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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $228.03
- 3 Days on Market
- MLS # : SW20259769
- Updated Date : 12/19/2020 at 16:09
CONSTRUCTION
- Beds : 4
- Floor Size : 1,969 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California, Inc.
Listing Agent's Description
Gorgeous SINGLE LEVEL RANCH-STYLE HOME with RV PARKING & PAID SOLAR! Tastefully upgraded throughout every room, this one is sure to impress even the most discerning buyer. A neighbor-friendly porch welcomes you as you approach the door. Once inside, you'll be immediately impressed with the custom flooring, modern colors, vaulted ceilings and open-concept design. The formal living room flows seamlessly to a formal dine where you'll find a custom coffee bar and serving area. A butler pass leads to the heart of the home where you'll discover a gourmet kitchen offering stainless appliances, granite counters with bar seating, custom splash and high-end white cabinetry. The family room offers a cozy fire place and easy access to the back patio making this area ideal for entertaining. Down the hall, you'll find a master suite featuring a private bath with separate shower/tub, dual sink vanity, and large walk-in closet. 3 additional bedrooms are spacious and share a large full bath. Out back is an entertainers dream. New turf, putting green, Alumawood patio, free-standing pergola with spa & exterior TV, fire pit, lots of patio space for multiple BBQ's lounge chairs, tables and its all ULTRA PRIVATE! This is a must-see! Welcome home!
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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: Lake View District
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lake View District
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,130 |
| EXPENSES | Loan Payment | -$1,657 |
| Property Tax | -$418 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
-$145
|
||
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.
$449,000
PROJECTED PRICE
$2,130
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 8.1% |
| 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
$124,735
LOAN DETAILS
$1,657
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,250 |
| Loan Amount | $336,750 |
4.25
YEARS SAVED
$21,308
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,130
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,107
COMP ESTIMATED VALUE -
$1.07
COMP AVG. RENT PER SQFT
Comps Range
-
31019 Lausanne Street Lake Elsinore, CA 3
- 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $2,130
- $1.08
-
15234 Washington Avenue Lake Elsinore, CA 1
- 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 2003
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,975
- $1.01
-
15068 Knollwood Street Lake Elsinore, CA 2
- 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 2002
LEASED 02/04/20- Rent
- Rent Per SQFT
- $2,100
- $1.03
-
29272 Northpointe Street Lake Elsinore, CA 4
- 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,914 Sqft ∙ Built 1992
LEASED 02/19/20- Rent
- Rent Per SQFT
- $2,195
- $1.15
-
15154 Biarritz Street Lake Elsinore, CA 5
- 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1995
LEASED 10/31/20- Rent
- Rent Per SQFT
- $2,200
- $1.09
PROPERTY LISTING DETAILS
Exp Realty Of California, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20259769
Last Updated: 12/19/2020
