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31876 Willow Wood Court Lake Elsinore, CA 92532

5 Beds 3 Baths 2,880 sqft Built 2003

$607,800

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $211.04
  • 2 Days on Market
  • MLS # : IG21030502
  • Updated Date : 02/13/2021 at 11:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,880 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

***HIGHLY UPGRADED POOL HOME W/ PAID OFF SOLAR*** Truly a gorgeous home located in the community of Canyon Hills in Lake Elsinore! This home boasts 5 bedrooms and 3 bathrooms, w/ one bedroom and bathroom downstairs, and a formal dining/living rooms, this is a well laid out floor plan! Upgraded wood look tile flooring throughout the entire home. The remodeled kitchen comes equipped with stainless steel appliances, quartz counter tops, gorgeous kitchen cabinetry, tile backsplash, tons of storage space, and a large quartz waterfall center island. Upstairs you'll find three good sized guest rooms, and the master bedroom with it's own deck/balcony!. Out back, you'll love the HUGE backyard w/ fire pit, gazebopool and raised spa. This 1/3 acre lot is perfect for entertaining and spending summer w/ your friends and loved ones! This home is within walking distance to the elementary school and many of the things that the community of Canyon Hills has to offer, including, parks, recreation areas, hiking trails, pools, spas, splash pad, basketball courts, tennis courts, picnic areas, and much more for your enjoyment. Once you enter this property, you'll know you're at home! Call today and setup your showing appointment before this beautiful home is gone!

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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: Creekside

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k485k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Creekside

ZipNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10512347

* 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
Cottonwood Canyon Elementary School Primary Regular 942 39 6
Canyon Lake Middle School Middle Regular 1,207 44 6
Elsinore High School High Regular 2,125 90 5

Cottonwood Canyon Elementary School

  • Education Level: Primary
  • # of students: 942
  • # of teachers: 39
6
GreatSchools Rating

Canyon Lake Middle School

  • Education Level: Middle
  • # of students: 1,207
  • # of teachers: 44
6
GreatSchools Rating

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$547,020$668,580$607,800

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$2,111
Property Tax -$740
Property Insurance -$97
HOA -$119
Property Management Fees -$146
CASH FLOW
-$742

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.

$607,800

PROJECTED PRICE

$2,470

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,817

INVESTMENT

$166,817

Down Payment
$151,950
Rehab Estimate
$5,750
Closing Costs
$9,117

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $151,950
Loan Amount $455,850
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,484

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4003$2,4704$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 31876 Willow Wood Court Lake Elsinore, CA 3
    • 5 beds 3 baths ∙ 2,880 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,880 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.86
    •  
  • 31934 Flowerhill Drive Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2003
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 33046 Canopy Lane Lake Elsinore, CA 2
    • 4 beds 2 baths ∙ 2,885 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,885 Sqft ∙ Built 2004
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 32001 Sugarbush Lane Lake Elsinore, CA 4
    • 5 beds 3 baths ∙ 2,885 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,885 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.90
    •  
  • 32326 Lace Oak Drive Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,885 Sqft ∙ Built 2006
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.92
    •  
PROPERTY LISTING DETAILS
Oscar Tortola
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21030502
Last Updated: 02/13/2021
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