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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $465.35
- 7 Days on Market
- MLS # : IV21006436
- Updated Date : 01/11/2021 at 19:22
CONSTRUCTION
- Beds : 4
- Floor Size : 1,977 sqft
- Baths : 3 full
Listing Agent
Briones Realty
Listing Agent's Description
SPECTACULAR MISSION VIEJO PROPERTY!!!! NO HOA, NO MELLOROOS!! DESIRABLE HOME LOCATED MISSION VIEJO WITH LAKE ACCESS FOR APPROX $230 A YEAR. THIS BEAUTIFUL STYLISH 2 STORY, 4 BEDROOM, 3 BATH REMODELED HOME HAS A GRAND ENTRANCE FEATURING AN OPEN FLOOR PLAN, UPGRADED KITCHEN W/GRANITE COUNTER TOPS, CUSTOM CABINETS, STAINLESS STEEL APPLIANCES, FAUCET AND SINK, WALK IN PANTRY AND BEAUTIFUL TUMBLED TRAVERTINE FLOORS, MASTER BEDROOM ON SUITE BATH UPSTAIRS, ALONG W/TWO OTHER BEDROOMS LOCATED UPSTAIRS, DOWNSTAIRS YOU'LL FIND THE 4TH BEDROOM THAT CAN BE USED AS AN OFFICE OR GYM. THIS HOMR OFFERS A BEAUTIFUL TROPICAL BACKYARD OASIS, W/MATURE PALM TREES AND RECENTLY UPGRADED PEBBLE TEC POOL W/ROCKS-CAPE ALL NEW, BOTH POOL & SPA CAN BE ACCESSED VIA WIRELESS REMOTE & PHONE ACCESS. BEAUTIFUL PERGOLA WITH AMAZING STAMPED CONCRETE FLOORS, FEATURING OUTDOOR BARBACUE AREA W/GRILL & KEGERATOR AND FIRE PIT FOR AWESOME OUTSIDE LIVING. THIS HOME ALSO FEATURES VERY SOUGHT AFTER AND RARE RV PARKING, GREAT FOR RV, JET SKIES, SEE-DOOS, QUADS AND OTHER ATV'S, PARKING FOR ALL YOUR TOYS. THIS HOME HAS ALL THE ITEMS ON YOUR CHECK LIST, AND IS AN EXCELLENT HOME TO LIVE IN ESPECIALLY WHILE QUARANTINE IS IN EFFECT. OWN YOUR VERY OWN PIECE OF PARADISE IN YOUR BACKYARD. LIVING SPACE 1977 SQ FT. ENJOY LAKE BOATING, FISHING, AND SWIMMING! ALSO NEARBY: VISTA DEL LAGO PARK, AURORA PARK, WALKING TRAILS, RESTAURANTS, SHOPPING, ATHLETIC FIELDS, AND CASTA DEL SOL GOLF COAST IN WALKING DISTANCE TO MISSION VIEJO LAKE.
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
* 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 | $3,770 |
| EXPENSES | Loan Payment | -$3,196 |
| Property Tax | -$779 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$185 | |
|
CASH FLOW
-$464
|
||
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.
$919,999
PROJECTED PRICE
$3,770
PROJECTED RENT
0.41%
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
$249,550
LOAN DETAILS
$3,196
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $230,000 |
| Loan Amount | $689,999 |
3.25
YEARS SAVED
$24,876
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,770
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$3,687
COMP ESTIMATED VALUE -
$1.87
COMP AVG. RENT PER SQFT
Comps Range
-
27182 Via Burgos Mission Viejo, CA 5
- 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 1973
- Rent
- Rent Per SQFT
- $3,770
- $1.91
-
23826 Lagarto Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1975
LEASED 05/18/20- Rent
- Rent Per SQFT
- $3,250
- $1.79
-
23622 Lagarto Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1975
LEASED 10/27/20- Rent
- Rent Per SQFT
- $3,400
- $1.83
-
27381 Via Amistoso Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1974
LEASED 11/15/20- Rent
- Rent Per SQFT
- $3,500
- $1.91
-
23446 Bolivar Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975
LEASED 08/14/20- Rent
- Rent Per SQFT
- $3,600
- $1.93
PROPERTY LISTING DETAILS
Briones Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21006436
Last Updated: 01/11/2021
