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26685 Sotelo Mission Viejo, CA 92692

4 Beds 3 Baths 2,350 sqft Built 1985

INVESTimate

$895,000

List Price

$3,560

$3,310 - $3,810

Rent Est.

$938,408  ( +4.85%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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!

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: 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
 

$805,500$984,500$895,000

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

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-$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$2.5M

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

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
$3,560
1$3,5602$3,8503$3,8504$3,9005$3,900
$3,900
RENT COMPS ANALYSIS
  • 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
Jimmy Reed
Re/max Coastal Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20173303
Last Updated: 08/25/2020
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