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18585 Hilldale Lane Lake Elsinore, CA 92530

3 Beds 2 Baths 1,770 sqft Built 2004

$443,999

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $250.85
  • 8 Days on Market
  • MLS # : DW21015527
  • Updated Date : 01/26/2021 at 19:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

Gorgeous, hard to find, single story, 3 bedroom, 2 bathroom home. This family house has mountain views and sits on a quiet, picturesque street. You will love the open floor plan of the kitchen and family room. The fireplace offers warmth for the cozy evenings. Kitchen has an island, plenty of cabinet space keeping the counters clean. Large master bedroom with a walk in closet. The master bathroom has a soaker tub to add to its appeal. This house is over 1700 sq ft.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $98k459k

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

Neighborhood: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9012078

* 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
Canyon Lake Middle School Middle Regular 1,207 44 6
Lakeside High School High Regular 1,973 87 5

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
 

$399,599$488,399$443,999

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,542
Property Tax -$394
Property Insurance -$70
HOA -$60
Property Management Fees -$113
CASH FLOW
-$269

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.

$443,999

PROJECTED PRICE

$1,910

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.2%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,410

INVESTMENT

$123,410

Down Payment
$111,000
Rehab Estimate
$5,750
Closing Costs
$6,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,542

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,000
Loan Amount $332,999
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,115

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8753$1,9104$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 18585 Hilldale Lane Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.08
    •  
  • 33650 Naranjo Drive Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.23
    •  
  • 19440 Stonewood Lane Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.25
    •  
  • 18820 Oakview Way Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 2001
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 33255 Hollister Drive Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Lisa Encinias
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21015527
Last Updated: 01/26/2021
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