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29320 Royal Aberdeen Lake Elsinore, CA 92530

4 Beds 4 Baths 2,854 sqft Built 2018

$599,900

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $210.20
  • 5 Days on Market
  • MLS # : SW21008058
  • Updated Date : 01/16/2021 at 21:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,854 sqft
  • Baths : 3 full , 1 half
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

A MULTI-GEN SUITE 2 STORY HOME. Open floor plan with formal dining area or can be used as a office or study room for the kids. Kitchen has a huge center island with bar seating that opens to the family room for entertaining, lots of cabinet space for storage. Double Stainless steel Ovens. Walk-in pantry across from butler's pantry, stainless steel appliances, granite counter tops, custom paint, gorgeous laminate wood plank flooring throughout the main living areas. GEN SUITE HAS ITS OWN PRIVATE ENTRANCE WITH A FULL BATHROOM AND 2 CLOSETS SPACE. ( MINI STUDIO OR ANOTHER MASTER BEDROOM). (Or they are using for home school classroom) Upstairs loft for extra place for the kids to do homework. 1 guest bedroom has its own private bathroom, 2 other bedrooms are good size with another full bathroom to share. Master suite has a nice over sized bathroom with soaking tub and walk in shower, double bowl sink vanity and walk in closet. Laundry room upstairs. Backyard facing the golf course parking lot, sod, patio lights for that evening dining, nice atmosphere for family gatherings. Summerly is a Master Planned Community offering Swim Club, Resort-Like Pool, Clubhouse, Half Basketball Court, 2 Parks, Kid's Splash Zone & Fire Pit. Located across the street from Storm Stadium, Links Golf Course, Close to Shopping, Restaurants, Entertainment & 15 FWY. Professional photos will be done next week.

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: 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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$2,084
Property Tax -$563
Property Insurance -$96
HOA -$117
Property Management Fees -$162
CASH FLOW
-$282

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.

$599,900

PROJECTED PRICE

$2,740

PROJECTED RENT

0.46%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$15,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,733

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,7003$2,7004$2,7405$3,000
$3,000
RENT COMPS ANALYSIS
  • 29320 Royal Aberdeen Lake Elsinore, CA 4
    • 4 beds 4 baths ∙ 2,854 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,854 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.96
    •  
  • 31648 Canyon Estates Drive Lake Elsinore, CA 1
    • 4 beds 2 baths ∙ 2,671 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,671 Sqft ∙ Built 2000
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 29205 Lundin Links Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2017
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
  • 29314 First Green Lake Elsinore, CA 3
    • 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
    •  
  • 29291 Royal Aberdeen Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 2017 4 beds 3 baths ∙ 3,174 Sqft ∙ Built 2017
    property image
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Denise Gould
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21008058
Last Updated: 01/16/2021
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