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16087 Via Media Lake Elsinore, CA 92530

3 Beds 2 Baths 1,472 sqft Built 1986

INVESTimate

$373,888

List Price

$1,760

$1,584 - $1,936

Rent Est.

$415,876  ( +11.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $254.00
  • 6 Days on Market
  • MLS # : OC20169697
  • Updated Date : 08/22/2020 at 05:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Platinum Prop

Listing Agent's Description

Welcome to the beautiful Lake Elsinore Home. This home has an extraordinary floor plan of 3 bedrooms all rooms upstairs and 2 full bath including 1 half bathroom downstairs for your guest. MASTER bedroom and a spacious bathroom with dual sinks and two large closets and access to deck with a view of the mountains and the Ortega Hwy. The second and third room overlook the front of the home and share a full bath with dual sinks and a large closets in both rooms. Downstairs is the gorgeous dining area and direct access to the private enclosed back yard. Exquisite dark laminate flooring throughout, vinyl blinds and this is a premium location with lots of natural lighting and privacy with a spacious living room and fireplace. Kitchen with all appliances, tile countertops with view of the backyard. Two car garage with direct access to backyard. The home has potential space for an RV and Boat parking as well.This home is near by the 74 highway and right across the street from the Lake.

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: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $98k459k

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

Neighborhood: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9012078

* 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
 

$336,499$411,277$373,888

PURCHASE PRICE

$1,584$1,936$1,760

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

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,379
Property Tax -$330
Property Insurance -$63
Property Management Fees -$104
CASH FLOW
-$116

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.

$373,888

PROJECTED PRICE

$1,760

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.23%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,830

INVESTMENT

$104,830

Down Payment
$93,472
Rehab Estimate
$5,750
Closing Costs
$5,608

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,379

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,472
Loan Amount $280,416
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$17,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,759

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,7953$1,8004$2,0005$2,075
$2,075
RENT COMPS ANALYSIS
  • 16087 Via Media Lake Elsinore, 1
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.20
    •  
  • 33148 Gillette Lake Elsinore, 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
  • 1505 Morro Way Lake Elsinore, 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 15101 Lighthouse Lane Lake Elsinore, 4
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.23
    •  
  • 15710 Lake Ridge Road Lake Elsinore, 5
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.16
    •  
PROPERTY LISTING DETAILS
Rick Lopez
Coldwell Banker Platinum Prop
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20169697
Last Updated: 08/22/2020
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