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27302 Galvez Lane Mission Viejo, CA 92691

3 Beds 3 Baths 2,632 sqft Built 1972

$999,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $379.56
  • 16 Days on Market
  • MLS # : OC21004769
  • Updated Date : 01/23/2021 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,632 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome to this beautiful, fully remodeled "move in ready," two-story home located in a charming Mission Viejo neighborhood. Featuring 2,632 square feet of living space. This entire home has been extensively remodeled, and has updated fixtures. Also has the following: 3 car garage, solar which is owned and paid off, 1 Master bedroom with a large Master retreat with beautiful fireplace and french doors leading outside to a large deck with a balcony area, and 2 very large bedrooms, and a loft that can be converted into a 4th bedroom. Freshly painted walls, New HVAC system, New Tankless Water Heater, New Flooring, Re-Piped with Pex. Brand New "Tuff Shed," in backyard included! Perfectly located: one mile away from Mission Viejo mall, library, Saddleback College, 5 Freeway, post office, restaurants, entertainment center “Kaleidoscope” and Mission Viejo Hospital Inquire about the huge benefit of MULTIPLE SCHOOL OPTIONS unique to this neighborhood. Also the Sierra Recreation Center is just a short stroll away where you can purchase a day pass, monthly, seasonal or annual passes to the pool, spa, water slide, fitness center, tennis, classes, activities and more! Enjoy Lake Mission Viejo with swimming, BBQ's, fishing, boat & paddle board rentals, concerts & events. No Mello Roos! This home is truly "the one!" Don't miss out by waiting to see it!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$899,100$1,098,900$999,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$3,470
Property Tax -$844
Property Insurance -$91
HOA -$25
Property Management Fees -$196
CASH FLOW
-$626

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.

$999,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.40%

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-$10k$0.0$10k$20k$30k

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$270,485

INVESTMENT

$270,485

Down Payment
$249,750
Rehab Estimate
$5,750
Closing Costs
$14,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$3,470

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $249,750
Loan Amount $749,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$19,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,000

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $4,251

    COMP ESTIMATED VALUE
  • $1.62

    COMP AVG. RENT PER SQFT
Comps Range
$3,900
1$3,9002$3,9003$3,9004$4,0005$4,250
$4,250
RENT COMPS ANALYSIS
  • 27302 Galvez Lane Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,632 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.52
    •  
  • 26482 Maside Mission Viejo, CA 1
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1987
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.55
    •  
  • 26532 El Mar Drive Mission Viejo, CA 2
    • 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
    •  
  • 26446 Ambia Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1985
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.49
    •  
  • 27226 Galvez Lane Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1972
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.72
    •  
PROPERTY LISTING DETAILS
Jasmine Sayeed
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21004769
Last Updated: 01/23/2021
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