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25874 Seagrass Wildomar, CA 92595

4 Beds 2 Baths 1,564 sqft Built 2009

$467,900

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $299.17
  • 3 Days on Market
  • MLS # : SW20244369
  • Updated Date : 11/20/2020 at 20:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,564 sqft
  • Baths : 2 full
Listing Agent

Prime Properties

Listing Agent's Description

Immaculate 4bd, 2ba single level home on a large 10,454 sq ft lot that backs up to the hills. This home shows and feels like a model home with new interior paint, new solid quartz countertops, stainless appliances including a mini wine fridge, upgraded laminate wood flooring throughout, upgraded cabinets, ceiling fans, can lighting, walk in pantry/indoor laundry room all in a very usable open floorpan. The large fully landscaped backyard features a new aluminum covered patio and outdoor TV and is perfect for relaxing and/or entertaining while enjoying the view of the hills and/or hanging out around the fire pit under the stars in between taking strokes on the putting green. Home also features epoxy floors and built in cabinets in the garage, and an outdoor covered workbench and storage shed in the sideyard. Home includes a Solar System (which is owned/paid for) and has a record of producing enough electricity to avoid having an electric bill for most of the year (last year they only had one electric bill and it was roughly $20). In addition, sellers are open to the home nearly furnished for an additional price, call for more info

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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: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k676k

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

Neighborhood: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822805

* 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
 

$421,110$514,690$467,900

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,726
Property Tax -$422
Property Insurance -$65
HOA -$84
Property Management Fees -$114
CASH FLOW
-$481

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.

$467,900

PROJECTED PRICE

$1,930

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,744

INVESTMENT

$129,744

Down Payment
$116,975
Rehab Estimate
$5,750
Closing Costs
$7,019

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,726

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,975
Loan Amount $350,925
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$1,9953$2,0004$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 25874 Seagrass Wildomar, CA 1
    • 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 2009 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.23
    •  
  • 23999 Whistling Swan Road Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 36044 Toulon Drive Murrieta, CA 3
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 23768 Castinette Way Murrieta, CA 4
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.10
    •  
  • 39862 Tanager Trail Murrieta, CA 5
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.28
    •  
PROPERTY LISTING DETAILS
Chad Hubbard
Prime Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20244369
Last Updated: 11/20/2020
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