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22991 Greyhawk Road Wildomar, CA 92595

5 Beds 3 Baths 2,733 sqft Built 2012

$584,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $214.01
  • 13 Days on Market
  • MLS # : SW21026747
  • Updated Date : 02/18/2021 at 13:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,733 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Assoc.brkr-mur

Listing Agent's Description

WOW... what a SoCal dream of a backyard!! Located in West Wildomar this stunning POOL/SPA home sits on the LARGEST lot in the development 14,000+ sqft ALL FLAT ALL USABLE!! Wonderful curb appeal with river rock, custom walkway and drought friendly landscape. The interior features tile in the traffic areas, office/and 1/2 bath (can convert to a full bath) on main level. Crown molding throughout. The main floor layout is entertainer friendly w/an open dining space and large family room open to the kitchen. The kitchen features double ovens, 36 inch cook top, large center island, granite counters, custom farmhouse tin backsplash, upgraded cabinets and a large pantry. Upgraded stair banister with wrought iron spindles, large loft at the stair landing, 3 secondary bedrooms all generous in size and share a hallway bath. The owner's suite has a beautiful view of the west side mountains, large in size and a spacious en-suite bath w/walk-in closet. Relax and entertain in this gorgeous backyard offering an extra tall aluma wood patio cover (designed to not cut off your view from the dining room) complete w/ceiling fans. Plenty of concrete deck space, built-in BBQ, sparkling pool/spa, fruit trees, grass area, large dog run space and a view of the mountains. 3 car tandem garage w/built-in cabinets. ** Solar is a lease approx 159.00 per month, LOW HOA and a great central location. Lots like this don't come up to often!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$526,410$643,390$584,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,032
Property Tax -$519
Property Insurance -$93
HOA -$80
Property Management Fees -$146
CASH FLOW
-$390

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.

$584,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$10k-$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$160,749

INVESTMENT

$160,749

Down Payment
$146,225
Rehab Estimate
$5,750
Closing Costs
$8,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,225
Loan Amount $438,675
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,446

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4804$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 22991 Greyhawk Road Wildomar, CA 3
    • 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2012 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.91
    •  
  • 23329 Red Willow Way Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1993
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 36148 Madora Drive Wildomar, CA 2
    • 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,844 Sqft ∙ Built 2004
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 37227 Bunchberry Lane Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1994
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 32791 Willow Bay Road Wildomar, CA 5
    • 5 beds 3 baths ∙ 2,809 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,809 Sqft ∙ Built 2000
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.94
    •  
PROPERTY LISTING DETAILS
Ashley Aguilera
Coldwell Banker Assoc.brkr-mur
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21026747
Last Updated: 02/18/2021
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