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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $177.76
- 4 Days on Market
- MLS # : IG21006248
- Updated Date : 02/06/2021 at 10:02
CONSTRUCTION
- Beds : 5
- Floor Size : 2,756 sqft
- Baths : 3 full
Listing Agent
First Team Real Estate
Listing Agent's Description
This beautiful home is located in the award winning master planned community of Canyon Hills and will be part of the newest gated village of Westridge. The first floor includes a beautiful upgraded kitchen which includes granite counters, rich cabinetry and stainless steel appliances. The kitchen is open to the dining area and great room. Upstairs you will enjoy large bedrooms for guests or kids. The master bedroom has a large bathroom with a large walk in closet. You will enjoy relaxing spacious back yard while enjoying the several amenities this community plans to offer. Oh... and say good buy to big utility bills! This home also includes a whole house fan and ... Solar that is owned!
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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: Lake Elsinore Hills District
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake Elsinore Hills District
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $2,400 |
EXPENSES | Loan Payment | -$1,702 |
Property Tax | -$596 | |
Property Insurance | -$94 | |
HOA | -$190 | |
Property Management Fees | -$142 | |
CASH FLOW
-$324
|
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.
$489,900
PROJECTED PRICE
$2,400
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 3.96% |
Appreciation Year (1-5) | 5.8% |
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
$135,574
LOAN DETAILS
$1,702
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $122,475 |
Loan Amount | $367,425 |
1.83
YEARS SAVED
$6,033
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$2,363
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21006248
Last Updated: 02/06/2021