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25 Corte Rivera Lake Elsinore, CA 92532

5 Beds 3 Baths 2,735 sqft Built 1997

$548,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $200.37
  • 5 Days on Market
  • MLS # : SW20242227
  • Updated Date : 11/19/2020 at 12:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,735 sqft
  • Baths : 3 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

A homeowners dream! luxury house. Seller Motivated. Located in the beautiful Tuscany Hills area. As you enter this home, you are greeted by a spacious and open living room and formal dining room with plenty of natural light and direct access to the beautiful backyard patio! Continue on into the open concept family room and kitchen area! The family room is perfect for entertaining guests and features beautiful Tile hardwood floors, a fireplace and an entertainment nook. The gorgeous kitchen comes equipped with a beautiful neutral colored granite, gorgeous light wood cabinets, a complimenting backsplash granite, a walk-in pantry, and a large kitchen island that can double as a small breakfast bar as well! With five full bedrooms and three full bathrooms, you will have plenty of space for family and guests! In addition to plenty of space, it also features a balcony with an absolutely stunning view. The large master bathroom features beautiful tile, his and her sinks, a beautifully decorated tub with custom mosaic tile, and separate walk-in shower! Brand new wooden Plantation shutters for windows and ceiling fans for rooms. It features with an amazing Pool with Waterfall and Fountains, swimming bar and kitchen covered with Palapa, stone patio and a see-through iron fence that allows you to enjoy the stunning view! Side yard has 6 different fruit trees plum, peach, orange, tangerine, pomegranate, avocado. Paid Solar, Tankless water heater. 3 Car garage. Low Tax. Low HOA.

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: Tuscany Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Tuscany Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10512516

* 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
Tuscany Hills Elementary School Primary Regular 777 33 8
Canyon Lake Middle School Middle Regular 1,207 44 6
Temescal Canyon High School High Regular 2,172 89 7

Tuscany Hills Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 33
8
GreatSchools Rating

Canyon Lake Middle School

  • Education Level: Middle
  • # of students: 1,207
  • # of teachers: 44
6
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

$493,200$602,800$548,000

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 -$2,022
Property Tax -$518
Property Insurance -$93
HOA -$162
Property Management Fees -$146
CASH FLOW
-$461

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.

$548,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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

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$150,970

INVESTMENT

$150,970

Down Payment
$137,000
Rehab Estimate
$5,750
Closing Costs
$8,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,000
Loan Amount $411,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,261

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
  • $2,434

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,280
1$2,2802$2,3003$2,4804$2,4905$2,500
$2,500
RENT COMPS ANALYSIS
  • 25 Corte Rivera Lake Elsinore, CA 3
    • 5 beds 3 baths ∙ 2,735 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,735 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.91
    •  
  • 31 Via Scenica Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2004
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.88
    •  
  • 17 Corte Montena Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 1998
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 29 Bella Donaci Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1994
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.92
    •  
  • 11 Bella Minozza Lake Elsinore, CA 5
    • 5 beds 3 baths ∙ 2,716 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,716 Sqft ∙ Built 1991
    property image
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
PROPERTY LISTING DETAILS
Goli Cutrer
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20242227
Last Updated: 11/19/2020
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