Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

26511 Fresno Drive Mission Viejo, CA 92691

3 Beds 2 Baths 1,464 sqft Built 1977

$839,995

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $573.77
  • 21 Days on Market
  • MLS # : OC21047364
  • Updated Date : 03/26/2021 at 12:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

Bullock Russell Re Services

Listing Agent's Description

Remodeled single level ranch style home on a large lot with oversized driveway. This updated, 3 bed/2 bath, Mission Viejo home boasts an open floor plan, with kitchen and dining rooms both opening onto living room with high ceilings. The open floor plan effortlessly flows into the outside spaces, the kitchen opens to a private wrap around front patio leading to the backyard, which also has access from the living room. In addition to ample outdoor space, the driveway is also substantial, fitting up to 5-6 cars in addition to the 2-car attached garage. Inside the home has been tastefully upgraded with wood-look tile throughout main living area, new carpet in bedrooms and fresh paint. Master bathroom has been completely remodeled and the kitchen has been remodeled with new cabinetry, granite countertops and boasts a large center island. Additionally all of the windows in the home have been replaced.

SEE MORE

MARKET HIGHLIGHTS

  • 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]
  • 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)

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
Los Alisos Intermediate School Middle Magnet 948 39 6
Trabuco Hills High School High Regular 2,960 112 9
Los Alisos Intermediate School Middle Unknown NA

Los Alisos Intermediate School

  • Education Level: Middle
  • # of students: 948
  • # of teachers: 39
6
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating

Los Alisos Intermediate School

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

$755,996$923,995$839,995

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$2,918
Property Tax -$724
Property Insurance -$62
Property Management Fees -$143
CASH FLOW
-$927

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.

$839,995

PROJECTED PRICE

$2,920

PROJECTED RENT

0.35%

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$228,349

INVESTMENT

$228,349

Down Payment
$209,999
Rehab Estimate
$5,750
Closing Costs
$12,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,918

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $209,999
Loan Amount $629,996
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,903

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.99

    LIST RENT PER SQFT
  • $3,056

    COMP ESTIMATED VALUE
  • $2.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9203$3,1004$3,1505$3,200
$3,200
RENT COMPS ANALYSIS
  • 26511 Fresno Drive Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.99
    •  
  • 26372 Waterford Circle Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,274 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,274 Sqft ∙ Built 1984
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $2.20
    •  
  • 21831 Shenandoah Drive Lake Forest, CA 3
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1980
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.07
    •  
  • 22276 Summit Hill Drive Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1986
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.94
    •  
  • 22552 Auburn Dale Drive Lake Forest, CA 5
    • 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,494 Sqft ∙ Built 1977
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.14
    •  
PROPERTY LISTING DETAILS
Alexander Arnoni
Bullock Russell Re Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21047364
Last Updated: 03/26/2021
BESbswy