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34110 Camelina Street Lake Elsinore, CA 92532

4 Beds 2 Baths 1,906 sqft Built 2012

$419,999

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $220.36
  • 3 Days on Market
  • MLS # : SW21008214
  • Updated Date : 01/15/2021 at 15:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,906 sqft
  • Baths : 2 full
Listing Agent

Keller Williams, The Lakes

Listing Agent's Description

LOVELY single story home with a POOL size lot!! Located in the Master Planned Community of Canyon Hills, Lake Elsinore. This home has a great open floor plan with a large family room that opens up to the beautiful kitchen, featuring a large granite Island, and granite counter tops with bar stool seating, stainless steel appliances, medium wood cabinets, recessed lighting and a pantry. Enjoy the over sized family room which opens to the dining room that is great for entertaining family or guests. So much natural light and beauty in this home, it’s hard to imagine. The spacious master suite has a ceiling fan, sliding door access to the backyard, while the spa like master bathroom has double sinks, walk in shower, and a soaking tub. All 3 additional bedrooms are spacious, making this home ideal for everyone. An added bonus, this home is located within walking distance of local community parks, schools, sports parks, and dog park. Canyon Hills in Lake Elsinore is conveniently located between the 15 and 215 freeway, restaurants and shopping

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: Foothill

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k485k

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

Neighborhood: Foothill

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
Herk Bouris Elementary School Primary Unknown 787 32 8
Menifee Valley Middle School Middle Regular 1,006 40 6
Paloma Valley High School High Regular 2,844 101 6

Herk Bouris Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 32
8
GreatSchools Rating

Menifee Valley Middle School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 40
6
GreatSchools Rating

Paloma Valley High School

  • Education Level: High
  • # of students: 2,844
  • # of teachers: 101
6
GreatSchools Rating
 

$377,999$461,999$419,999

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,459
Property Tax -$395
Property Insurance -$73
HOA -$118
Property Management Fees -$130
CASH FLOW
$25

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.

$419,999

PROJECTED PRICE

$2,200

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.8%
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

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $314,999
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$27,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,187

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,2003$2,2004$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 34110 Camelina Street Lake Elsinore, CA 3
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 34115 Dianthus Lane Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2012
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.09
    •  
  • 36251 Pursh Drive Lake Elsinore, CA 2
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2014
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 34230 Baja Court Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
  • 32451 Silver Creek Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,911 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.20
    •  
PROPERTY LISTING DETAILS
Misty Cochren
Keller Williams, The Lakes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21008214
Last Updated: 01/15/2021
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