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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $303.15
- 3 Days on Market
- MLS # : SW20259950
- Updated Date : 12/18/2020 at 14:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,270 sqft
- Baths : 2 full
Listing Agent
Exit Alliance Realty
Listing Agent's Description
Don't miss out on this quaint single story home in the heart of Wildomar! This is a first time home buyers dream home with low taxes and no HOA! As you walk in the front door you will notice an open floor plan. This home offers three bedrooms and two full bathrooms! The backyard is an entertainers dream! This home sits on a big lot with a big alumawood cover and plenty of space to create your own backyard oasis Sitting in between Lake Elsinore and Murrieta you have multiple ways to access the freeway. Come check it out before it's too late!
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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: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,760 |
| EXPENSES | Loan Payment | -$1,420 |
| Property Tax | -$340 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$104 | |
|
CASH FLOW
-$162
|
||
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.
$385,000
PROJECTED PRICE
$1,760
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$107,775
LOAN DETAILS
$1,420
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
3.67
YEARS SAVED
$15,146
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,760
LIST RENT -
$1.39
LIST RENT PER SQFT
-
$1,772
COMP ESTIMATED VALUE -
$1.39
COMP AVG. RENT PER SQFT
Comps Range
-
21353 Maple Street Wildomar, CA 2
- 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,760
- $1.39
-
33859 Canyon Ranch Road Wildomar, CA 1
- 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,695
- $1.33
-
32455 Somerset Drive Lake Elsinore, CA 3
- 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1989
![property image]()
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,000
- $1.39
-
21788 Poinsettia Lane Wildomar, CA 4
- 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001
![property image]()
LEASED 07/26/20- Rent
- Rent Per SQFT
- $2,025
- $1.40
-
21840 Carnation Lane Wildomar, CA 5
- 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001
![property image]()
LEASED 03/02/20- Rent
- Rent Per SQFT
- $2,100
- $1.46
PROPERTY LISTING DETAILS
Exit Alliance Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20259950
Last Updated: 12/18/2020
