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18945 Applewood Way Lake Elsinore, CA 92530

4 Beds 2 Baths 1,708 sqft Built 2000

$395,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $231.26
  • 3 Days on Market
  • MLS # : SW20247183
  • Updated Date : 11/27/2020 at 07:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,708 sqft
  • Baths : 2 full
Listing Agent

Realty Sky

Listing Agent's Description

Welcome to this beautiful 3 bedroom, and extra bonus room you may use as a 4th bedroom or a home office, 2 full bath home. The kitchen features granite counters and stainless steel appliances, that opens up to the dining room and family room. Living room offers fireplace perfect to keep warm this winter. The entire house has been freshly painted for you. 1,704 Sq-Ft of home for all your needs with a 3-Car garage. NO HOA and Very low taxes. This is a highly desirable community, this home wont last. So what are you waiting for, come and see this home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: East Lake District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: East Lake District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112115

* 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
William Collier Elementary School Primary Regular 612 26 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

William Collier Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 26
4
GreatSchools Rating

David A. Brown Middle School

  • Education Level: Middle
  • # of students: 1,010
  • # of teachers: 41
4
GreatSchools Rating

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,457
Property Tax -$350
Property Insurance -$69
Property Management Fees -$134
CASH FLOW
$260

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.

$395,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
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$0.0$5.0k$10k$15k$20k$25k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$60,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0003$2,2004$2,2705$2,300
$2,300
RENT COMPS ANALYSIS
  • 18945 Applewood Way Lake Elsinore, CA 4
    • 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,708 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.33
    •  
  • 19440 Stonewood Lane Lake Elsinore, CA 1
    • 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
    •  
  • 32455 Somerset Drive Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1989
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.39
    •  
  • 19405 Oakview Lane Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.47
    •  
  • 18820 Oakview Way Lake Elsinore, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
La Nina Welker
Realty Sky
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20247183
Last Updated: 11/27/2020
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