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33589 View Crest Drive Wildomar, CA 92595

3 Beds 3 Baths 1,559 sqft Built 1990

$375,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $240.54
  • 4 Days on Market
  • MLS # : SW21000871
  • Updated Date : 01/08/2021 at 08:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

Welcome to Wildomar. NO HOA. LOW TAXES. This home is located in a neighborhood nestled off of Bundy Canyon Rd, with easy access to I-15. It has 3 bedrooms, 2.5 baths, and a 2-car garage. It features RV parking, indoor laundry, a wood-burning fireplace, and a separate dining area. This home has so much potential. There are no neighbors behind you, so you can enjoy the great view from the master bedroom balcony, which was just re-done. The backyard is fully landscaped with a newly refinished and revitalized deck, a fire pit, kids playhouse, and grass. The front yard has beautiful, tall palm trees and great curb-appeal. Come check it out.

SEE MORE

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: 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
Ronald Reagan Elementary School Primary Regular 709 30 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Ronald Reagan Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 30
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,303
Property Tax -$335
Property Insurance -$65
Property Management Fees -$127
CASH FLOW
$321

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.

$375,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$58,256

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 33589 View Crest Drive Wildomar, CA 5
    • 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.38
    •  
  • 33859 Canyon Ranch Road Wildomar, CA 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.33
    •  
  • 33697 Breckenridge Wildomar, CA 2
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 33680 Tamerron Way Wildomar, CA 3
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1990
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.42
    •  
  • 33595 Viewpoint Drive Wildomar, CA 4
    • 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 1990
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.35
    •  
PROPERTY LISTING DETAILS
Ashley Giddings
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21000871
Last Updated: 01/08/2021
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