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26602 Domingo Drive Mission Viejo, CA 92692

3 Beds 3 Baths 2,089 sqft Built 1990

INVESTimate

$849,900

List Price

$3,440

$3,190 - $3,690

Rent Est.

$880,666  ( +3.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $406.85
  • 7 Days on Market
  • MLS # : OC20168412
  • Updated Date : 08/20/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,089 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

This wonderfully appointed home located in the highly desirable Bel Air tract of Califia is move-in ready. Vaulted ceilings, wood floors, plantation shutters, granite counters and like new PEX piping are just some of the many amenities. This 3 bedroom includes a master RETREAT (with window and closet) which can be easily converted to a 4th bedroom or used as a nursery, gym or work from home OFFICE. The master bedroom is spacious with views and dual walk-in closets leading to the large master bath with a soaking tub and walk-in shower. The yard is beautifully landscaped with an abundance of succulents which are both drought resistant and easy to maintain. The city light and mountain views are endless and serene. Low tax rate, No Mello Roos, low HOA fees and membership to Lake Mission Viejo make this home even more desirable.

SEE MORE

MARKET HIGHLIGHTS

  • 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 area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
  • As part of Southern California area, Orange County market inherits all the benefits from the area.
  • 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)

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
 

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

PURCHASE PRICE

$3,096$3,784$3,440

RENT

DOWN PAYMENT
FINANCING

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,440
EXPENSES Loan Payment -$3,136
Property Tax -$714
Property Insurance -$78
HOA -$128
Property Management Fees -$169
CASH FLOW
-$783

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

$3,440

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 3.62%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

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

$3,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $212,475
Loan Amount $637,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$8,189

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,440

    LIST RENT
  • $1.65

    LIST RENT PER SQFT
  • $3,489

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$3,300
1$3,3002$3,3503$3,4404$3,5005$3,700
$3,700
RENT COMPS ANALYSIS
  • 26602 Domingo Drive Mission Viejo, 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,440
    • $1.65
    •  
  • 26726 Baronet Mission Viejo, 1
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1982
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.62
    •  
  • 26786 Baronet Mission Viejo, 2
    • 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,041 Sqft ∙ Built 1988
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.64
    •  
  • 26591 Somerly Mission Viejo, 4
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1991
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.66
    •  
  • 26712 Baronet Mission Viejo, 5
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1988
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.76
    •  
PROPERTY LISTING DETAILS
Bryan Deyo
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20168412
Last Updated: 08/20/2020
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