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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $208.14
- 3 Days on Market
- MLS # : SW21004872
- Updated Date : 01/09/2021 at 11:43
CONSTRUCTION
- Beds : 3
- Floor Size : 1,633 sqft
- Baths : 2 full , 1 half
Listing Agent
Kallen Realty
Listing Agent's Description
Beautiful Gated Brookview Terrace Community Condo/Townhouse End Unit. FHA & VA APPROVED Beautiful hardwood floors downstairs, ENTIRE INTERIOR FRESHLY PAINTED BRAND NEW CARPET, UPGRADED Cabinets and Granite Counter tops. Custom Window covers and ceiling fans. Attached 2 Car Garage easy access to Kitchen. Large Master Suite that offers Dual sinks, large tub and separate shower, Walk-In closet. Upstairs tech center and plenty of cabinet space. Upstairs Laundry room. This home shows beautifully and better then new with the upgrades. The community offers Pool, Spa BBQ, and Tot Lot. Recreation Room with Gym Ex Room Walking distance to shopping center and easy access to both 15 & 215 Freeway. Must see to appreciate how nice this community is.
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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: Canyon Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,950 |
| EXPENSES | Loan Payment | -$1,181 |
| Property Tax | -$414 | |
| Property Insurance | -$67 | |
| HOA | -$82 | |
| Property Management Fees | -$115 | |
|
CASH FLOW
$92
|
||
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.
$339,900
PROJECTED PRICE
$1,950
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.1% |
| 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
$95,824
LOAN DETAILS
$1,181
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $84,975 |
| Loan Amount | $254,925 |
6.92
YEARS SAVED
$28,535
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,950
LIST RENT -
$1.19
LIST RENT PER SQFT
-
$2,021
COMP ESTIMATED VALUE -
$1.24
COMP AVG. RENT PER SQFT
Comps Range
-
30505 Canyon Hills Road Lake Elsinore, CA 1
- 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2007
![property image]()
- Rent
- Rent Per SQFT
- $1,950
- $1.19
-
32358 Fernleaf Drive Lake Elsinore, CA 2
- 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,703 Sqft ∙ Built 2004
![property image]()
LEASED 03/31/20- Rent
- Rent Per SQFT
- $2,100
- $1.23
-
32033 Meadow Wood Lane Lake Elsinore, CA 3
- 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002
![property image]()
LEASED 02/04/20- Rent
- Rent Per SQFT
- $2,145
- $1.21
-
34030 Winterberry Lane Lake Elsinore, CA 4
- 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006
![property image]()
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,150
- $1.26
-
24139 Hibiscus Lane Lake Elsinore, CA 5
- 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2017
![property image]()
LEASED 07/18/20- Rent
- Rent Per SQFT
- $2,250
- $1.25
PROPERTY LISTING DETAILS
Kallen Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21004872
Last Updated: 01/09/2021
