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32070 Meadow Wood Lane Lake Elsinore, CA 92532

3 Beds 3 Baths 1,770 sqft Built 2002

$425,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $240.11
  • 2 Days on Market
  • MLS # : SW21056750
  • Updated Date : 03/20/2021 at 14:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,770 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sean Oneil-broker

Listing Agent's Description

Just listed in the beautiful community of Canyon Hills, a Master Planned Community featuring several parks, pools, schools, and more. Three bedrooms, two and one-half bathrooms, plus an upstairs loft. Laundry room located downstairs. Two car attached garage. Central AC and heat. New interior paint, new carpet upstairs, laminate wood flooring downstairs, new kitchen appliances, granite countertops in kitchen. Backyard has a concrete patio, an Alumawood patio cover, a fenced dog run area, concrete sidewalk, and view of surrounding hills. Great location, corner lot, ready for immediate move-in. See photos for more detail. Call today to schedule a showing.

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: 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,476
Property Tax -$521
Property Insurance -$70
HOA -$119
Property Management Fees -$122
CASH FLOW
-$239

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.

$425,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,186

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1003$2,1504$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 32070 Meadow Wood Lane Lake Elsinore, CA 1
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.17
    •  
  • 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
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
  • 34030 Winterberry Lane Lake Elsinore, CA 3
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.26
    •  
  • 24139 Hibiscus Lane Lake Elsinore, CA 4
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2017
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.25
    •  
  • 32451 Silver Creek Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.20
    •  
PROPERTY LISTING DETAILS
Sean Oneil
Sean Oneil-broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21056750
Last Updated: 03/20/2021
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