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27132 Via Noveno Mission Viejo, CA 92691

4 Beds 2 Baths 1,513 sqft Built 1976

$889,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $587.57
  • 2 Days on Market
  • MLS # : OC21029001
  • Updated Date : 02/20/2021 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,513 sqft
  • Baths : 2 full
Listing Agent

Allure Properties

Listing Agent's Description

THIS HOME OFFERS RESORT STYLE LIVING IN Mission Viejo. LOCATED ON A LARGE CUL DE SAC LOT WITH GREAT CURB APPEAL, VERY PRIVATE BACK YARD WITH BEAUTIFUL LANDSCAPING AND POOL. THE INSIDE IS BEAUTIFUL WITH WOOD FLOORS THROUGHOUT, CROWN MOLDING AND WAINES COATING AND DECORATIVE PAINT THROUGHOUT. TWO MASTER BEDROOMS ONE DOWN AND TWO ADDITIONAL BEDROOMS UPSTAIRS. KITCHEN IS UPDATED AND VERY BRIGHT WITH VIEW OF BACKYARD. CEILING FANS ARE IN ALL THE FRESHLY PAINTED ROOMS THE OWNER HAS TAKEN VERY GOOD CARE OF THIS HOME AND HAS MUCH PRIDE IN ALL THE WORK HE HAS DONE OVER THE YEARS. THIS HOME IS A MUST SEE!

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MARKET HIGHLIGHTS

  • 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)
  • Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 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
Castille Elementary School Primary Regular 618 21 7
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Castille Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 21
7
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
 

$800,100$977,900$889,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$3,088
Property Tax -$753
Property Insurance -$64
HOA -$29
Property Management Fees -$162
CASH FLOW
-$795

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.

$889,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.37%

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

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$241,335

INVESTMENT

$241,335

Down Payment
$222,250
Rehab Estimate
$5,750
Closing Costs
$13,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,088

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $222,250
Loan Amount $666,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$6,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $2.18

    LIST RENT PER SQFT
  • $3,257

    COMP ESTIMATED VALUE
  • $2.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$3,2503$3,3004$3,3005$3,300
$3,300
RENT COMPS ANALYSIS
  • 27132 Via Noveno Mission Viejo, CA 5
    • 4 beds 2 baths ∙ 1,513 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,513 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.18
    •  
  • 23361 Via Linda Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,323 Sqft ∙ Built 1985
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $2.04
    •  
  • 26611 Via Del Sol Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1989
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.20
    •  
  • 23831 San Esteban Drive Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1971
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.11
    •  
  • 23386 Via Bahia Mission Viejo, CA 4
    • 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,463 Sqft ∙ Built 1973
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $2.26
    •  
PROPERTY LISTING DETAILS
Laura Simmons
Allure Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21029001
Last Updated: 02/20/2021
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