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26022 Andrea Court Mission Viejo, CA 92691

3 Beds 3 Baths 2,279 sqft Built 1973

$778,000

List Price

$3,620

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $341.38
  • 5 Days on Market
  • MLS # : OC21150485
  • Updated Date : 07/13/2021 at 12:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,279 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

UPDATED AEGEAN HILLS HOME NOW AVAILABLE IN MISSION VIEJO! This 3 bed, 2.5 bath floorplan offers nearly 2,300 sqft of interior living space with a private cul-de-sac location. Quality features include a beautifully updated kitchen with quartz countertops & breakfast bar, stainless steel appliances, updated cabinetry, and added recessed lighting. Also includes waterproof laminate flooring, dual-pane windows & sliders throughout, vaulted ceilings, updated furnace & A/C, and formal living, family & dining areas. Upstairs you will find a big master bedroom with en-suite bath & oversized walk-in closet, as well as a second guest room and guest bathroom. The third bedroom is a private second story room with over 500 sqft of open space and is currently used as a den/entertaining area. That room features a tall cathedral ceiling with lots of natural light, as well as a small outdoor sitting/storage area. Additional features include gated back patio with wood decking and stone flooring, direct-access 2-car garage, cozy gas/wood burning fireplace in living room, and full access to all of the community amenities including clubhouse, pool, spa and tennis courts. Low 1.03% tax rate, no Mello Roos and great school district!

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: 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
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8
La Paz Intermediate School Middle Unknown NA

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

La Paz Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$700,200$855,800$778,000

PURCHASE PRICE

$3,258$3,982$3,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,620
EXPENSES Loan Payment -$2,702
Property Tax -$686
Property Insurance -$82
HOA -$410
Property Management Fees -$177
CASH FLOW
-$438

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.

$778,000

PROJECTED PRICE

$3,620

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$211,920

INVESTMENT

$211,920

Down Payment
$194,500
Rehab Estimate
$5,750
Closing Costs
$11,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $194,500
Loan Amount $583,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$15,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,620

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $3,658

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,2503$3,6204$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 26022 Andrea Court Mission Viejo, CA 3
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1973 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,620
    • $1.59
    •  
  • 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
    •  
  • 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
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.51
    •  
  • 24931 Wells Fargo Drive Laguna Hills, CA 4
    • 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
    •  
  • 25231 Tasman Road Laguna Hills, CA 5
    • 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1965
    property image
    LEASED 05/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.55
    •  
PROPERTY LISTING DETAILS
Thomas Droesch
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21150485
Last Updated: 07/13/2021
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