Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

34241 Toyon Court Lake Elsinore, CA 92532

4 Beds 2 Baths 2,469 sqft Built 2006

$449,988

List Price

$2,280

$2.1K - $2.5K

Rent Est.

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.

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
 

$404,989$494,987$449,988

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

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

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$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$124,997

INVESTMENT

$124,997

Down Payment
$112,497
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.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,497
Loan Amount $337,491
See What Happens When You Reinvest Cash Flow

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
$2,250
1$2,2502$2,2803$2,3134$2,5555$2,700
$2,700
RENT COMPS ANALYSIS
  • 34241 Toyon Court Lake Elsinore, CA 2
    • 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,469 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.92
    •  
  • 34096 Agaliya Court Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,326 Sqft ∙ Built 2010
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 32040 Poppy Way Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2002
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,313
    • $1.01
    •  
  • 36401 Verbena Road Lake Elsinore, CA 4
    • 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
    • $1.02
    •  
  • 35422 Ocotillo Court Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2006
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michael Gracia
The Real Estate Shoppe
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20247091
Last Updated: 12/04/2020
BESbswy