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15104 Courtney Lane Lake Elsinore, CA 92530

3 Beds 2 Baths 2,052 sqft Built 2018

INVESTimate

$439,900

List Price

$2,200

$1,980 - $2,420

Rent Est.

$475,620  ( +8.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $214.38
  • 8 Days on Market
  • MLS # : IG20169995
  • Updated Date : 08/20/2020 at 19:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,052 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservices Ca Properties

Listing Agent's Description

Beautiful Single Story Tuscan Style Home. Built in 2018. Ready to Move In. NO HOA!!!! Large Backyard with Vegetable Garden and Alumawood Patio. Cement Slab Full Length of Home. Smart Home with Solar Panels. Blinds Throughout. Tankless Water Heater. Three Bedrooms and Optional Office or Den. Open Floorplan Concept with Inviting Kitchen and Dining Areas Perfect For Entertaining. Schools, Shopping and Outlets nearby. Short Distance to Casinos and Wineries. Courtney video tour https://dg_media.fromsmash.com/4jETIFXu.X-gt

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
Machado Elementary School Primary Regular 709 28 2
Terra Cotta Middle School Middle Regular 1,126 43 3
Lakeside High School High Regular 1,973 87 5

Machado Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 28
2
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
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,623
Property Tax -$400
Property Insurance -$77
Property Management Fees -$130
CASH FLOW
-$29

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.

$439,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.12%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$31,862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,2004$2,2005$2,295
$2,295
RENT COMPS ANALYSIS
  • 15104 Courtney Lane Lake Elsinore, 4
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.07
    •  
  • 15234 Washington Avenue Lake Elsinore, 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
    •  
  • 16529 Sedona Street Lake Elsinore, 2
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 30999 Verona Street Lake Elsinore, 3
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2007
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 33006 Seville Lake Elsinore, 5
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 2006
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sandra Nieto
Berkshire Hathaway Homeservices Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20169995
Last Updated: 08/20/2020
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