Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

29271 St Andrews Lake Elsinore, CA 92530

4 Beds 3 Baths 2,223 sqft Built 2015

$460,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $206.93
  • 4 Days on Market
  • MLS # : SW20263605
  • Updated Date : 01/01/2021 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,223 sqft
  • Baths : 3 full
Listing Agent

Better Homes And Gardens Real Estate Registry

Listing Agent's Description

Beautiful, pristine 4 bedroom, 3 bath home located in the highly desirable Summerly Community. The home has a huge kitchen island that opens to a breakfast nook and oversized family room. The kitchen has dark beechwood cabinets- extending the entire length of kitchen with brushed nickel pulls, slab granite countertops, full granite backsplash, stainless steel sink and stainless steel GE appliances. There is oversized tile flooring set on the diagonal throughout downstairs with Luxury Vinyl Plank in the great room. One spacious bedroom downstairs (currently used as an office) with full bathroom.Upstairs is a beautiful master suite with separate walk-in shower, garden tub, dual vanities,and large walk in closet. Upstairs you will find two additional bedrooms, full bathroom, and laundry room with sink, upper laundry cabinets, and additional storage space. Step out into the tranquil and peaceful backyard. There is an oversized outdoor patio with recessed can lights and ceiling fan outlet. Backyard has been completely landscaped with custom concrete and drought resistant plants. The backyard is very private and ready to be enjoyed. Enjoy the wonderful amenities of the Summerly Community--there is something for everyone. The Summerly Golf course is within walking distance. There are several community parks and playgrounds nearby. Take advantage of the clubhouse, pools, spas, and the sports courts. Don't miss your opportunity to own this great home.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,697
Property Tax -$432
Property Insurance -$81
HOA -$117
Property Management Fees -$138
CASH FLOW
-$125

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.

$460,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,334

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3403$2,3504$2,4755$2,700
$2,700
RENT COMPS ANALYSIS
  • 29271 St Andrews Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.05
    •  
  • 29317 Centerfield Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 29291 Prestwick Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
  • 29262 St Andrews Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.11
    •  
  • 29205 Lundin Links Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
PROPERTY LISTING DETAILS
Jessica Small
Better Homes And Gardens Real Estate Registry
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20263605
Last Updated: 01/01/2021
BESbswy