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28232 Castlebrook #100 Mission Viejo, CA 92692

3 Beds 3 Baths 1,570 sqft Built 1986

$735,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $468.15
  • 9 Days on Market
  • MLS # : OC21010371
  • Updated Date : 01/23/2021 at 09:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate

Listing Agent's Description

This Beautifully upgraded home has everything you are looking for. Situated in the heart of Mission Viejo, this home has Lots of natural light, vaulted ceilings, new flooring, new energy efficient dual pane windows and new window coverings. This great floor plan offers a dining room area off the living room, and a separate area off the kitchen that can be used as a family room, eating area or home office. The living room has a cozy fireplace and views of the beautifully landscaped backyard. The remodeled kitchen has new cabinetry, custom granite counters, tile backsplash & stainless steel appliances. Direct access to the backyard from Family room and Living room, and direct access to the two car garage & laundry area. Remodeled bathrooms, new ceramic wood plank tiles, new PEX piping, new interior and exterior paint, new energy efficient “cool” roof, new garage door opener, and new heater and air-conditioner. Front yard has new pavers with a beautiful succulent garden. Spacious backyard is very private and professionally landscaped with new pavers, including a beautiful gazebo. Situated only a short distance to the beautiful Mission Viejo Lake with year round activities for the whole family, such as fishing, boating, summer concerts and 4th of July fireworks, Experience the Mission Viejo life style at its best.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $234k922k

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

Neighborhood: Eastbrook

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21400160018002000220024002600280030003200340036003800Rent in $12553818

* 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
Melinda Heights Elementary School Primary Regular 1,077 38 8
Melinda Heights Elementary School Middle Regular 1,077 38 8
Trabuco Hills High School High Regular 2,960 112 9

Melinda Heights Elementary School

  • Education Level: Primary
  • # of students: 1,077
  • # of teachers: 38
8
GreatSchools Rating

Melinda Heights Elementary School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 38
8
GreatSchools Rating

Trabuco Hills High School

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

$661,500$808,500$735,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,553
Property Tax -$632
Property Insurance -$65
HOA -$185
Property Management Fees -$147
CASH FLOW
-$592

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.

$735,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.1%
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

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$200,525

INVESTMENT

$200,525

Down Payment
$183,750
Rehab Estimate
$5,750
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,553

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $183,750
Loan Amount $551,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $3,203

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,0003$3,1004$3,2005$3,400
$3,400
RENT COMPS ANALYSIS
  • 28232 Castlebrook Mission Viejo, CA 1
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.90
    •  
  • 21771 Tegley Mission Viejo, CA 2
    • 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
    •  
  • 27937 Carrington Mission Viejo, CA 3
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1987
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $2.01
    •  
  • 21881 Bahamas Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1986
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $2.07
    •  
  • 28276 Coulter Mission Viejo, CA 5
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1987
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.94
    •  
PROPERTY LISTING DETAILS
Goly Kohanteb
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21010371
Last Updated: 01/23/2021
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