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PROPERTY INFO
FACTS
- Single Family
- Built In 1972
- Price/Sqft : $573.34
- 2 Days on Market
- MLS # : OC21149330
- Updated Date : 07/12/2021 at 15:32
CONSTRUCTION
- Beds : 4
- Floor Size : 1,463 sqft
- Baths : 2 full
Listing Agent
Redfin
Listing Agent's Description
Absolutely charming two-story, four-bedroom updated Barcelona home. This home has a main floor bedroom and bath. As you enter the home you get a sense of an open feel, the spacious living room with bay window, wood-burning fireplace, cathedral ceiling continues with formal dining space that give it an open floorplan appeal. Both the bathrooms have been updated along with the kitchen. The newly painted white cabinets, new quartz counter gives you that modern feel. The kitchen includes stainless steel appliances and there is an informal dining area or breakfast room. On the main level, you have a neutral ceramic tile flooring throughout and transitions to a dark wood-like flooring at the foot of the stairs and continues up throughout the entire second floor. The two nice size secondary bedrooms are to your immediate left at the top of stairs at one end of the hallway and the primary suite on the other. The primary suite features a sizeable deck/balcony with views of the hills and trees and a very generous walk-in closet. The large backyard and patio space have so much potential. There is also direct access from the house to the nice oversized two-car garage and laundry space. The home has been newly repainted inside and out, there are new lighting fixtures both inside and out, new and updated interior door hardware, an automatic digital sprinkler system that can be monitored and control right from your phone. The HVAC system and ducting have all been replaced. You can become members of Mission Viejo Lake and enjoy all of the year-round amenities it has to offer. You're just minutes away in any direction to shopping, restaurants, and entertainment. Just a few doors down the street there is a pathway to the Trabuco and Aliso intersection where you can walk to the nearby shopping center.
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MARKET HIGHLIGHTS
- 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.
- 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]
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 | $3,140 |
| EXPENSES | Loan Payment | -$2,913 |
| Property Tax | -$723 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$154 | |
|
CASH FLOW
-$713
|
||
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.
$838,800
PROJECTED PRICE
$3,140
PROJECTED RENT
0.37%
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
$228,032
LOAN DETAILS
$2,913
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $209,700 |
| Loan Amount | $629,100 |
1.5
YEARS SAVED
$7,473
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,140
LIST RENT -
$2.15
LIST RENT PER SQFT
-
$3,098
COMP ESTIMATED VALUE -
$2.12
COMP AVG. RENT PER SQFT
Comps Range
-
26675 Avenida Shonto Mission Viejo, CA 3
- 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1972
![property image]()
- Rent
- Rent Per SQFT
- $3,140
- $2.15
-
23361 Via Linda Mission Viejo, CA 1
- 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985
![property image]()
LEASED 05/17/21- Rent
- Rent Per SQFT
- $2,800
- $2.12
-
26401 Alhondra Place Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1971
![property image]()
LEASED 03/18/21- Rent
- Rent Per SQFT
- $3,060
- $2.11
-
23831 San Esteban Drive Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $3,300
- $2.11
-
27462 Via Olmo Mission Viejo, CA 5
- 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1975
![property image]()
LEASED 01/13/21- Rent
- Rent Per SQFT
- $3,500
- $2.13
PROPERTY LISTING DETAILS
Redfin
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21149330
Last Updated: 07/12/2021
