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28936 De La Luna Drive Mission Viejo, CA 92692

3 Beds 2 Baths 1,290 sqft Built 1970

$899,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $696.90
  • 6 Days on Market
  • MLS # : OC21053862
  • Updated Date : 03/16/2021 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Oc Coastal Realty

Listing Agent's Description

This stunning single story, fully remodeled Coronado residence is situated on a rare deep, flat lot in an amazing neighborhood. This South Mission Viejo home was painstakingly re-designed to optimize indoor outdoor living by indulging in a unique open floor plan with the best materials. The master suite is a private sanctuary with unobstructed views of the rolling hills. The elegant backyard is perfect for entertaining with an oversized patio, massive lawn with a lounge area fire-pit.  This home is perfect for enjoying the Southern California lifestyle. Low cost of ownership, no HOA or Mello Roos. Close to hiking and mountain biking trails, Arroyo Trabuco Golf Club, Saddleback College, Mission Viejo Mall and Mission Hospital all within minutes. We invite you to preview this property which can only be fully appreciated in person.

SEE MORE

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: Coronado

NeighborhoodNIR Market*CityMarket2010Year20002019250k300k350k400k450k500k550k600k650k700k750kPrice in $243k787k

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

Neighborhood: Coronado

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21600180020002200240026002800300032003400Rent in $15953492

* 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
Viejo Elementary School Primary Regular 397 15 4
Newhart Middle School Middle Regular 1,276 51 7
Capistrano Valley High School High Regular 2,384 86 9

Viejo Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 15
4
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
 

$809,100$988,900$899,000

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 -$3,123
Property Tax -$762
Property Insurance -$58
Property Management Fees -$140
CASH FLOW
-$1,233

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.

$899,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.24%
Appreciation Year (1-5) 4.5%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$243,985

INVESTMENT

$243,985

Down Payment
$224,750
Rehab Estimate
$5,750
Closing Costs
$13,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,123

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $224,750
Loan Amount $674,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$259

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
  • $2.21

    LIST RENT PER SQFT
  • $2,635

    COMP ESTIMATED VALUE
  • $2.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,6503$2,7254$2,8505$3,250
$3,250
RENT COMPS ANALYSIS
  • 28936 De La Luna Drive Mission Viejo, CA 4
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $2.21
    •  
  • 25881 Portofino Laguna Niguel, CA 1
    • 3 beds 2 baths ∙ 1,049 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,049 Sqft ∙ Built 1985
    property image
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $2.10
    •  
  • 29522 Westmont Court San Juan Capistrano, CA 2
    • 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,325 Sqft ∙ Built 1972
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $2.00
    •  
  • 27882 Aberdeen Mission Viejo, CA 3
    • 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,338 Sqft ∙ Built 1986
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $2.04
    •  
  • 25265 Via Acapulco Laguna Niguel, CA 5
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1990
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $2.03
    •  
PROPERTY LISTING DETAILS
Kirk Schilling
Keller Williams Oc Coastal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21053862
Last Updated: 03/16/2021
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