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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $273.33
- 5 Days on Market
- MLS # : 20669036
- Updated Date : 12/10/2020 at 22:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,200 sqft
- Baths : 2 full
Listing Agent
Kw Vision
Listing Agent's Description
VIRTUAL TOUR! Beautiful remodeled home in great condition! Bright and spacious living room with a beautiful tile flooring, high vaulted ceilings, plantation shutters great for gatherings. The kitchen is remodeled with granite countertops, stainless appliances, tile floors and has lots of cabinets. The large dining area and hallway have tile floors as well. There is a good sized master bedroom and two ample sized bedrooms with laminate floors. The two bathrooms are remodeled with nice fixtures and tile floors. Master bathroom has a vanity with double sinks. Central AC and heating. Whole house exhaust fan. Pleasant back yard with potential for a private retreat and a covered patio great for entertaining. Big 2 car garage with laundry hookups inside. Roof and exterior in very good condition. Cute home with lots of character. The home is close to the lake, the 15 Freeway and Ortega Highway for easy access to Orange County.
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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: Country Club Heights Lakeland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Country Club Heights Lakeland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,500 |
| EXPENSES | Loan Payment | -$1,210 |
| Property Tax | -$291 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$156
|
||
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.
$328,000
PROJECTED PRICE
$1,500
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$92,670
LOAN DETAILS
$1,210
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $82,000 |
| Loan Amount | $246,000 |
3.42
YEARS SAVED
$11,295
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,500
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$1,564
COMP ESTIMATED VALUE -
$1.3
COMP AVG. RENT PER SQFT
Comps Range
-
17662 Hayes Avenue Lake Elsinore, CA 1
- 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $1,500
- $1.25
-
32984 Rose Avenue Lake Elsinore, CA 2
- 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 2007
![property image]()
LEASED 10/17/19- Rent
- Rent Per SQFT
- $1,650
- $1.39
-
17540 Bodkin Avenue Lake Elsinore, CA 3
- 3 beds 1 baths ∙ 1,348 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,348 Sqft ∙ Built 1986
![property image]()
LEASED 09/09/19- Rent
- Rent Per SQFT
- $1,745
- $1.29
-
33650 Naranjo Drive Lake Elsinore, CA 4
- 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005
![property image]()
LEASED 11/20/19- Rent
- Rent Per SQFT
- $1,800
- $1.23
PROPERTY LISTING DETAILS
Kw Vision
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 20669036
Last Updated: 12/10/2020
