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34234 Aurora Court Lake Elsinore, CA 92532

3 Beds 2 Baths 1,907 sqft Built 2006

$450,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $235.97
  • 4 Days on Market
  • MLS # : SW21003590
  • Updated Date : 01/07/2021 at 10:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full
Listing Agent

Trillion Real Estate

Listing Agent's Description

This beautiful cul-de-sac Canyon Hills home is a must see! As you enter the home, you will find the open family room, featuring neutral tile, a fireplace and plenty of natural light. The adjacent kitchen overlooks the family room and comes equipped with all major stainless steel appliances, granite counters, kitchen island and a breakfast bar! There is also a dining area nearby with a lovely accent wall. The spacious master bedroom claims this side of the home, featuring neutral gray walls, dual vanity sinks, a large soaking tub, enclosed shower, and walk-in closet. On the other side of the home, you will find the laundry room, two additional bedrooms and another full bathroom. The whole second story of the home is a large loft; a great space for a variety of uses! The backyard offers a perfect space to enjoy those outdoor dinners, complete with a concrete patio and gazebo! This home also comes with great community amenities; including a community pool, spa, parks and more! Also minutes from a shopping center! Don't miss out on this incredible opportunity!

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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: 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
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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,563
Property Tax -$552
Property Insurance -$73
HOA -$140
Property Management Fees -$133
CASH FLOW
-$211

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.

$450,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.50%

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-$5.0k$0.0$5.0k$10k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$9,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,2504$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 34234 Aurora Court Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,907 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.18
    •  
  • 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
    •  
  • 34230 Baja Court Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
  • 34234 Aurora Lake Elsinore, CA 4
    • 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
    •  
  • 34216 Belfair Way Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2012
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
PROPERTY LISTING DETAILS
Tyson Robinson
Trillion Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21003590
Last Updated: 01/07/2021
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