Mission Viejo, CA 3
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1991
    LEASED 05/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.77
    •  
  • 26252 Verona Place Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1993
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.60
    •  
  • 26261 Verona Place Mission Viejo, CA 5
    • 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1994
    LEASED 05/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.70
    •  
PROPERTY LISTING DETAILS
Kathe Van Hoften
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21139755
Last Updated: 07/10/2021
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