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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $213.51
- 2 Days on Market
- MLS # : SW20240324
- Updated Date : 11/21/2020 at 13:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,014 sqft
- Baths : 2 full , 1 half
Listing Agent
Big Block Realty
Listing Agent's Description
POOL HOME with standout curb appeal showcases lush grass, mature tree and fresh mulch. Covered entry has a beautiful leaded glass door that takes you into a spacious formal living room. Tile flooring can be found throughout the entire main level and stunning plantation shutters throughout. Sitting at the back of the home is the kitchen and family room offering a perfect place to entertain. In the kitchen you will find black granite counters, stainless steel appliances, island with barstool seating, recessed lighting and large eating area. As the temperatures drop, the fireplace in the family room will be a big hit! Here you will also enjoy a built-in media niche/shelving plus a ceiling fan with light offering cool breezes on warmer days. Unwind in the master suite where highlights include ceiling fan with light, neutral carpet, 2 mirrored closets plus private bathroom with tile flooring & dual sinks. Two secondary bedrooms have laminate flooring and are a great size. Closet under the stairs offers lots of extra storage. Enjoy your slice of SoCal while relaxing in the beautifully landscaped backyard poolside where you will also enjoy a spa, solid Alumawood patio cover with fan, a grassy area and plenty of patio space. Other highlights include an updated Smart sprinkler system and orange/lemon trees. All this topped off with NEWER A/C UNIT & UPSTAIRS FURNACE plus an attached garage with Epoxy flooring. Close to shopping, dining, schools and city conveniences. NO HOA/LOW TAXES!
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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 | $2,150 |
| EXPENSES | Loan Payment | -$1,587 |
| Property Tax | -$384 | |
| Property Insurance | -$76 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$24
|
||
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.
$430,000
PROJECTED PRICE
$2,150
PROJECTED RENT
0.50%
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
$119,700
LOAN DETAILS
$1,587
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $107,500 |
| Loan Amount | $322,500 |
5.58
YEARS SAVED
$31,729
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,150
LIST RENT -
$1.07
LIST RENT PER SQFT
-
$2,148
COMP ESTIMATED VALUE -
$1.07
COMP AVG. RENT PER SQFT
Comps Range
-
22138 Country Hills Drive Wildomar, CA 3
- 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,014 Sqft ∙ Built 2002
![property image]()
- Rent
- Rent Per SQFT
- $2,150
- $1.07
-
33654 Cherry Street Wildomar, CA 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
-
29518 Mascot Lake Elsinore, CA 2
- 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013
![property image]()
LEASED 12/24/19- Rent
- Rent Per SQFT
- $2,100
- $1.09
-
35325 Billie Ann Road Wildomar, CA 4
- 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1990
![property image]()
LEASED 10/15/19- Rent
- Rent Per SQFT
- $2,195
- $0.98
PROPERTY LISTING DETAILS
Big Block Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20240324
Last Updated: 11/21/2020
