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17320 Ryan Avenue Lake Elsinore, CA 92530

3 Beds 2 Baths 1,462 sqft Built 1959

$390,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $266.76
  • 2 Days on Market
  • MLS # : PW21003082
  • Updated Date : 01/16/2021 at 18:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,462 sqft
  • Baths : 2 full
Listing Agent

North Seventeen Re

Listing Agent's Description

Finding a home in this market is no easy feat; finding an affordable and crisp one is nearly impossible. Enter 17320 Ryan Ave. This gem features a new roof, new plumbing, new windows and stucco, new insulation throughout, new drywall, carpets, flooring, and more. The home sits on a nice corner lot across from a beautiful lake. The sunset looks incredible! Close your eyes and picture your summers here. And if that's not enough, the price is the cherry on top. Better yet, come out and see for yourself.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Elsinore Elementary School Primary Regular 583 26 1
Elsinore Middle School Middle Magnet 790 33 3
Temescal Canyon High School High Regular 2,172 89 7

Elsinore Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 26
1
GreatSchools Rating

Elsinore Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 33
3
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,355
Property Tax -$365
Property Insurance -$63
Property Management Fees -$99
CASH FLOW
-$291

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

$1,590

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$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 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,832

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,8003$1,8004$2,085
$2,085
RENT COMPS ANALYSIS
  • 17320 Ryan Avenue Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.09
    •  
  • 1505 Morro Way Lake Elsinore, CA 2
    • 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
    •  
  • 805 W Pottery Street Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1968
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
  • 16835 Gunnerson Street Lake Elsinore, CA 4
    • 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1979
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $1.28
    •  
PROPERTY LISTING DETAILS
Ernie Aguilar
North Seventeen Re
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21003082
Last Updated: 01/16/2021
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