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26681 Sierra Vista Mission Viejo, CA 92692

4 Beds 2 Baths 2,845 sqft Built 1985

$954,000

List Price

$4,070

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $335.33
  • 3 Days on Market
  • MLS # : OC20230102
  • Updated Date : 11/01/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,845 sqft
  • Baths : 2 full
Listing Agent

Refined Realty

Listing Agent's Description

This 4 bedroom, 3 bath home is located in the highly desirable JM Peters neighborhood of Mission Viejo. The open floor plan consists of living room/formal dining room and huge bonus room with vaulted ceilings. This home features remodeled kitchen with stainless steel appliances, recessed lighting & updated bathrooms with quartz countertops. Upgrades include vinyl dual pane windows and whole house attic fan. Spacious master bedroom has sliding glass doors leading to outside deck, fireplace, dual vanity, walk-in shower, separate soaking tub and walk in closet. Downstairs bedroom can be used as an office. Private backyard features an above ground spa. No Mello/Roos. Low HOAs includes Lake Mission Viejo membership. Walking distance to Carl Hankey K-8, Cordova Park, Felipe Tennis Courts and Barbadanes Park.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Newhart Middle School Middle Regular 1,276 51 7
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

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
 

$858,600$1,049,400$954,000

PURCHASE PRICE

$3,663$4,477$4,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,070
EXPENSES Loan Payment -$3,520
Property Tax -$807
Property Insurance -$96
HOA -$67
Property Management Fees -$199
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.

$954,000

PROJECTED PRICE

$4,070

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$258,560

INVESTMENT

$258,560

Down Payment
$238,500
Rehab Estimate
$5,750
Closing Costs
$14,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,520

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $238,500
Loan Amount $715,500
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$23,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,070

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $4,203

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,0703$4,2004$4,2005$4,290
$4,290
RENT COMPS ANALYSIS
  • 26681 Sierra Vista Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 2,845 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,845 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $4,070
    • $1.43
    •  
  • 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
    •  
  • 27095 Pacific Terrace Drive Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 1990
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.42
    •  
  • 26322 Ibeza Road Mission Viejo, CA 4
    • 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
    •  
  • 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
Gary Rapp
Refined Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20230102
Last Updated: 11/01/2020
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