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26685 Sotelo 
Mission Viejo, CA
92692
4 Beds 3 Baths 2,350 sqft
Built 1985
INVESTimate
$895,000
List Price
$242,925
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PROPERTY INFO
FACTS
- Built In 1985
- Price/Sqft : $380.85
- 3 Days on Market
- MLS # : OC20173303
- Updated Date : 08/25/2020 at 10:41
CONSTRUCTION
- Beds : 4
- Floor Size : 2,350 sqft
- Baths : 3 full
Listing Agent
Re/max Coastal Homes
Listing Agent's Description
Step inside, relax, and enjoy the California lifestyle in this freshly painted and repiped four bedroom, three bathroom JM Peters home. This open floor plan encompasses a spacious living room with a brick fireplace, dining room, and an additional family room near the kitchen. The gorgeous remodeled kitchen boasts new Pex piping, a JennAir professional style 6 burner range with convection oven, marbled quartz countertops, an island, Bosch dishwasher, and farmhouse style sink. An alluring view of the private backyard from the kitchen window illuminates the home with natural light as well as all-new LED recessed lighting. The lower level provides a bedroom, full bath, separate laundry room, and a two-car garage. Upstairs, the master suite possesses a large bathroom with travertine tiles, dual sinks, individual walk-in shower, a separate soaking tub, and a walk-in closet. Two additional bedrooms and a full bath complete the upstairs. The surrounding area includes Barbadanes Park and award-winning Carl Hankey Elementary. Easy access to freeways, grocery stores, and The Shops at Mission Viejo. Plus enjoy all the amenities that Lake Mission Viejo has to offer!
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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: 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
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,560 |
| EXPENSES | Loan Payment | -$3,302 |
| Property Tax | -$757 | |
| Property Insurance | -$84 | |
| HOA | -$67 | |
| Property Management Fees | -$174 | |
|
CASH FLOW
-$824
|
||
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.
$895,000
PROJECTED PRICE
$3,560
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.85% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.81% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$242,925
LOAN DETAILS
$3,302
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $223,750 |
| Loan Amount | $671,250 |
1.5
YEARS SAVED
$8,935
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,560
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$3,707
COMP ESTIMATED VALUE -
$1.58
COMP AVG. RENT PER SQFT
Comps Range
-
26685 Sotelo Mission Viejo, 1
- 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $3,560
- $1.51
-
26631 Sotelo Mission Viejo, 2
- 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 1985
LEASED 07/24/20- Rent
- Rent Per SQFT
- $3,850
- $1.64
-
26651 El Mar Drive Mission Viejo, 3
- 5 beds 3 baths ∙ 2,459 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,459 Sqft ∙ Built 1969
LEASED 02/01/20- Rent
- Rent Per SQFT
- $3,850
- $1.57
-
26482 Maside Mission Viejo, 4
- 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1987
LEASED 03/01/20- Rent
- Rent Per SQFT
- $3,900
- $1.55
-
26206 Buscador Mission Viejo, 5
- 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1980
LEASED 01/28/20- Rent
- Rent Per SQFT
- $3,900
- $1.55
PROPERTY LISTING DETAILS
Re/max Coastal Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20173303
Last Updated: 08/25/2020
