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24942 Pasture Court Wildomar, CA 92595

4 Beds 2 Baths 2,934 sqft Built 2003

$550,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $187.46
  • 6 Days on Market
  • MLS # : SW21006334
  • Updated Date : 01/15/2021 at 11:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 2 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

VIEWS! PRIVACY! CUL-DE-SAC! FULLY-PAID SOLAR! THIS ~2,934 sq. ft. TURNKEY home has 4 BR(1 on main floor), 3 baths, PLUS a loft. You'll be wowed from the moment you pull up as this home has great curb appeal w/ its nicely done landscaping & a quaint front porch. As you step inside, you'll be greeted w/ the formal living/dining rm w/ rich laminate floors. The spacious kitchen w/ clean white cabinets and granite counters has a lg. island w/lots of storage & pendant lights great for entertaining & cooking and is open to the family rm w/ FP, ceiling fan, & is wired for surround sound. Also on the 1st floor you'll find the spacious MAIN FLOOR BDRM w/ mirrored wardrobes & ceiling fan which adjoins to the MAIN FLOOR BA w/shower- great for guests or mother-in-law suite. On the 2nd floor, you'll find newer plush carpeting throughout-2 very large secondary bdrms (the one could be converted to make this a 5 BR home), secondary BA w/ dual sinks & tub-shower combo, laundry rm, & a loft- a great potential homeschool space. The master bdrm w/ retreat & double-sided fireplace will certainly be a place you can relax at the end of a day. Sit on your balcony and watch the sunset! The UPDATED master BA features a make-up vanity, dual sinks, soaking tub, shower & nice-sized walk-in closet. Outside, in this PRIVATE POOL-SIZED LOT, you'll enjoy the aluma-wood patio cover w/ceiling fans, trickling pond, fountains, & fire pit. This home also has a 3 car garage, LOW TAXES, & is centrally located!

SEE MORE

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

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Wildomar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10782398

* 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
Ronald Reagan Elementary School Primary Regular 709 30 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Ronald Reagan Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 30
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
 

$495,000$605,000$550,000

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 -$1,910
Property Tax -$488
Property Insurance -$98
HOA -$51
Property Management Fees -$146
CASH FLOW
-$214

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.

$550,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,504

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
  • $0.85

    LIST RENT PER SQFT
  • $2,575

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4803$2,6994$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 24942 Pasture Court Wildomar, CA 2
    • 4 beds 2 baths ∙ 2,934 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,934 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.85
    •  
  • 40760 Robards Way Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 25136 Wolcott Court Wildomar, CA 3
    • 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,699
    • $0.83
    •  
  • 24125 Montecito Drive Wildomar, CA 4
    • 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 40886 Bouvier Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jennifer Hultquist
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21006334
Last Updated: 01/15/2021
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