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26231 Golada Mission Viejo, CA 92692

3 Beds 2 Baths 1,628 sqft Built 1983

$849,900

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $522.05
  • 3 Days on Market
  • MLS # : OC21034913
  • Updated Date : 02/27/2021 at 12:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,628 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Gorgeous single story and updated Mission Viejo home with PAID solar! The spacious floor plan is comprised of 3 bedrooms, including a master suite with access to the backyard and a family room adjoined by the kitchen. Many upgrades were added over the years including: new oven, microwave and dishwasher, granite counters, replaced skylights, plantation shutters, remodeled guest bathroom, installed water filter and water softener, new water heater, new A/C, epoxy flooring in garage, and recently painted interior and cabinets. This house also has a beautiful backyard with a fire pit and seating as well as a large artificial lawn with covered patio. The fence and side gate have been replaced and there’s also a slide-down projection screen to bring that family movie theater experience to your backyard! Prime location with easy access to highways, shops and restaurants. Walking distance to Barbadanes Park, Bathgate Elementary and minutes from Sierra Recreation Center and La Paws dog park.

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
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9
Capistrano Valley High School High Unknown NA

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

Capistrano Valley High School

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

$764,910$934,890$849,900

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,952
Property Tax -$719
Property Insurance -$66
HOA -$67
Property Management Fees -$154
CASH FLOW
-$808

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.

$849,900

PROJECTED PRICE

$3,150

PROJECTED RENT

0.37%

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-$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$230,974

INVESTMENT

$230,974

Down Payment
$212,475
Rehab Estimate
$5,750
Closing Costs
$12,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $1.93

    LIST RENT PER SQFT
  • $3,162

    COMP ESTIMATED VALUE
  • $1.94

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1503$3,2004$3,4005$3,500
$3,500
RENT COMPS ANALYSIS
  • 26231 Golada Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.93
    •  
  • 28 Brindisi Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1994
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.02
    •  
  • 27726 Rubidoux Mission Viejo, CA 3
    • 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,745 Sqft ∙ Built 1989
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.83
    •  
  • 26702 Ashford Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 1990
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.90
    •  
  • 27871 Vicenza Court Mission Viejo, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
John Jones
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21034913
Last Updated: 02/27/2021
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