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26881 Zapata Circle Mission Viejo, CA 92691

5 Beds 3 Baths 2,600 sqft Built 1972

$975,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $375.00
  • 5 Days on Market
  • MLS # : OC20228807
  • Updated Date : 11/06/2020 at 17:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,600 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

BEAUTIFUL POOL HOME LOCATED IN THE HEART OF MISSION VIEJO. Welcome to this magnificent 5 bedroom 3 bath home located in the highly desirable Madrid neighborhood. The inviting foyer greets you with soaring two-story high ceilings and an abundance of natural light from the open floor plan. Upon entering the spacious formal dining area you’ll be pleasantly greeted by the cozy brick fireplace. Loaded with charm, the gorgeous chef’s kitchen features updated counter tops, recessed lighting and stainless steel appliances. The kitchen flows seamlessly into the cozy living room that has sliding glass doors that lead to the very sizable sun room. Out back, you will find the large swimming pool and serene landscaped yard, perfect for entertaining. The main floor master suite features an updated bathroom and plenty of closet space. The main level also features 2 additional bedrooms with a beautifully updated bathroom. Upstairs you will find 2 more bedrooms with a large updated bathroom in the hallway. This is a great opportunity to live in the amazing city of Mission Viejo which offers award winning schools, hiking & biking trails, shops and restaurants. "SMART BUYER CERTIFIED HOME '' All inspections, disclosures, reports, clear title have been completed and a Home warranty in place!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Montevideo Elementary School Primary Regular 472 20 7
La Paz Intermediate School Middle Regular 862 31 8
Mission Viejo High School High Magnet 2,438 92 8

Montevideo Elementary School

  • Education Level: Primary
  • # of students: 472
  • # of teachers: 20
7
GreatSchools Rating

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
 

$877,500$1,072,500$975,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$3,597
Property Tax -$840
Property Insurance -$90
Property Management Fees -$186
CASH FLOW
-$913

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.

$975,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.39%

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$264,125

INVESTMENT

$264,125

Down Payment
$243,750
Rehab Estimate
$5,750
Closing Costs
$14,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,597

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $243,750
Loan Amount $731,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$9,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $3,764

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,4003$3,8004$4,0005$4,000
$4,000
RENT COMPS ANALYSIS
  • 26881 Zapata Circle Mission Viejo, CA 3
    • 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 1972 5 beds 3 baths ∙ 2,600 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.46
    •  
  • 26591 Avenida Deseo Mission Viejo, CA 1
    • 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
    •  
  • 24671 Via Alvorado Mission Viejo, CA 2
    • 4 beds 2 baths ∙ 2,478 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,478 Sqft ∙ Built 1973
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.37
    •  
  • 26561 Tampico Place Mission Viejo, CA 4
    • 6 beds 2 baths ∙ 2,882 Sqft ∙ Built 1972 6 beds 2 baths ∙ 2,882 Sqft ∙ Built 1972
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.39
    •  
  • 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
Zen Ziejewski
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20228807
Last Updated: 11/06/2020
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