Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

32928 Shadow Trails Lane Lake Elsinore, CA 92530

3 Beds 3 Baths 2,749 sqft Built 2003

$459,700

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $167.22
  • 6 Days on Market
  • MLS # : OC21060546
  • Updated Date : 03/24/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,749 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Oc Coastal Realty

Listing Agent's Description

Welcome home to this beautiful 3 bedroom 2700+ square feet mountain view home! This one won't last long with it's desired floorplan, tall ceilings and a downstairs guest quarters currently being used as a 4th bedroom. Complete with hard wood floors, indoor laundry, and a cozy fireplace with a living room open to the kitchen. Now add an upstairs bonus room for office or play area and this one screams togetherness. The spacious master suite boasts a large soaker tub and walk in closet. The close proximity to the Lake, mountains, and schools make this an ideal home for any buyer.

SEE MORE

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: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $98k459k

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

Neighborhood: Lakeland Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9012078

* 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
Canyon Lake Middle School Middle Regular 1,207 44 6
Lakeside High School High Regular 1,973 87 5

Canyon Lake Middle School

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

Lakeside High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 87
5
GreatSchools Rating
 

$413,730$505,670$459,700

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,597
Property Tax -$408
Property Insurance -$94
HOA -$60
Property Management Fees -$136
CASH FLOW
$6

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.

$459,700

PROJECTED PRICE

$2,300

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$0.0$5.0k$10k$15k$20k

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$127,571

INVESTMENT

$127,571

Down Payment
$114,925
Rehab Estimate
$5,750
Closing Costs
$6,896

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,597

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,925
Loan Amount $344,775
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,488

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,3003$2,3004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 32928 Shadow Trails Lane Lake Elsinore, CA 3
    • 3 beds 3 baths ∙ 2,749 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,749 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 32910 Sandal Wood Lane Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.73
    •  
  • 29317 Centerfield Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,402 Sqft ∙ Built 2013
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 29314 First Green Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,789 Sqft ∙ Built 2017
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 32875 Trailwood Court Wildomar, CA 5
    • 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 1991
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Simon Guy
Keller Williams Oc Coastal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21060546
Last Updated: 03/24/2021
BESbswy