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27151 Lerma Mission Viejo, CA 92691

4 Beds 3 Baths 2,660 sqft Built 1976

$1,175,000

List Price

$4,290

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $441.73
  • 7 Days on Market
  • MLS # : OC21144247
  • Updated Date : 07/12/2021 at 21:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,660 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home to Mission Viejo! Beautiful curb appeal, a rare 3 car garage, and spacious driveway greet you as you approach this sun-soaked 4 bedroom, 2.5 bathroom home. Upon entering you are met with an open living room showcasing an expansive stone wall, high ceilings and a lovely bay window. Engineered hardwood flooring and plantation shutters flow throughout the home. Adjoined to the living room are the dining room and an incredible wine cellar nestled underneath the staircase offering space for 100+ wine bottles, a cooling unit, and a stone backdrop. Through the dining room is the kitchen presenting granite counters, a matching backsplash, a coffee bar, and stainless steel appliances. An ultimate entertainer’s dream, the family room is just a couple steps away with amazing interior/exterior living boasting a built-in entertainment center, a cozy fireplace, and a patio slider opening to the fully renovated backyard. Step outside and see well-landscaped, lush greenery, a covered patio, ceiling fan, recessed lighting, a drip system, river rocks, pavers, and a second side patio which can be accessed via the dining room. Adding to the interior, a wet bar, wine fridge, a laundry room, and a powder room are also featured in the family room. Equipped with storage cabinets, counters, and an additional sink, the oversized garage is perfect for storage and can be accessed via the laundry room. Moving upstairs, the second level leads you to the master suite, 2 guest bedrooms, a full bathroom, and a 3rd bedroom serving as a study. French doors open to the large master bedroom offering a warm fireplace, a luxurious spa-style en-suite, and his/her closet. The impressive en suite is complete with marble flooring, triple crown molding, a new jacuzzi tub, a walk-in shower, 2 gorgeous chandelier fixtures, a quartz counter, and dual vanity. Other features of the home include central a/c, wall a/c units, as well a washer/dryer and refrigerator included in the sale! Properly maintained, the HOA community includes a BBQ area, playground, and clubhouse - a perfect space to rent for any occasion. Only minutes away from Lake Mission Viejo, great shopping centers, entertainment, and the 5 FW!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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]

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
 

$1,057,500$1,292,500$1,175,000

PURCHASE PRICE

$3,861$4,719$4,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,290
EXPENSES Loan Payment -$4,081
Property Tax -$995
Property Insurance -$91
HOA -$21
Property Management Fees -$210
CASH FLOW
-$1,109

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.

$1,175,000

PROJECTED PRICE

$4,290

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$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k

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$317,125

INVESTMENT

$317,125

Down Payment
$293,750
Rehab Estimate
$5,750
Closing Costs
$17,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $293,750
Loan Amount $881,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$6,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,290

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $4,555

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$3,850
1$3,8502$4,2903$4,5004$4,5755$4,750
$4,750
RENT COMPS ANALYSIS
  • 27151 Lerma Mission Viejo, CA 2
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $4,290
    • $1.61
    •  
  • 27715 Killarney Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 2,409 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,409 Sqft ∙ Built 1994
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.60
    •  
  • 27546 Berdun Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 1978
    LEASED 07/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.77
    •  
  • 27492 Soncillo Mission Viejo, CA 4
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 1977
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,575
    • $1.76
    •  
  • 22511 Labrusca Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 1981
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,750
    • $1.72
    •  
PROPERTY LISTING DETAILS
Elizabeth Do
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21144247
Last Updated: 07/12/2021
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