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PROPERTY INFO
FACTS
- Built In 1976
- Price/Sqft : $485.06
- 9 Days on Market
- MLS # : OC20226074
- Updated Date : 10/30/2020 at 13:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,546 sqft
- Baths : 2 full
Listing Agent
Re/max Select One
Listing Agent's Description
Welcome to this "New Castille" home. Located in a quaint neighborhood adjacent to the Oso Creek trail, this single story home has a lovely and open view of the mature trees lined behind. The entry portico leads into an open living room with cozy fireplace and adjacent dining room, both with open views. There is a family room conveniently next to the kitchen. The kitchen light and bright with an open view to the back yard tree lined vistas. There are 2 secondary bedrooms with large windows facing the front yard and a master bedroom with French doors that open to the rear yard and view of mature trees. The yard offers lovely views of the tree lined trail and has plenty of space for entertaining. This home does need work and could be the perfect canvas for someone to redo. Conveniently located to shopping, restaurants, Mission Viejo Library and walking trails.
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MARKET HIGHLIGHTS
- 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)
- 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.
PRICE & RENT TRENDS
Neighborhood: Oso Valley Greenbelt
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Oso Valley Greenbelt
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,960 |
| EXPENSES | Loan Payment | -$2,767 |
| Property Tax | -$635 | |
| Property Insurance | -$64 | |
| HOA | -$36 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$687
|
||
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.
$749,900
PROJECTED PRICE
$2,960
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.08% |
| Appreciation Year (1-5) | 4.1% |
| 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
$204,474
LOAN DETAILS
$2,767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $187,475 |
| Loan Amount | $562,425 |
1.5
YEARS SAVED
$7,671
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,960
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$3,061
COMP ESTIMATED VALUE -
$1.98
COMP AVG. RENT PER SQFT
Comps Range
-
27721 Nopales Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $2,960
- $1.91
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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
-
27621 Ruisenor Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1977
LEASED 10/21/20- Rent
- Rent Per SQFT
- $2,950
- $2.01
-
28263 Leticia Mission Viejo, CA 5
- 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1979
LEASED 10/29/20- Rent
- Rent Per SQFT
- $3,200
- $2.01
PROPERTY LISTING DETAILS
Re/max Select One
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20226074
Last Updated: 10/30/2020
