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29322 St Andrews Lake Elsinore, CA 92530

4 Beds 3 Baths 2,223 sqft Built 2015

$445,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $200.18
  • 5 Days on Market
  • MLS # : PTP2001115
  • Updated Date : 11/02/2020 at 12:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,223 sqft
  • Baths : 3 full
Listing Agent

Sellstate Next Gen Realty

Listing Agent's Description

Feel like you are really at home in this marvelously upgraded home in the master planned Summerly community. Large family room. Plantation shutters and custom crown molding throughout. Whole house soft water system, Security camera and HD Lighting. Master bedroom has a custom barn door into the bathroom, walk in closet, soaking tub, double vanity sinks for a real master retreat. This home has upgraded stair rails. The kitchen has gorgeous, granite counter tops with granite back splash, stainless steel sink and steel appliances, large extended kitchen island with a breakfast bar, beach wood cabinets. Extensive electrical upgrades, laundry room sink and a large covered patio in the Spanish style back yard. 2 car garage with coach lanterns at exterior. The backyard has a cabana and easy green turf lawn and is perfect for entertaining during the cool autumn evenings. Enjoy the Storm Stadium home game fireworks!! Enjoy the Olympic size pool and spa at the community clubhouse with a half court, barbeque area and enjoy the gas fireplace. Golf your heart out at the community golf course.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,642
Property Tax -$418
Property Insurance -$81
HOA -$117
Property Management Fees -$135
CASH FLOW
-$103

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.

$445,000

PROJECTED PRICE

$2,290

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$23,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,334

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3003$2,3504$2,4755$2,700
$2,700
RENT COMPS ANALYSIS
  • 29322 St Andrews Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.03
    •  
  • 29317 Centerfield Lake Elsinore, CA 2
    • 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
    •  
  • 29291 Prestwick 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 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
    property image
    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
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
PROPERTY LISTING DETAILS
Elisabeth De Telder-collins
Sellstate Next Gen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PTP2001115
Last Updated: 11/02/2020
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