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29205 Lundin Links Lake Elsinore, CA 92530

4 Beds 4 Baths 2,521 sqft Built 2017

$499,998

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $198.33
  • 13 Days on Market
  • MLS # : DW21049479
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,521 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Masters

Listing Agent's Description

WELCOME TO THE SUMMERLY COMMUNITY! THIS WONDERFUL HOME INCLUDES MANY AMENTITIES AND FEATURES. THE FORMAL ENTRY LEADS YOU INTO THE LIVING ROOM & DINING AREA. THE KITCHEN INCLUDES LARGE KITCHEN ISLAND WITH GRANITE COUNTERTOPS, DUAL SINKS & BREAKFAST COUNTER/BAR, STAINLESS STEEL APPLIANCES, LOTS OF CABINET & COUNTER SPACE, AND A WALK-IN PANTRY OFF DINING AREA. YOU CAN EXIT THROUGH THE SLIDING GLASS DOOR TO COVERED BACK PATIO. THERE IS ALSO A MAIN FLOOR BEDROOM & FULL BATHROOM, WHICH CAN ALSO BE GUESTS/MAID/INLAWS QUARTERS. UPSTAIRS IS A LARGE LANDING WITH A LOFT/FAMILY ROOM. THE MASTER BEDROOM HAS A NICE VIEW, WALK-IN CLOSET, MASTER BATHROOM INCLUDES DUAL SINKS VANITY AREA, SEPARATE SHOWER & BIG TUB. LAUNDRY ROOM HAS UTILITY SINK, COUNTER/CABINET SPACE. DIRECT ACCESS FROM HUGE GARAGE. CENTRAL AIR, CENTRAL VACUUM SYSTEM, RECESSED LIGHTING, AND CERAMIC TILE THROUGHOUT. SOLAR PANEL SYSTEM TO SAVE ON ENERGY COSTS. HOA COMMUNITY INCLUDES POOLS, CLLUBHOUSE, SPORT COURT. THERE ARE SEVERAL NEARBY PARKS, A SKATE PARK, AND GOLF COURSE. THIS COMMUNITY HAS JUST ABOUT EVERYTHING.

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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: Summerly

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $132k459k

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

Neighborhood: Summerly

ZipNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9902083

* 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
William Collier Elementary School Primary Regular 612 26 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

William Collier Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 26
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
 

$449,998$549,998$499,998

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,737
Property Tax -$470
Property Insurance -$88
HOA -$117
Property Management Fees -$145
CASH FLOW
-$106

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.

$499,998

PROJECTED PRICE

$2,450

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.0%
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$138,249

INVESTMENT

$138,249

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$21,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,609

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,4754$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 29205 Lundin Links Lake Elsinore, CA 2
    • 4 beds 4 baths ∙ 2,521 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,521 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
  • 29317 Centerfield Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 29262 St Andrews Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.11
    •  
  • 29390 Batters Box Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2012
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
  • 29314 First Green Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jeanet Salazar
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21049479
Last Updated: 03/20/2021
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