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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $182.26
- 12 Days on Market
- MLS # : SW20247091
- Updated Date : 12/04/2020 at 20:26
CONSTRUCTION
- Beds : 4
- Floor Size : 2,469 sqft
- Baths : 2 full
Listing Agent
The Real Estate Shoppe
Listing Agent's Description
BEAUTIFUL 4 BEDROOM 2.75 BATH HOME LOCATED IN PRESTIGIOUS CANYON HILLS FOOTHILL COMMUNITY. THIS 2 STORY HOME FEATURES A SPACIOUS OPEN FLOOR PLAN WITH A BRIGHT & AIRY LIVING ROOM & FAMILY ROOM INCLUDING A COZY FIREPLACE. A FORMAL DINING ROOM IS PERFECT FOR ENTERTAINING. THIS HOME ALSO HAS A LOFT RETREAT, TO WIND DOWN. THE KITCHEN FEATURES PLENTY OF COUNTER SPACE, A CENTER ISLAND & LARGE PANTRY. A DISHWASHER, MICROWAVE, RANGE & REFRIGERATOR ARE INCLUDED. THE MASTER BATHROOM FEATURES A CATHEDRAL CEILING, HIS/HER SINKS WITH VANITY AREA, AS WELL AS SOAKING TUB & SEPARATE SHOWER. 1 BEDROOM IS DOWNSTAIRS, WHICH CAN BE USED AS AN OFFICE. THE PROPERTY ALSO HAS AN UPSTAIRS LAUNDRY ROOM WHICH INCLUDES A DRYER. THIS HOME ALSO HAS CUSTOM PAINT, TILE FLOORING AS WELL AS LAMINATE FLOORING THROUGHOUT. THE BACK-YARD BOASTS A COVERED PATIO, PERFECT FOR BACK-YARD GATHERINGS, AS WELL AS A LOW MAINTENANCE PLANTS. CLOSE TO SHOPPING, PARKS, SCHOOLS & FREEWAY. NO PETS. THE COMMUNITY HAS 3 POOLS INCLUDED IN THE ASSOCIATION, AS WELL AS SEVERAL WALKING TRAILS, BASKETBALL COURTS, TENNIS COURTS AND REC CENTER.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Foothill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$423 | |
| Property Insurance | -$87 | |
| HOA | -$118 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$143
|
||
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.
$449,988
PROJECTED PRICE
$2,280
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,997
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,497 |
| Loan Amount | $337,491 |
4.08
YEARS SAVED
$20,158
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$2,444
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
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- $2,313
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-
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- 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,555
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35422 Ocotillo Court Lake Elsinore, CA 5
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LEASED 11/15/20- Rent
- Rent Per SQFT
- $2,700
- $0.96
PROPERTY LISTING DETAILS
The Real Estate Shoppe
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20247091
Last Updated: 12/04/2020
