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28202 Alava Mission Viejo, CA 92692

3 Beds 3 Baths 1,818 sqft Built 1983

$700,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $385.04
  • 5 Days on Market
  • MLS # : OC21022911
  • Updated Date : 02/05/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 3 full
Listing Agent

Re/max First Class

Listing Agent's Description

Beautiful remodeled home in the newest section of the community. This is the largest tract home in the community with 1818 square feet of luxury. This is Monterey with loft floorplan. The entry level offers huge master suite, second bedroom and bathroom, light and bright living room, family room and kitchen. Second level offers the third bedroom (currently set up as a loft) and full bath. Remodeled kitchen with newer cabinets, quartz countertop and newer appliances. Remodeled all three bathroom. Newer neutral color wood looking floors throughout. The home offers oversized two car garage and attic storage with a pulldown ladder. Newer heating and air conditioning system. Large covered private back patio. 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+

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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: 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
 

$630,000$770,000$700,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,431
Property Tax -$593
Property Insurance -$71
HOA -$444
Property Management Fees -$152
CASH FLOW
-$581

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.

$700,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.44%

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$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$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $1.71

    LIST RENT PER SQFT
  • $3,250

    COMP ESTIMATED VALUE
  • $1.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$3,1104$3,3505$3,600
$3,600
RENT COMPS ANALYSIS
  • 28202 Alava Mission Viejo, CA 3
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $1.71
    •  
  • 28253 Las Casas Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1983
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.67
    •  
  • 28344 Alava Mission Viejo, CA 2
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1984
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.70
    •  
  • 22476 Petra Mission Viejo, CA 4
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 1982
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.85
    •  
  • 23446 Bolivar Mission Viejo, CA 5
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1975
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.93
    •  
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 #: OC21022911
Last Updated: 02/05/2021
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