Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $263.51
- 28 Days on Market
- MLS # : SW20217784
- Updated Date : 11/14/2020 at 11:52
CONSTRUCTION
- Beds : 4
- Floor Size : 2,387 sqft
- Baths : 2 full , 1 half
Listing Agent
Better Homes And Gardens Real Estate Registry
Listing Agent's Description
Live in the highly desirable community of Brookstone Ranch. Absolutely Beautiful POOL home nestled up against the Cleveland National Forest with 4 bedrooms (all upstairs), 2.5 bathrooms with a 3 car garage all on over an acre of horse property. Views of the lake from the front yard and views of the hills and surrounding mountains from the back yard. Enjoy your own private pool and spa, built in BBQ area with island and bar countertop with seating. There are Large Mature trees all throughout the property-- Pine, Oak, Pepper, and beautiful Olive trees. At the back portion of the property is a built in horse barn with seperate tack and feed room. Enjoy all the riding trails from your own neighborhood. RV access and parking from the side gate. Pull your RV, horse trailer, or toys straight into the backyard. Home is super clean, highly upgraded, and well taken care of. Kitchen has white cabinetry and travertine stone countertops. Formal living/dining rooms with a spacious family room. Hardwood floors and tile flooring throughout the home. Master bedroom suite is luxurious with a fireplace and a large bath-separate shower and garden tub, dual vanities, and walk in closet. Sit, relax, and enjoy the gorgeous views from your huge balcony. Solar system to keep your electric bills low. The neighborhood is close to 15 and Ortega Highway-- easy OC, LA, or San Diego commute, if needed. Wonderful neighborhood with Super LOW taxes and low HOA. Come check it out before its gone....
SEE MORE
MARKET HIGHLIGHTS
- 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)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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)
- 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]
- 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, Inland Empire market inherits all the benefits from the area.
PRICE & RENT TRENDS
Neighborhood: Lake View
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake View
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,570 |
| EXPENSES | Loan Payment | -$2,321 |
| Property Tax | -$545 | |
| Property Insurance | -$85 | |
| HOA | -$30 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$562
|
||
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.
$629,000
PROJECTED PRICE
$2,570
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| 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
$172,435
LOAN DETAILS
$2,321
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $157,250 |
| Loan Amount | $471,750 |
1.58
YEARS SAVED
$6,890
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,166
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
14903 Toft Drive Lake Elsinore, CA 5
- 4 beds 3 baths ∙ 2,387 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,387 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $2,570
- $1.08
-
15148 Mahogany Way Lake Elsinore, CA 1
- 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1996
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,875
- $0.92
-
33125 Leeward Way Lake Elsinore, CA 2
- 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,419 Sqft ∙ Built 1990
LEASED 05/14/19- Rent
- Rent Per SQFT
- $2,250
- $0.93
-
32936 Serena Way Lake Elsinore, CA 3
- 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 2002
LEASED 11/24/19- Rent
- Rent Per SQFT
- $2,250
- $0.90
-
33440 Walham Place Lake Elsinore, CA 4
- 5 beds 3 baths ∙ 2,610 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,610 Sqft ∙ Built 2000
LEASED 11/01/19- Rent
- Rent Per SQFT
- $2,295
- $0.88
PROPERTY LISTING DETAILS
Better Homes And Gardens Real Estate Registry
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20217784
Last Updated: 11/14/2020
