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16503 Arnold Avenue Lake Elsinore, CA 92530

3 Beds 2 Baths 1,466 sqft Built 2007

$399,999

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $272.85
  • 7 Days on Market
  • MLS # : SW20227881
  • Updated Date : 10/29/2020 at 11:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,466 sqft
  • Baths : 2 full
Listing Agent

Executive Home Rentals & Sales

Listing Agent's Description

Welcome Home! This charming home features 1,466 square feet of living space featuring 3 bedrooms and 2 baths. Large open floor plan. New paint and carpet. Interior features a fireplace in the living room, ceiling fans, window coverings, walk in pantry, indoor laundry room, stainless steel appliances, mirrored wardrobes and so much more. Bring your bags! Move in ready,

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: Country Club Heights District

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $98k459k

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

Neighborhood: Country Club Heights District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000Rent in $8492078

* 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
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,476
Property Tax -$374
Property Insurance -$63
Property Management Fees -$109
CASH FLOW
-$172

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.

$399,999

PROJECTED PRICE

$1,850

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.6%
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$1.6M

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $1,891

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8503$1,8504$1,9755$2,000
$2,000
RENT COMPS ANALYSIS
  • 16503 Arnold Avenue Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.26
    •  
  • 3538 Pear Blossom Lane Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1987
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.30
    •  
  • 165 N Nebraska Street Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1990
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.22
    •  
  • 16949 Pierrott Avenue Lake Elsinore, CA 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2009
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.32
    •  
  • 16527 Badalona Street Lake Elsinore, CA 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
PROPERTY LISTING DETAILS
Cindy Tittle
Executive Home Rentals & Sales
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20227881
Last Updated: 10/29/2020
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