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26931 Recodo Lane Mission Viejo, CA 92691

4 Beds 3 Baths 2,230 sqft Built 1972

$1,100,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $493.27
  • 10 Days on Market
  • MLS # : OC21014526
  • Updated Date : 01/28/2021 at 17:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,230 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

GOT TOYS? This home can EASILY house them ALL! MASSIVE RV SPACE 19.5'W x 95'L (covered w/ clean out for RV and 50 amp plug-in) and still PLENTY of space for a POOL & spa. 9,248 sq ft FLAT LOT! Also...Every guy's DREAM GARAGE with diamond plated doors, heavy gauge lockable cabinets mounted off the ground, epoxy floors, LED lights and 220V for welder. As you enter this beautiful home, you’re instantly greeting with high vaulted ceilings, a soft neutral color pallet and an array of windows allowing in an abundance of natural light. Highlights include new luxury vinyl plank floors and carpet, wainscotting, custom wrought iron stair railings, plantation shutters, wood burning fireplace, updated light fixtures & interior laundry room. This home has the great room concept everyone is looking for with a large kitchen open to the family room, both of which lead to your expansive backyard setting. The kitchen showcases granite countertops, white cabinetry, stainless steel appliances including a 5 burner gas range and two convenient eat-in kitchen peninsulas. This home is meticulously maintained & has been RE-PIPED w/PEX. Inquire about the huge benefit of MULTIPLE SCHOOL OPTIONS unique to this neighborhood. Sierra Rec Center is just steps away with membership options to the pool, spa, water slide, fitness center, tennis, classes and more! Enjoy the OPTION to join Lake Mission Viejo with swimming, BBQ's, fishing, boat & paddleboard rentals, concerts & events. WELCOME HOME!

SEE MORE

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
Viejo Elementary School Primary Regular 397 15 4
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Viejo Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 15
4
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
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$3,821
Property Tax -$933
Property Insurance -$81
Property Management Fees -$178
CASH FLOW
-$1,382

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.

$1,100,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.33%

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,630

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $3,758

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$3,630
1$3,6302$3,7003$3,7004$3,8505$3,900
$3,900
RENT COMPS ANALYSIS
  • 26931 Recodo Lane Mission Viejo, CA 1
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $3,630
    • $1.63
    •  
  • 26695 Baronet Mission Viejo, CA 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1989
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.64
    •  
  • 26712 Baronet Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1988
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.76
    •  
  • 26631 Sotelo Mission Viejo, CA 4
    • 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
    •  
  • 26532 El Mar Drive Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1969
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.70
    •  
PROPERTY LISTING DETAILS
Amy Balsz
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014526
Last Updated: 01/28/2021
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