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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $478.24
- 3 Days on Market
- MLS # : OC20260244
- Updated Date : 12/19/2020 at 19:39
CONSTRUCTION
- Beds : 3
- Floor Size : 1,503 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
GORGEOUS REMODELED HOME JUST LISTED IN CASTA DEL SOL! This single-level Casa Rosa floorplan sits on a quiet cul-de-sac at one of the highest points in the community & features 3 bedrooms, 2 bathrooms & over 1,500 sqft of interior living space. Completely renovated throughout including stunning kitchen w/stainless steel appliances, quartz countertops, custom shaker cabinets w/soft close doors & drawers, stainless steel under-mount sink, added storage drawers for pots & pans, and a non-load bearing interior wall removed between kitchen & living room to make way for large center island. Both bathrooms have been tastefully updated - the guest w/quartz countertop vanity, marble tile flooring, and step-in shower w/frameless glass doors - and the master with large dual-sink quartz vanity, marble tile flooring, and shower-over-tub w/frameless glass shower doors & matching marble tile. Additional updates include dual-pane windows & sliders w/custom shutters, rich wide-plank laminate flooring in main living areas, scraped & textured ceilings, added recessed lighting in all rooms, floor-to-ceiling stacked stone gas/wood burning fireplace, all raised-panel interior doors w/decorative casing & updated hardware, updated 6" baseboards, added quartz counter at hall linen closet, and a fully finished garage w/epoxy flooring, textured ceiling & walls, updated drop-down ladder for access to huge attic storage area, and a large laundry area w/convenient wash basin. Low tax rate & no Mello Roos!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Casta del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Casta del Sol
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,870 |
| EXPENSES | Loan Payment | -$2,652 |
| Property Tax | -$609 | |
| Property Insurance | -$63 | |
| HOA | -$394 | |
| Property Management Fees | -$141 | |
|
CASH FLOW
-$989
|
||
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.
$718,800
PROJECTED PRICE
$2,870
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,232
LOAN DETAILS
$2,652
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $179,700 |
| Loan Amount | $539,100 |
0.25
YEARS SAVED
$347
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,870
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$2,867
COMP ESTIMATED VALUE -
$1.91
COMP AVG. RENT PER SQFT
Comps Range
-
28252 Yanez Mission Viejo, CA 4
- 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980
![property image]()
- Rent
- Rent Per SQFT
- $2,870
- $1.91
-
28286 Zurburan Mission Viejo, CA 1
- 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1980
![property image]()
LEASED 04/26/20- Rent
- Rent Per SQFT
- $2,800
- $1.86
-
28515 Barbosa Mission Viejo, CA 2
- 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984
![property image]()
LEASED 10/30/20- Rent
- Rent Per SQFT
- $2,800
- $1.86
-
28552 Pacheco Mission Viejo, CA 3
- 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 1984
![property image]()
LEASED 02/06/20- Rent
- Rent Per SQFT
- $2,850
- $1.91
-
23761 Calle Azorin Mission Viejo, CA 5
- 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1979
![property image]()
LEASED 10/26/20- Rent
- Rent Per SQFT
- $2,950
- $2.00
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC20260244
Last Updated: 12/19/2020
