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PROPERTY INFO
FACTS
- Single Family
- Built In 1971
- Price/Sqft : $440.00
- 3 Days on Market
- MLS # : OC21046559
- Updated Date : 03/06/2021 at 13:14
CONSTRUCTION
- Beds : 4
- Floor Size : 2,500 sqft
- Baths : 1 full , 1 half
Listing Agent
Regency Real Estate Brokers
Listing Agent's Description
It Doesn’t Get Better Than This! Open Concept Home Totally Upgraded in Highly Desirable Mission Viejo! Enter thru double doors to rich travertine flooring & a Beautiful wood flr staircase w/Custom Rod Iron. Spacious living rm w/bar island & wine frig. Kitchen is a gourmet’s dream remodeled w/2 large islands, pendant lights, custom cabinets,Thermador “48”double oven/gas stove top,Meile dishwasher, stainless steel hood, designer granite counters w/matching bksplsh, tons of cabinets & huge pantry. Large dining rm w/upgraded lights adjoins family rm w/stone fireplace. Open double sliding glass drs to newly pebbled pool & spa w/Aqua Link phone activation, Baja step w/umbrella & 2 water features. 2 Cabanas – one w/custom wood ceiling,TV,wood burning fireplace, built in Fire Magic BBQ, & outdoor fridge. There’s more: retractable awning, RV parking w/built in cleanout & dog run. Upstairs master is dreamy w/gas rock fireplace & breathtaking balcony views. Master bathrm suite reconfigured w/2 closets w/organizers, dual shower w/dual controls, stand alone Victorian fiber glass tub,TV,dual vanity w/ lighted mirror. 4 rooms upstairs all w/rich hardwood floors. Bathrm upstairs reconfigured to enlarge space & completely remodeled. Crown molding, larger baseboards, designer paint, shutters or window coverings, ceiling fans & LED lights thru-out. Doors & windows upgraded, piping upgraded to copper. Home includes 3 car garage, access to MV Lake, close to schools, parks & shopping.
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MARKET HIGHLIGHTS
- 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)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mission Viejo
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,770 |
| EXPENSES | Loan Payment | -$3,821 |
| Property Tax | -$948 | |
| Property Insurance | -$87 | |
| HOA | -$21 | |
| Property Management Fees | -$185 | |
|
CASH FLOW
-$1,292
|
||
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
$3,770
PROJECTED RENT
0.34%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$297,250
LOAN DETAILS
$3,821
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $275,000 |
| Loan Amount | $825,000 |
0.42
YEARS SAVED
$1,405
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,770
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$3,794
COMP ESTIMATED VALUE -
$1.52
COMP AVG. RENT PER SQFT
Comps Range
-
26581 Tampico Place Place Mission Viejo, CA 3
- 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 1971
![property image]()
- Rent
- Rent Per SQFT
- $3,770
- $1.51
-
23896 Cypress Lane Mission Viejo, CA 1
- 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,188 Sqft ∙ Built 1977
![property image]()
LEASED 09/25/20- Rent
- Rent Per SQFT
- $3,200
- $1.46
-
26591 Avenida Deseo Mission Viejo, CA 2
- 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1969
![property image]()
LEASED 02/28/20- Rent
- Rent Per SQFT
- $3,350
- $1.46
-
26272 Tarrasa Ln. Mission Viejo, CA 4
- 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1968
![property image]()
LEASED 10/19/20- Rent
- Rent Per SQFT
- $4,000
- $1.57
-
25436 Adriana Street Mission Viejo, CA 5
- 4 beds 2 baths ∙ 2,842 Sqft ∙ Built 1967 4 beds 2 baths ∙ 2,842 Sqft ∙ Built 1967
![property image]()
LEASED 07/15/20- Rent
- Rent Per SQFT
- $4,500
- $1.58
PROPERTY LISTING DETAILS
Regency Real Estate Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21046559
Last Updated: 03/06/2021
