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22960 Quai Circle Wildomar, CA 92595

3 Beds 2 Baths 1,325 sqft Built 1987

INVESTimate

$385,000

List Price

$1,850

$1,665 - $2,035

Rent Est.

$405,829  ( +5.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $290.57
  • 13 Days on Market
  • MLS # : SW20165628
  • Updated Date : 08/24/2020 at 15:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Drive Real Estate

Listing Agent's Description

Bring your RV, bring your toys to Wildomar! Charming home on large lot is just waiting for you to put your stamp on it. Open floor plan and tall ceilings lend a gracious air to this cozy home, as does the brick fireplace. Hard floors throughout, fresh white cabinets, and lots of architectural features make this home unique. All three bedrooms have spacious walk-in closets. Property is nestled toward the back of a cul de sac and has an oversized side yard with plenty of room for an RV, a boat, or whatever your heart desires. The park-like backyard also comes with covered patio and plantings, citrus orchard, fire pit, and plenty of room, ready for you to relax. The front yard can be whatever you want it to be- Drought resistant? You got it! Lush grass? You got it! You’re only limited by your imagination!

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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: Windsong Valley

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Windsong Valley

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200Rent in $10822247

* 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
Donald Graham Elementary School Primary Regular 515 23 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Donald Graham Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 23
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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,420
Property Tax -$347
Property Insurance -$59
Property Management Fees -$109
CASH FLOW
-$86

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

$1,850

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.41%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8504$2,0255$2,100
$2,100
RENT COMPS ANALYSIS
  • 22960 Quai Circle Wildomar, 3
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.40
    •  
  • 33859 Canyon Ranch Road Wildomar, 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.33
    •  
  • 33697 Breckenridge Wildomar, 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 21788 Poinsettia Lane Wildomar, 4
    • 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $1.40
    •  
  • 21840 Carnation Lane Wildomar, 5
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 2001
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.46
    •  
PROPERTY LISTING DETAILS
Bethany Rogers
Drive Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20165628
Last Updated: 08/24/2020
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