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26802 Carranza Drive Mission Viejo, CA 92691

4 Beds 3 Baths 2,478 sqft Built 1972

$939,000

List Price

$3,760

$3.5K - $4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $378.93
  • 9 Days on Market
  • MLS # : OC21025356
  • Updated Date : 02/10/2021 at 08:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Iml Real Estate

Listing Agent's Description

Rare and highly coveted Casa Sandia Floor Plan with 3-Car Garage (uncommon in most of MV) in a classic Mission Viejo neighborhood! Newer AIR CONDITIONING & FURNACE (2015), PEX RE-PIPE 2016, New Dual-Pane “Sound Package” WINDOWS throughout (2019), and exterior re-paint end of 2020. Soaring vaulted ceilings at living room and arched entry to dining room with gorgeous hardwood flooring throughout the main floor. The kitchen, with granite counter tops, recessed lighting, and stainless steel appliances opens to the large family room with fireplace. A remodeled powder room completes the first floor. Enjoy al-fresco dining in the expansive back yard with Aluma-Wood covered patio (no termites or dry rot!) that runs the length of the home. Huge master-suite upstairs with fireplace and two closets (one walk-in and one standard), 3 additional bedrooms (one super-sized!), and secondary bathroom complete the upstairs. Lake Mission Viejo membership, fantastic Saddleback Valley Unified Schools (walking distance to all three!), and No Mello-Roos tax. Your CALIFORNIA DREAM awaits. HURRY... This Home Will Not Last Long!

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
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8
La Paz Intermediate School Middle Unknown NA

La Paz Intermediate School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 31
8
GreatSchools Rating

Mission Viejo High School

  • Education Level: High
  • # of students: 2,438
  • # of teachers: 92
8
GreatSchools Rating

La Paz Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$845,100$1,032,900$939,000

PURCHASE PRICE

$3,384$4,136$3,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,760
EXPENSES Loan Payment -$3,262
Property Tax -$809
Property Insurance -$87
HOA -$21
Property Management Fees -$184
CASH FLOW
-$603

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.

$939,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 4.8%
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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$254,585

INVESTMENT

$254,585

Down Payment
$234,750
Rehab Estimate
$5,750
Closing Costs
$14,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,262

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $234,750
Loan Amount $704,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$17,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $3,760

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,3503$3,7604$3,8005$4,000
$4,000
RENT COMPS ANALYSIS
  • 26802 Carranza Drive Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $1.52
    •  
  • 24822 Leto Circle Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,150 Sqft ∙ Built 1975
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.51
    •  
  • 26591 Avenida Deseo Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1969 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1969
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.46
    •  
  • 24981 Via Marfil Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 1973
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.53
    •  
  • 26272 Tarrasa Ln. Mission Viejo, CA 5
    • 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,550 Sqft ∙ Built 1968
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.57
    •  
PROPERTY LISTING DETAILS
Dave Gubler
Iml Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21025356
Last Updated: 02/10/2021
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