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34244 Sweet Acacia Court Lake Elsinore, CA 92532

4 Beds 3 Baths 2,108 sqft Built 2006

$475,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $225.33
  • 7 Days on Market
  • MLS # : SW21025266
  • Updated Date : 02/13/2021 at 05:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,108 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Assoc.brks-cl

Listing Agent's Description

GORGEOUS Cul De Sac Home in the master planned community of Canyon Hills! This home has custom landscaping and beautiful hardscape patio areas in the front and rear yards, relax in your own Bit of Paradise...! As you enter you have a room off the entry that is perfectly suited for working remotely! The lower floor boasts an open concept with a Chefs' kitchen, upgraded appliances, granite counters, stone back splash, large island with bar seating that opens to a spacious family room and great dining area...and has a great ship lap accent wall. Also on the main floor is a 4th bedroom/2nd Primary/Great room with a closet, sliders to the back yard, full bath in hall and laundry room inside. Uptairs is a beautiful Primary Suite/bedroom and large walk in closet and bath with dual sinks, shower and Jetted tub. There are 2 other nice bedrooms that share a full bath. Several rooms throughout have new wide plank laminate flooring...Stunning! The home has a 2 car garage and sits on a large pie shaped lot. Has room for a pool! Simply the Best...a must see!

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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
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,650
Property Tax -$578
Property Insurance -$78
HOA -$118
Property Management Fees -$142
CASH FLOW
-$166

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.

$475,000

PROJECTED PRICE

$2,400

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,503

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4004$2,4005$2,750
$2,750
RENT COMPS ANALYSIS
  • 34244 Sweet Acacia Court Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.14
    •  
  • 34230 Baja Court Lake Elsinore, CA 1
    • 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
    •  
  • 34076 Corktree Road Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2009
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 34216 Belfair Way Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 2012
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.25
    •  
  • 35146 Fennel Lane Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Jude Donahue
Coldwell Banker Assoc.brks-cl
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21025266
Last Updated: 02/13/2021
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