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33420 Landerville Boulevard Lake Elsinore, CA 92530

3 Beds 3 Baths 1,748 sqft Built 1991

$379,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $216.82
  • 7 Days on Market
  • MLS # : CV20240715
  • Updated Date : 11/20/2020 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,748 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Time Realty

Listing Agent's Description

Gorgeous two story single family home located in Lake Elsinore… Front porch is inviting to sit.. This floor plan includes 3 bedrooms and 3 bathrooms.. Features include kitchen with granite counter tops, black appliances and recessed lighting. This home has a large family room with lots of natural lighting and a beautiful cozy fireplace .. NEW Painting Interior and Exterior.. NEW Carpet.. New Ceiling fans.. New Fixtures.. Two car garage.. This home also has your own balcony to enjoy the view. Landscaping in the front and back yard is very well maintained. This home has a view of the lake!!

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: Country Club Heights Lakeland

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $82k459k

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

Neighborhood: Country Club Heights Lakeland

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280090010001100120013001400150016001700180019002000Rent in $7332078

* 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
Lakeland Village School Primary Regular 912 44 2
Canyon Lake Middle School Middle Regular 1,207 44 6
Lakeside High School High Regular 1,973 87 5

Lakeland Village School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 44
2
GreatSchools Rating

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
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,398
Property Tax -$336
Property Insurance -$70
Property Management Fees -$106
CASH FLOW
-$110

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.

$379,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,891

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,8004$1,8005$2,400
$2,400
RENT COMPS ANALYSIS
  • 33420 Landerville Boulevard Lake Elsinore, CA 4
    • 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,748 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 32925 Lillian Avenue Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1979
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 33148 Gillette Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1980
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.17
    •  
  • 33650 Naranjo Drive Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2005
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.23
    •  
  • 33255 Hollister Drive Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Margarita Junak
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20240715
Last Updated: 11/20/2020
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