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32936 Lillian Avenue 
Lake Elsinore, CA
92530
3 Beds 2 Baths 1,298 sqft
Built 1984
INVESTimate
$349,000
List Price
$98,235
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PROPERTY INFO
FACTS
- Built In 1984
- Price/Sqft : $268.88
- 14 Days on Market
- MLS # : SW20163221
- Updated Date : 08/24/2020 at 10:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,298 sqft
- Baths : 2 full
Listing Agent
Marin Realty Group
Listing Agent's Description
Welcome to Lake Elsinore! This home has 3 bedrooms, 2 full bathrooms. Walking distance to the lake, only a few hundred feet from home. The lake offers a variety of activities from Fishing, to water skiing. Conveniently located near all shopping and restaurants, as well with the Ortega Highway!
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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: Lugosi Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lugosi Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$1,288 |
| Property Tax | -$304 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$139
|
||
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.
$349,000
PROJECTED PRICE
$1,610
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 9.04% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,235
LOAN DETAILS
$1,288
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,250 |
| Loan Amount | $261,750 |
3.58
YEARS SAVED
$13,665
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,610
LIST RENT -
$1.24
LIST RENT PER SQFT
-
$1,593
COMP ESTIMATED VALUE -
$1.23
COMP AVG. RENT PER SQFT
Comps Range
-
32936 Lillian Avenue Lake Elsinore, 1
- 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,298 Sqft ∙ Built 1984
![property image]()
- Rent
- Rent Per SQFT
- $1,610
- $1.24
-
17540 Bodkin Avenue Lake Elsinore, 2
- 3 beds 1 baths ∙ 1,348 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,348 Sqft ∙ Built 1986
![property image]()
LEASED 09/09/19- Rent
- Rent Per SQFT
- $1,745
- $1.29
-
33148 Gillette Lake Elsinore, 3
- 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980
![property image]()
LEASED 09/13/19- Rent
- Rent Per SQFT
- $1,795
- $1.17
-
1505 Morro Way Lake Elsinore, 4
- 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1979
![property image]()
LEASED 11/04/19- Rent
- Rent Per SQFT
- $1,800
- $1.22
-
15101 Lighthouse Lane Lake Elsinore, 5
- 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2004
![property image]()
LEASED 01/29/20- Rent
- Rent Per SQFT
- $2,000
- $1.23
PROPERTY LISTING DETAILS
Marin Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20163221
Last Updated: 08/24/2020
