Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
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
* 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 | $3,760 |
| 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
| 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
$254,585
LOAN DETAILS
$3,262
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $234,750 |
| Loan Amount | $704,250 |
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
-
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
Iml Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21025356
Last Updated: 02/10/2021
