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15630 Half Moon Drive Lake Elsinore, CA 92530

3 Beds 3 Baths 1,782 sqft Built 1987

$429,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $240.74
  • 5 Days on Market
  • MLS # : CV20262230
  • Updated Date : 12/24/2020 at 11:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,782 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hath Hm Svcs Ca Prop

Listing Agent's Description

Lake view, Mountain Views.... location location location! This lovely two story home boasts fully landscaped front yard with mature trees, 2 car garage. Double door entry with vaulted ceilings. Downstairs office with bathroom can be put back as 4th bedroom. Cozy fireplace in the family room. Built in shelving in dining room. Upstairs offers 2 additional bedrooms and wonderful master bedroom with sliding door to balcony to enjoy the views. Master bathroom with dual sinks and skylight. Home does need new flooring through out but has been painted.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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: Lake Edge District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Lake Edge District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112078

* 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
Lakeland Village School Primary Regular 912 44 2
Canyon Lake Middle School Middle Regular 1,207 44 6
Lakeside High School High Regular 1,973 87 5

Lakeland Village School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 44
2
GreatSchools Rating

Canyon Lake Middle School

  • Education Level: Middle
  • # of students: 1,207
  • # of teachers: 44
6
GreatSchools Rating

Lakeside High School

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

$386,100$471,900$429,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,583
Property Tax -$420
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$182

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.

$429,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$15k

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$15,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8453$2,0004$2,0105$2,075
$2,075
RENT COMPS ANALYSIS
  • 15630 Half Moon Drive Lake Elsinore, CA 4
    • 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,782 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $1.13
    •  
  • 1505 Morro Way Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 33378 Westlong Street Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2005
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.15
    •  
  • 15101 Lighthouse Lane Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.23
    •  
  • 15710 Lake Ridge Road Lake Elsinore, CA 5
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.16
    •  
PROPERTY LISTING DETAILS
Shannon Brady
Berkshire Hath Hm Svcs Ca Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20262230
Last Updated: 12/24/2020
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