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32469 Meadow Ridge Lane Wildomar, CA 92595

4 Beds 2 Baths 2,033 sqft Built 2012

$510,300

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $251.01
  • 3 Days on Market
  • MLS # : IG21034964
  • Updated Date : 02/19/2021 at 11:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,033 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Beautiful 4 bedroom, 2 bathroom, single story home in the community of Wildomar! Enjoy an elegant front entry to the open floor plan with high ceilings and serene ceiling fans. The family room offers an inviting fireplace, views to the back yard, and is adjacent to the open kitchen. The kitchen features a large center island, granite countertops, a walk-in pantry, and stainless steel appliances. The primary bedroom features a walk-in closet, dual sinks in the primary bathroom, a soaking tub, and a walk-in shower. Additional property highlights include the outdoor covered patio with ceiling fan, landscaped back yard, and 3 car garage. Convenient to area schools, markets, and major freeways!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wildomar

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Wildomar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10782398

* 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
Donald Graham Elementary School Primary Regular 515 23 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Donald Graham Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 23
4
GreatSchools Rating

David A. Brown Middle School

  • Education Level: Middle
  • # of students: 1,010
  • # of teachers: 41
4
GreatSchools Rating

Elsinore High School

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

$459,270$561,330$510,300

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,772
Property Tax -$453
Property Insurance -$76
HOA -$40
Property Management Fees -$137
CASH FLOW
-$159

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.

$510,300

PROJECTED PRICE

$2,320

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,980

INVESTMENT

$140,980

Down Payment
$127,575
Rehab Estimate
$5,750
Closing Costs
$7,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,772

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,575
Loan Amount $382,725
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$19,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,419

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3203$2,3254$2,3505$2,495
$2,495
RENT COMPS ANALYSIS
  • 32469 Meadow Ridge Lane Wildomar, CA 2
    • 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,033 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.14
    •  
  • 37367 Huckaby Lane Murrieta, CA 1
    • 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 1993
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 35850 Frederick Street Wildomar, CA 3
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1999
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.17
    •  
  • 23221 Harbor Seal Court Wildomar, CA 4
    • 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2001
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.19
    •  
  • 23080 Cannery Road Wildomar, CA 5
    • 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,917 Sqft ∙ Built 2001
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.30
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21034964
Last Updated: 02/19/2021
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