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27871 Espinoza Mission Viejo, CA 92692

3 Beds 2 Baths 1,503 sqft Built 1977

$675,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $449.10
  • 4 Days on Market
  • MLS # : OC20233967
  • Updated Date : 11/06/2020 at 07:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,503 sqft
  • Baths : 2 full
Listing Agent

Re/max First Class

Listing Agent's Description

Immaculate home on a small cul-de-sac with private location. Absolutely model perfect home with remodeled kitchen with stainless steel appliances including a wine cooler. Large living room and dining area with vaulted ceilings and fireplace. Light and bright throughout. This is a Rosa floorplan with 3 bedrooms, 2 baths and 1503 square feet of beauty. Third bedroom is converted to a den. Newer windows and sliders throughout. Plantation shutters throughout. Two tone paint colors throughout. Large private patio with cover. A beautiful place to call home! Community is spread throughout 484 acres with mature trees & beautiful hills. Association offers two recreation center which offers pool, spa, club house, tennis, gym, paddle tennis, shuffleboard courts, billiards & much more. Trash pickup & outside painting are covered by the association. This is a 55+. There is also Lake MV membership which offers summer concerts, fishing, sail boating manicured beaches.

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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: Casta del Sol

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $239k787k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Casta del Sol

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21600180020002200240026002800300032003400Rent in $15053492

* 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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,490
Property Tax -$572
Property Insurance -$63
HOA -$394
Property Management Fees -$141
CASH FLOW
-$780

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$675,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.38%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.92

    LIST RENT PER SQFT
  • $2,871

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8503$2,8804$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 27871 Espinoza Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.92
    •  
  • 27726 Via Rodrigo Mission Viejo, CA 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1977
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.83
    •  
  • 24086 Calendula Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1976
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.94
    •  
  • 27932 Torroba Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1977
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.93
    •  
  • 27872 Calle Marin Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1972
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.94
    •  
PROPERTY LISTING DETAILS
Kelly Arshi
Re/max First Class
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20233967
Last Updated: 11/06/2020
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