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29537 Mascot Lake Elsinore, CA 92530

3 Beds 3 Baths 2,049 sqft Built 2013

$437,200

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $213.37
  • 3 Days on Market
  • MLS # : IG20260000
  • Updated Date : 12/18/2020 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,049 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty

Listing Agent's Description

Beautiful 3 bedroom, 2.5 bathroom, 2 story home in the community of Summerly in Lake Elsinore! Enjoy lovely wood flooring, high ceilings, and serene ceiling fans. The open kitchen features a center island, granite countertops, and stainless steel appliances. The upstairs primary bedroom offers a walk-in closet, dual sinks in the primary bathroom, a soaking tub, and walk-in shower. Upstairs also features a bonus room and laundry room. Additional property highlights include sliding doors to the landscaped back yard, patio, a storage shed, paid solar, and a 2 car garage. Community features include the swimming pool, spa, and clubhouse. Convenient to area parks, golf, hiking trails, lake amenities, and easy access to major freeway!

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
 

$393,480$480,920$437,200

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,613
Property Tax -$429
Property Insurance -$77
HOA -$117
Property Management Fees -$132
CASH FLOW
-$137

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.

$437,200

PROJECTED PRICE

$2,230

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$121,608

INVESTMENT

$121,608

Down Payment
$109,300
Rehab Estimate
$5,750
Closing Costs
$6,558

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,613

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,300
Loan Amount $327,900
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$19,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,1003$2,2304$2,3505$2,475
$2,475
RENT COMPS ANALYSIS
  • 29537 Mascot Lake Elsinore, CA 3
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.09
    •  
  • 440 Avenue 10 Lake Elsinore, CA 1
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1993
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.16
    •  
  • 29518 Mascot Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2013
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 29291 Prestwick 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 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
  • 29262 St Andrews Lake Elsinore, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20260000
Last Updated: 12/18/2020
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