Bedrooms: 2
Bathrooms: 2
Size: 1,059 sq. ft
Laguna Niguel is a family friendly bedroom community in south Orange County. This particular property is located roughly 2 miles from the ocean. The city is well-manicured, and the good schools, public safety, and proximity to upscale ocean resorts such as the Ritz Carlton and the St. Regis indicate an affluent demographic in this area.
The La Vista complex at Laguna Niguel was one that was hit hard by the recession, primarily because these went on sale at the peak of the housing bubble and speculators bailed out when the market tanked. On the bright side, that has resulted in opportunities for current buyers. Photos and the calculated breakdown are as follows:
The ROI on the down payment of $42,000 is estimated at a shade less than 8%. But keep in mind that that figure does not take into account gains made on principle via monthly mortgage payments.
Listing price: $210,000
Down payment (20%): $42,000
Expected monthly rental income (based on Zillow.com rent estimate): $1,786
Monthly mortgage (30 year fixed @ 3.75%): $778
Monthly maintenance and repair budget: $100
Monthly vacancy budget: $100
Monthly HOA dues: $352
Monthly property tax: $183.75
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Monthly profit: $272.25
Monthly profit: $272.25
Annual return on down payment investment (not including mortgage principal gain) : 7.8%
