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27972 Festivo Mission Viejo, CA 92692

3 Beds 3 Baths 2,100 sqft Built 1979

$985,000

List Price

$3,670

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $469.05
  • 3 Days on Market
  • MLS # : PW21028052
  • Updated Date : 02/12/2021 at 11:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Red Carpet Coastal Properties

Listing Agent's Description

BEAUTIFUL RESORT STYLE POOL HOME LOCATED ON A LARGE 7700 SQ FT VIEW LOT. HIGHLY UPGRADED NEWER KIT CABINETS,GRANITE COUNTER TOPS. UPGRADED DUAL PANE WINDOWS. WOOD SHUTTERS THROUGHOUT. RECESSED LIGHTING ALL BATHROOMS ARE UPGRADED. FRESHLY PAINTED THROUGHOUT WOOD FLOORS. LARGE DINING ROOM WITH VAULTED CEILING MASTER BEDROOM IS LIGHT AND BRIGHT AND HAS A LARGE COVERED BALCONY OVERLOOKING THE BEAUTIFUL BACKYARD WITH A VIEW OF THE HILLS. VERY PRIVATE BACKYARD WITH A SPARKLING POOL AND SPA. BUILT IN BBQ IN GROUND FIRE PIT SOLAR IN AND PAID FOR. LARGE COVERED PATIO OFF OF THE FAMILY ROOM WITH CEILING FAN AND RECESSED LIGHTING. 2 FIREPLACES ONE IN THE FAMILY ROOM THE OTHER IN LIVING ROOM LIVING ROOM HAS VAULTED CEILINGS. THERE IS A DOG RUN ON THE SIDE OF THE HOME PROFESSIONALLY LANDSCAPED. THE HOME IS LIKE LIVING AT A RESORT. HOME IS A MUST SEE NO NEED TO PREVIEW.

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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

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Oso Valley Greenbelt

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q218002000220024002600280030003200340036003800Rent in $17153818

* 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
 

$886,500$1,083,500$985,000

PURCHASE PRICE

$3,303$4,037$3,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,670
EXPENSES Loan Payment -$3,421
Property Tax -$834
Property Insurance -$78
HOA -$75
Property Management Fees -$180
CASH FLOW
-$918

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.

$985,000

PROJECTED PRICE

$3,670

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$266,775

INVESTMENT

$266,775

Down Payment
$246,250
Rehab Estimate
$5,750
Closing Costs
$14,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,421

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $246,250
Loan Amount $738,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,670

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $3,696

    COMP ESTIMATED VALUE
  • $1.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6703$3,7504$3,8005$3,950
$3,950
RENT COMPS ANALYSIS
  • 27972 Festivo Mission Viejo, CA 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $3,670
    • $1.75
    •  
  • 28001 Festivo Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1980
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.72
    •  
  • 25086 Whitespring Mission Viejo, CA 3
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 1987
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.71
    •  
  • 28101 Amargon Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 1977
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.87
    •  
  • 27955 Nevado Mission Viejo, CA 5
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1979
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.74
    •  
PROPERTY LISTING DETAILS
Charles Klasmeier
Red Carpet Coastal Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21028052
Last Updated: 02/12/2021
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