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33709 Mistflower Court Lake Elsinore, CA 92532

4 Beds 3 Baths 1,880 sqft Built 2006

$459,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $244.15
  • 4 Days on Market
  • MLS # : PW21150845
  • Updated Date : 07/11/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,880 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tm Real Estate Brokers

Listing Agent's Description

Beautiful home in a quit Cul De Sac om a desored area of Lake Elsinore. Close to schools, shopping and recreation. This 2 story floor plan with 4 bedrooms(master with double sinks/bath tub/shower), 2 1/2 baths with large laundry room with new floor tile. Kitchen has been upgraded over lookingthe back yard/patio. Upgraded Hardwood flooring down stairs, new AC Unit(2 weeks old) with Ultra Violet UV filter, water heater(3 year old), ADT security system installed. Low HOA due at $128./month amenities includes 3 pools, 3 parks, club house, basketball/tennis courts and walking trails. Seller giving buyer $1700. for new carpet upstairs. Low electricity bill from 16 SOLAR panels.

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: Creekside

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k485k

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

Neighborhood: Creekside

ZipNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10512347

* 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
Cottonwood Canyon Elementary School Primary Regular 942 39 6
Canyon Lake Middle School Middle Regular 1,207 44 6
Elsinore High School High Regular 2,125 90 5

Cottonwood Canyon Elementary School

  • Education Level: Primary
  • # of students: 942
  • # of teachers: 39
6
GreatSchools Rating

Canyon Lake Middle School

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

Elsinore High School

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

$413,100$504,900$459,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,594
Property Tax -$563
Property Insurance -$73
HOA -$128
Property Management Fees -$139
CASH FLOW
-$137

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.

$459,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.3%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,385

INVESTMENT

$127,385

Down Payment
$114,750
Rehab Estimate
$5,750
Closing Costs
$6,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,750
Loan Amount $344,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,317

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,3004$2,3605$2,400
$2,400
RENT COMPS ANALYSIS
  • 33709 Mistflower Court Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.26
    •  
  • 34030 Winterberry Lane Lake Elsinore, CA 1
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2006
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.26
    •  
  • 31943 Honeysuckle Court Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,770 Sqft ∙ Built 2002
    property image
    LEASED 04/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.24
    •  
  • 34234 Aurora Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2006
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.21
    •  
  • 34128 Dianthus Lane Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2014
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.22
    •  
PROPERTY LISTING DETAILS
Sam West
Tm Real Estate Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21150845
Last Updated: 07/11/2021
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