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17662 Hayes Avenue Lake Elsinore, CA 92530

3 Beds 2 Baths 1,200 sqft Built 1989

$328,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $82k459k

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

Neighborhood: Country Club Heights Lakeland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280090010001100120013001400150016001700180019002000Rent in $7332078

* 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
 

$295,200$360,800$328,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

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

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$92,670

INVESTMENT

$92,670

Down Payment
$82,000
Rehab Estimate
$5,750
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

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
$1,500
1$1,5002$1,6503$1,7454$1,800
$1,800
RENT COMPS ANALYSIS
  • 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
Charles Chamorro
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20669036
Last Updated: 12/10/2020
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