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28066 Kings Lynn Mission Viejo, CA 92692

4 Beds 2 Baths 1,320 sqft Built 1987

$739,900

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $560.53
  • 6 Days on Market
  • MLS # : OC21060458
  • Updated Date : 03/25/2021 at 22:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,320 sqft
  • Baths : 2 full
Listing Agent

Landmark Realtors

Listing Agent's Description

If you have been searching for a 4 bedroom home in Mission Viejo- walking distance to the Lake, shopping and schools all under $800k - you just found your home. Take a look at this adorable California Colony "Westminster Plan". As you drive up you can't help but notice the Prestine curb appeal of the yard and the Perfect Color choice for the Tudor Style Exterior paint. Let's step in...take note of the tile Flooring throughout the living area. Cathedral Ceilings, Cased trim on newer vinyl windows and sliders. The fireplace features stone surround and a separate formal dining area. The remodeled kitchen with deep tone cabinetry and granite counters is accented by Stainless appliances that will be inviting to cook and spend time in the eat-in kitchen area. A Bedroom and a beautifully remodeled Full bath finishes off the downstairs. Upstairs there are two additional bedrooms, plus a master suite with a 1/4 Bath Vanity and a remodeled Full Bath. Perfect! The Backyard is entered from the home by either of the newer Vinyl Sliders. You step out to the Covered patio and Yard area- grreat for al fresca dining Summer Nites. There is also access to the back garage door. Great yard for kids, pets, gardening, or just relaxing. Location, Location, Location - just a short walk to Lake Mission Viejo, Markets, shopping, Restaurants, Schools and bus stop... This could be your home.

SEE MORE

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: Palm Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $211k787k

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

Neighborhood: Palm Gardens

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21600180020002200240026002800300032003400Rent in $15883492

* 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
Rancho Santa Margarita Intermediate School Middle Regular 1,353 53 8
Trabuco Hills High School High Regular 2,960 112 9
Los Alisos Intermediate School Middle Unknown NA

Rancho Santa Margarita Intermediate School

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 53
8
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating

Los Alisos Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$665,910$813,890$739,900

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,570
Property Tax -$636
Property Insurance -$59
HOA -$70
Property Management Fees -$140
CASH FLOW
-$625

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.

$739,900

PROJECTED PRICE

$2,850

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 5.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,824

INVESTMENT

$201,824

Down Payment
$184,975
Rehab Estimate
$5,750
Closing Costs
$11,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $184,975
Loan Amount $554,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $2.16

    LIST RENT PER SQFT
  • $2,815

    COMP ESTIMATED VALUE
  • $2.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9503$3,0004$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 28066 Kings Lynn Mission Viejo, CA 1
    • 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,320 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.16
    •  
  • 21934 Mirador Mission Viejo, CA 2
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1981
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $2.14
    •  
  • 21771 Tegley Mission Viejo, CA 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1988
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $2.14
    •  
  • 27461 La Cabra Mission Viejo, CA 4
    • 4 beds 1 baths ∙ 1,500 Sqft ∙ Built 1976 4 beds 1 baths ∙ 1,500 Sqft ∙ Built 1976
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.13
    •  
  • 21052 Ponderosa Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1987
    LEASED 03/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.12
    •  
PROPERTY LISTING DETAILS
Patti Vanleeuwen
Landmark Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21060458
Last Updated: 03/25/2021
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