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211 Primrose Drive Lake Forest, CA 92610

3 Beds 3 Baths 1,852 sqft Built 2015

$808,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $436.29
  • 2 Days on Market
  • MLS # : CV20231018
  • Updated Date : 11/02/2020 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Masters Realty

Listing Agent's Description

Welcome to this exquisite home located in the desirable gated community of Camden Square. Upon walking into this model home, you are welcomed by the highly desirable open floor concept. The owner spared no expense when it came to upgrade this home from its base model. The spacious living room is adjacent to the large kitchen island and dining area which makes it perfect for entertaining. The kitchen offers top of the line appliances, canned recessed lighting and an upgraded kitchen backsplash. Within the dining area you will notice the beautiful hanging chandelier that screams luxury. Its complimented with custom built mirrors that creates a sense of openness. Walking upstairs you will find the functionality of this home is delivered without compromise. It features a master suite with a large bathroom, walk in closest and more of those custom-built mirrors. The master bathroom features a soaking tub, walk-in shower, dual vanity and roomy walk-in closet. The upstairs also offers two other nicely proportioned bedrooms, a second bathroom and a private laundry room. The charming outside patio offers a tranquil water fountain, gas fire pit, and artificial grass for low maintenance. Come and experience this remarkable home within walking distance to great restaurants, Lake Forest Sports Park, shopping, and enjoy the relaxing community pool (with its brand new high end furniture), playground, BBQ, outdoor fireplace and spa! Do not miss out on this great opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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]
  • 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)
  • 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)
  • 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, Orange County market inherits all the benefits from the area.

PRICE & RENT TRENDS

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019300k350k400k450k500k550k600k650k700k750k800k850k900kPrice in $272k922k

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

Neighborhood: Foothill Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q22000220024002600280030003200340036003800Rent in $19033818

* 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
Foothill Ranch Elementary School Primary Regular 1,100 38 8
Foothill Ranch Elementary School Middle Regular 1,100 38 8
Trabuco Hills High School High Regular 2,960 112 9

Foothill Ranch Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Foothill Ranch Elementary School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 38
8
GreatSchools Rating

Trabuco Hills High School

  • Education Level: High
  • # of students: 2,960
  • # of teachers: 112
9
GreatSchools Rating
 

$727,200$888,800$808,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,981
Property Tax -$705
Property Insurance -$72
HOA -$284
Property Management Fees -$160
CASH FLOW
-$941

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$808,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.08%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.81%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$219,870

INVESTMENT

$219,870

Down Payment
$202,000
Rehab Estimate
$5,750
Closing Costs
$12,120

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $202,000
Loan Amount $606,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $1.76

    LIST RENT PER SQFT
  • $3,528

    COMP ESTIMATED VALUE
  • $1.91

    COMP AVG. RENT PER SQFT
Comps Range
$3,050
1$3,0502$3,2603$3,4004$3,4505$3,700
$3,700
RENT COMPS ANALYSIS
  • 211 Primrose Drive Lake Forest, CA 2
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $1.76
    •  
  • 52 Parterre Avenue Lake Forest, CA 1
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 1996
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.81
    •  
  • 4 Balustrade Place Lake Forest, CA 3
    • 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,700 Sqft ∙ Built 1997
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $2.00
    •  
  • 105 Primrose Drive Lake Forest, CA 4
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2016
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.86
    •  
  • 143 Primrose Lake Forest, CA 5
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 2017
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.95
    •  
PROPERTY LISTING DETAILS
Joel Camacho
Re/max Masters Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231018
Last Updated: 11/02/2020
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