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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $256.27
- 14 Days on Market
- MLS # : SW20245567
- Updated Date : 12/04/2020 at 19:23
CONSTRUCTION
- Beds : 4
- Floor Size : 1,857 sqft
- Baths : 3 full
Listing Agent
Allison James Estates & Homes
Listing Agent's Description
THIS beautifully Open floor plan home has been immaculately maintained. The spacious interior offers 9' ceilings , ceiling fans, Nice open kitchen for entertaining. Granite counters, lots of storage and spacious pantry and a breakfast bar for quick meals. One downstairs bedroom, bathroom, separate dining room and a generous laundry room and expansive living room area with fire place and direct access to your covered outdoor patio for kicking back and enjoying barbecuing with family and friends. The large patio and generous back yard is very comfortable and offers lots of privacy. Upstairs you'll find two nice sized bedrooms and bathroom across the hallway is the master suite walk-in closet an open master bathroom all finished with quartz counters., dual sinks, large separate bath tub and glass enclosed shower. Window coverings some are plantation shutters, bamboo shades. Enjoy Summer days while running AC unit without any worries of high power bills it has a solar system and a salt water softener in the garage for the whole house. Enjoy the nice upstairs balcony for view. 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! EASY COMMUTE TO ORANGE COUNTY & SAN DIEGO, LA.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerly
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,080 |
| EXPENSES | Loan Payment | -$1,756 |
| Property Tax | -$467 | |
| Property Insurance | -$72 | |
| HOA | -$117 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$454
|
||
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.
$475,900
PROJECTED PRICE
$2,080
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,864
LOAN DETAILS
$1,756
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $118,975 |
| Loan Amount | $356,925 |
1.25
YEARS SAVED
$3,320
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,080
LIST RENT -
$1.12
LIST RENT PER SQFT
-
$2,131
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
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- $1,900
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- 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013
LEASED 12/24/19- Rent
- Rent Per SQFT
- $2,100
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-
18820 Oakview Way Lake Elsinore, CA 5
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LEASED 04/03/20- Rent
- Rent Per SQFT
- $2,300
- $1.12
PROPERTY LISTING DETAILS
Allison James Estates & Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20245567
Last Updated: 12/04/2020
