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22992 Showut Avenue Wildomar, CA 92595

3 Beds 2 Baths 1,325 sqft Built 1987

$424,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $320.68
  • 3 Days on Market
  • MLS # : SW21004759
  • Updated Date : 01/09/2021 at 11:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

SPECTACULAR CORNER LOT POOL HOME. This 3 bedroom 2 bathroom single story home offers an open floor plan. Light and bright! Newer cabinetry and Corian counter tops in the kitchen and laminate flooring. Large covered patio, Pool is ready to enjoy on the warn nights. Newer vinyl fencing around yard. This home has an awesome backyard. Don't forget to view the virtual tour.

SEE MORE

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
 

$382,410$467,390$424,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,476
Property Tax -$377
Property Insurance -$59
Property Management Fees -$124
CASH FLOW
$73

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.

$424,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$35,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.59

    LIST RENT PER SQFT
  • $1,851

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$2,0253$2,1004$2,110
$2,110
RENT COMPS ANALYSIS
  • 22992 Showut Avenue Wildomar, CA 4
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.59
    •  
  • 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
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.33
    •  
  • 21788 Poinsettia Lane Wildomar, CA 2
    • 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, CA 3
    • 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
Kimberly Ingram
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21004759
Last Updated: 01/09/2021
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