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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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!
SEE MORE
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
* 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 | $2,400 |
| 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
| 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
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
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
-
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
Coldwell Banker Assoc.brks-cl
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21025266
Last Updated: 02/13/2021
