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18597 Hilldale Lane Lake Elsinore, CA 92530

3 Beds 3 Baths 2,749 sqft Built 2004

$445,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $161.88
  • 6 Days on Market
  • MLS # : DW20237173
  • Updated Date : 11/13/2020 at 16:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,749 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Allstars

Listing Agent's Description

Beautiful, well maintained home with over 2700 sq feet! This spacious home offers 3 bedrooms and a bonus room which can be used as an office or guest bedroom. Guest bathroom on main floor and 2 full bathrooms upstairs. High ceilings, dining room, a foyer, fireplace in living room and walk in pantry are a few of the features of this newer Lake Elsinore home. Pride of ownership is evident throughout this home.

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: 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
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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,642
Property Tax -$395
Property Insurance -$94
HOA -$60
Property Management Fees -$145
CASH FLOW
$125

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.

$445,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.55%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$46,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,529

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,4603$2,7004$2,800
$2,800
RENT COMPS ANALYSIS
  • 18597 Hilldale Lane Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.89
    •  
  • 32910 Sandal Wood Lane Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 29205 Lundin Links Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
  • 32875 Trailwood Court Wildomar, CA 4
    • 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 1991
    property image
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.96
    •  
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 #: DW20237173
Last Updated: 11/13/2020
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