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18565 Acacia Street Lake Elsinore, CA 92532

3 Beds 2 Baths 1,375 sqft Built 1990

$360,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $261.82
  • 7 Days on Market
  • MLS # : OC20228193
  • Updated Date : 11/01/2020 at 10:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,375 sqft
  • Baths : 2 full
Listing Agent

Realty Benefit

Listing Agent's Description

Single family home on large lot located on a quiet cul-de-sac. Very well maintained with low maintenance. 3 bedrooms and 2 baths. A great home in the most sought after school districts in Lake Elsinore. Nice private back yard with a large storage shed. RV access and long driveway for extra parking.

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: Elsinore Eucalyptus

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $91k459k

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

Neighborhood: Elsinore Eucalyptus

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000Rent in $8592078

* 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,328
Property Tax -$317
Property Insurance -$61
Property Management Fees -$106
CASH FLOW
-$22

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.

$360,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$24,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $1,760

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8003$1,9754$2,085
$2,085
RENT COMPS ANALYSIS
  • 18565 Acacia Street Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.30
    •  
  • 29177 Allan Street Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 1982
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.24
    •  
  • 16949 Pierrott Avenue Lake Elsinore, CA 3
    • 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
    •  
  • 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
Dianna Roberson
Realty Benefit
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20228193
Last Updated: 11/01/2020
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