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31926 Rosewood Court Lake Elsinore, CA 92532

5 Beds 3 Baths 2,880 sqft Built 2003

$485,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $168.40
  • 4 Days on Market
  • MLS # : SR21060912
  • Updated Date : 03/26/2021 at 09:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,880 sqft
  • Baths : 3 full
Listing Agent

Re/max Gateway

Listing Agent's Description

Gorgeous end of cul-de-sac 5 bedroom 3 bath home with great yard and views! Once you step inside, you are welcomed with high ceilings, an open floor plan, downstairs bed / bath, and tons of natural light and charm throughout. Offering a large backyard with views, and room for a pool! Perfectly located in the highly sought after Canyon Hills community of Lake Elsinore, just around the corner from the elementary school. With natural parks, recreation areas, hiking trails, pool, spa, splash pad, basketball Court, tennis Court, picnic areas, and much more, this home and community has it all, and you will never want to leave! This turn-key super sharp home is ready for it’s new buyers! Don’t miss out!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,685
Property Tax -$590
Property Insurance -$97
HOA -$119
Property Management Fees -$143
CASH FLOW
-$213

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.

$485,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.50%

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

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,542

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4204$2,5955$2,650
$2,650
RENT COMPS ANALYSIS
  • 31926 Rosewood 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
    •  
    • $2,420
    • $0.84
    •  
  • 30697 Long Point Drive Canyon Lake, CA 1
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2000
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.88
    •  
  • 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
Meghan Khoury
Re/max Gateway
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR21060912
Last Updated: 03/26/2021
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