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21475 Terrazzo Lane Wildomar, CA 92595

6 Beds 3 Baths 2,816 sqft Built 2007

$528,444

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $187.66
  • 5 Days on Market
  • MLS # : 200050741
  • Updated Date : 11/05/2020 at 14:14
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,816 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

This Immaculate, 5-Bedroom + Office / 3-Bathroom home boasts 2,816 sq. ft. of living space and sits on a large, 8,712 sq ft corner lot in the highly sought-after neighborhood of Windstone Ranch. The home is beautifully finished with cathedral ceilings, crown molding, custom cabinetry, granite counters, stainless appliances, laundry room and more. Huge covered, custom, outdoor living space with fire pit. Gated concrete driveway for RV and/or boat storage with power. Owned Solar (30 panels), 3-car garage. Owned Solar - 30 panels. This home is move-in ready and turn-key with so many custom features and upgrades including, but not limited to, wood work, cabinetry, trim, window and door casings, crown moldings, wrought iron staircase railing, etc…The office can easily be converted to a 6th bedroom if desired. The home has owned solar (30 panels), A/C and has interior ceiling fans in addition to outdoor ceiling fans on the outdoor backyard patio. The outdoor living spaces are ideal for relaxing and entertaining – enjoy chatting with your neighbors from your covered front porch with custom misters or hang out with the family in your private, fully-fenced back yard on your huge covered custom patio with outdoor fire pit and ceiling fans. The back patio has enough space for both outdoor dining and living spaces. The property offers plenty of storage inside and out – tons of built-in cabinetry, a large laundry room, huge 3-car garage and the gated RV and/or boat storage in the back yard with 30 Amp Service. Patio has custom stamped concrete. Family Room has built-in surround sound system. Other house features include gutters, sewer connection for RV, dual-pane windows, concrete tile roof and more. Automatic Irrigation. Security / Alarm System and 7 wireless cameras included in sale. Great neighborhood close to schools, shopping and easy access to I-15 freeway. Equipment: Dryer, Washer Other Fees: 0 Sewer: Public Sewer Topography: LL,GSL

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MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Santa Rosa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Santa Rosa

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* 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
 

$475,600$581,288$528,444

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,950
Property Tax -$474
Property Insurance -$95
HOA -$70
Property Management Fees -$143
CASH FLOW
-$312

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.

$528,444

PROJECTED PRICE

$2,420

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$5.0k$0.0$5.0k$10k$15k

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$145,788

INVESTMENT

$145,788

Down Payment
$132,111
Rehab Estimate
$5,750
Closing Costs
$7,927

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,950

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,111
Loan Amount $396,333
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$13,776

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4203$3,000
$3,000
RENT COMPS ANALYSIS
  • 21475 Terrazzo Lane Wildomar, CA 2
    • 6 beds 3 baths ∙ 2,816 Sqft ∙ Built 2007 6 beds 3 baths ∙ 2,816 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.86
    •  
  • 22958 Teil Glen Road Wildomar, CA 1
    • 5 beds 4 baths ∙ 2,857 Sqft ∙ Built 2000 5 beds 4 baths ∙ 2,857 Sqft ∙ Built 2000
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 22873 Montanya Place Murrieta, CA 3
    • 5 beds 3 baths ∙ 3,020 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,020 Sqft ∙ Built 2005
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Peter Maw
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 200050741
Last Updated: 11/05/2020
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