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26672 Sotelo Mission Viejo, CA 92692

4 Beds 2 Baths 2,847 sqft Built 1985

$975,000

List Price

$4,170

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $342.47
  • 4 Days on Market
  • MLS # : NP20242887
  • Updated Date : 11/19/2020 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,847 sqft
  • Baths : 2 full
Listing Agent

Seven Gables Real Estate

Listing Agent's Description

Welcome to the largest model in the desirable JM Peters neighborhood. As you arrive, you are welcomed by a well-groomed front yard, fresh exterior paint and a covered porch to greet guests. Opening the front door, you enter a freshly painted, light, bright and airy home featuring 4 bedrooms, 3 bathrooms and a large bonus room. The adjoining living room and dining room has an open concept feel and features large windows that pull in plenty of natural light. The spacious kitchen showcases solid surface countertops, seamless integrated sink, stainless steel appliances, ample storage and overlooks the family room with its cozy brick (gas) fireplace creating a perfect gathering place. A main level bedroom can also be converted into an office-ideal for family living or work from home opportunities. Upstairs are two additional bedrooms, a large bonus room and the master suite featuring a fireplace, double sink vanity, walk-in shower and soaking tub. The tranquil backyard creates the perfect place to relax or entertain guests with its pebbled paths, mature trees, fire pit and jacuzzi equipped with a new heater and filter. Within walking distance to Barbadanes and Cordova parks, MV Tennis courts, Carl Hankey Elementary and IB Middle School makes this home perfect for anyone to enjoy!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Carl Hankey Elementary School Primary Regular 397 13 6
Carl Hankey Elementary School Middle Regular 397 13 6
Capistrano Valley High School High Regular 2,384 86 9

Carl Hankey Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 13
6
GreatSchools Rating

Carl Hankey Elementary School

  • Education Level: Middle
  • # of students: 397
  • # of teachers: 13
6
GreatSchools Rating

Capistrano Valley High School

  • Education Level: High
  • # of students: 2,384
  • # of teachers: 86
9
GreatSchools Rating
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$3,753$4,587$4,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,170
EXPENSES Loan Payment -$3,597
Property Tax -$825
Property Insurance -$96
HOA -$67
Property Management Fees -$204
CASH FLOW
-$619

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.

$975,000

PROJECTED PRICE

$4,170

PROJECTED RENT

0.43%

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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$25,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,170

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $4,335

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,1703$4,2004$4,2505$4,290
$4,290
RENT COMPS ANALYSIS
  • 26672 Sotelo Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 2,847 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,847 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $4,170
    • $1.46
    •  
  • 27371 Viana Mission Viejo, CA 1
    • 4 beds 3 baths ∙ 2,773 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,773 Sqft ∙ Built 1983
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.42
    •  
  • 26322 Ibeza Road Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,866 Sqft ∙ Built 1993
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.47
    •  
  • 26252 Verona Place Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,653 Sqft ∙ Built 1993
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.60
    •  
  • 27285 Viana Mission Viejo, CA 5
    • 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,674 Sqft ∙ Built 1980
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,290
    • $1.60
    •  
PROPERTY LISTING DETAILS
Jeff Serafini
Seven Gables Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NP20242887
Last Updated: 11/19/2020
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