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16626 Escavera Street Lake Elsinore, CA 92530

3 Beds 3 Baths 1,942 sqft Built 2006

$390,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $200.82
  • 2 Days on Market
  • MLS # : SW20262914
  • Updated Date : 12/26/2020 at 21:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,942 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Southwest

Listing Agent's Description

Welcome home to 16626 Escavera St. Located in the beautiful exclusive gated community of Viscaya. With an open floor plan, gorgeous laminate floors, and recessed lighting throughout, this home is perfect for entertaining. The kitchen has an oversized island, stainless steel appliances, and large pantry. Open concept dining room and living room with fireplace. The first level also features a bonus room that could easily be converted into a 4th bedroom or offers the perfect space for an office or playroom. Upstairs are two secondary bedrooms with walk-in closets and a bathroom with dual sinks and shower/tub combination. A spacious master bedroom which includes a massive walk-in closet, bathroom with dual sinks, shower and separate soaking tub. The laundry room is conveniently located upstairs, with built-in storage. The backyard features new concrete patio and low maintenance turf, which offers the perfect space to relax and enjoy the outdoors. Viscaya Community ownership includes access to the community pool, spa, outdoor cooking area, event center, and park. This home is a must see! Schedule your private showing today before it's too late, this one won't last!!

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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 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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,439
Property Tax -$367
Property Insurance -$74
HOA -$144
Property Management Fees -$119
CASH FLOW
-$123

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.

$390,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.52%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$17,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0204$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 16626 Escavera Street Lake Elsinore, CA 3
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.04
    •  
  • 15158 Versailles Street Lake Elsinore, CA 1
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1997
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
  • 16529 Sedona Street Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 33011 Seville Street Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.08
    •  
  • 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
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Taylor Guerra Santos
Realty One Group Southwest
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20262914
Last Updated: 12/26/2020
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