Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

21154 Palomar Street Wildomar, CA 92595

3 Beds 3 Baths 1,895 sqft Built 1974

INVESTimate

$668,900

List Price

$2,350

$2,115 - $2,585

Rent Est.

$719,335  ( +7.54%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1974
  • Price/Sqft : $352.98
  • 11 Days on Market
  • MLS # : SW20166878
  • Updated Date : 08/20/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,895 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Assoc Brkr-sc

Listing Agent's Description

Load the HORSE TRAILER and MOVE RIGHT IN! *** 2.5 acres of Improved Horse Property with a TURNKEY POOL HOME in Wildomar*** Set back from the road, this PRIVATE AND QUIET 1895sf, 3 bedroom, single-story pool home has been well looked after inside and out. The kitchen offers granite countertops and looks over the pasture and mountains. Both the living room and dining room are inviting with brick fireplaces in each. Relax in your sparkling pool that has just been resurfaced or under the newly added pergola shade. SOLAR on the home is easily transferrable to the new owner. In addition to the two-car attached garage, there is a coveted HUGE WORKSHOP, storage space and loft in the separate detached garage. Plenty of room for your trailer, RV and toys on this FULLY FENCED and GATED property. The pasture is also fenced and will come with a converted container (not shown in some photos) and pipe panel in/out stalls that are fitted with automatic waterers and fans. There is additional shade for the animals and nearby tack shed for you! Palomar Street offers you COUNTRY LIVING with a TURNKEY HOME and HORSE PROPERTY. You have found a rare piece of paradise that is centrally located, right off a paved road and close to town! WELCOME 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: Wildomar

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Wildomar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10782398

* 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
Wildomar Elementary School Primary Regular 715 28 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Wildomar Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 28
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
 

$602,010$735,790$668,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$2,468
Property Tax -$589
Property Insurance -$73
Property Management Fees -$139
CASH FLOW
-$918

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.

$668,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.54%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$183,009

INVESTMENT

$183,009

Down Payment
$167,225
Rehab Estimate
$5,750
Closing Costs
$10,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $167,225
Loan Amount $501,675
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,3504$2,350
$2,350
RENT COMPS ANALYSIS
  • 21154 Palomar Street Wildomar, 4
    • 3 beds 3 baths ∙ 1,895 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,895 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.24
    •  
  • 33654 Cherry Street Wildomar, 1
    • 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,770 Sqft ∙ Built 1989
    property image
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.13
    •  
  • 35606 Aster Drive Wildomar, 2
    • 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 35614 Wanki Avenue Wildomar, 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
PROPERTY LISTING DETAILS
Rebecca Sims
Coldwell Banker Assoc Brkr-sc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20166878
Last Updated: 08/20/2020
BESbswy