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PROPERTY INFO
FACTS
- Single Family
- Built In 1969
- Price/Sqft : $535.93
- 6 Days on Market
- MLS # : OC21006079
- Updated Date : 01/13/2021 at 11:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,670 sqft
- Baths : 2 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Surrounded by beautiful landscaping, including several fruit trees, come experience peace. Enrich this Single Level (3 bedroom, 2 bathroom) La Paz home with your personal style. A highly coveted Mission Viejo neighborhood. Beautiful wood flooring in the main living area is a great base for building a warm aesthetic. Gather around the rustic fireplace to create cozy memories. Relax in the pool or on the patio off the master bedroom for some extra downtime. Dual pane windows, plantation shutters and solar panels keep this house filled with the sunlight. Enjoy a spacious backyard and astroturf lawn for easy maintenance and a nice big patio - awesome for outdoor meals. Redesign your home life in 2021. This is a fantastic opportunity nestled in the heart of South Orange County, close to shopping, restaurants, parks and great schools.
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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
* 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 | $3,190 |
| EXPENSES | Loan Payment | -$3,109 |
| Property Tax | -$769 | |
| Property Insurance | -$67 | |
| HOA | -$22 | |
| Property Management Fees | -$156 | |
|
CASH FLOW
-$933
|
||
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.
$895,000
PROJECTED PRICE
$3,190
PROJECTED RENT
0.36%
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
$242,925
LOAN DETAILS
$3,109
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $223,750 |
| Loan Amount | $671,250 |
0.75
YEARS SAVED
$2,875
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,190
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$3,186
COMP ESTIMATED VALUE -
$1.91
COMP AVG. RENT PER SQFT
Comps Range
-
27301 Trigo Circle Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1969
- Rent
- Rent Per SQFT
- $3,190
- $1.91
-
27715 Via Granados Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976
LEASED 06/20/20- Rent
- Rent Per SQFT
- $2,850
- $1.94
-
27724 Calle Valdes Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1976
LEASED 05/29/20- Rent
- Rent Per SQFT
- $2,950
- $1.96
-
27311 Via Rioja Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1974
LEASED 08/18/20- Rent
- Rent Per SQFT
- $3,300
- $1.82
-
27381 Via Amistoso Mission Viejo, CA 5
- 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
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21006079
Last Updated: 01/13/2021
