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15031 Amorose Street Lake Elsinore, CA 92530

3 Beds 2 Baths 1,871 sqft Built 2002

$430,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $229.82
  • 3 Days on Market
  • MLS # : OC21030270
  • Updated Date : 02/13/2021 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,871 sqft
  • Baths : 2 full
Listing Agent

Kahler Realty

Listing Agent's Description

This Northshore home has a beautiful view of the mountains. Walking distance to schools, parks & shops. Large kitchen w/island, eating area, double door entry to large master bedroom w/Roman tub & shower, walk in closet, dual sinks, large yard, two car garage. Family room with fireplace. The master bedroom with roman tub & Shower, Walk-in closet, Big backyard with patio with no neighboors in the back of the home. Great for your parties or entertainment your guest, and much more. PROFESSIONAL PICTURES COMING SOON

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 District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k459k

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

Neighborhood: Lake View District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000Rent in $10352083

* 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
Withrow Elementary School Primary Regular 768 30 3
Terra Cotta Middle School Middle Regular 1,126 43 3
Lakeside High School High Regular 1,973 87 5

Withrow Elementary School

  • Education Level: Primary
  • # of students: 768
  • # of teachers: 30
3
GreatSchools Rating

Terra Cotta Middle School

  • Education Level: Middle
  • # of students: 1,126
  • # of teachers: 43
3
GreatSchools Rating

Lakeside High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 87
5
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,494
Property Tax -$506
Property Insurance -$73
Property Management Fees -$117
CASH FLOW
-$209

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.

$430,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,016

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9803$2,1254$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 15031 Amorose Street Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.06
    •  
  • 15234 Washington Avenue Lake Elsinore, CA 1
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2003
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.01
    •  
  • 29448 Rock Point Drive Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 2006
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.06
    •  
  • 29272 Northpointe Street Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1992
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.15
    •  
  • 15154 Biarritz Street Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Kristi Murphy
Kahler Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21030270
Last Updated: 02/13/2021
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