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35225 Angel Falls Dr Lake Elsinore, CA 92532

3 Beds 2 Baths 1,293 sqft Built 2013

INVESTimate

$369,999

List Price

$1,940

$1,746 - $2,134

Rent Est.

$395,122  ( +6.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $286.16
  • 13 Days on Market
  • MLS # : 200039193
  • Updated Date : 08/25/2020 at 09:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,293 sqft
  • Baths : 2 full
Listing Agent

Ardent Real Estate Services

Listing Agent's Description

SINGLE STORY! LARGE FENCED YARD! NO NEIGHBORS BEHIND! UPDATED! Perfect home ideal for first time home buyers or buyers that are downsizing to be in a newer community on a quiet street in a safe neighborhood. This cozy home offers excellent curb appeal and plenty of parking! Inside, plantation shutters, recessed lighting, luxury vinyl plank flooring and neutral paint gives the home a modern look. Don't wait! This home won't last! SINGLE STORY! LARGE FENCED YARD! NO NEIGHBORS BEHIND! UPDATED! Perfect home ideal for first time home buyers or buyers that are downsizing to be in a newer community on a quiet street in a safe neighborhood. This cozy home offers excellent curb appeal and plenty of parking! Inside, plantation shutters, recessed lighting, luxury vinyl plank flooring and neutral paint gives the home a modern look. Kitchen was recently updated and features a large pantry! This home is an open concept for easy entertaining whether indoor or outdoor. Bedrooms are bright with the master having a ceiling fan, large closets and dual sinks. For outdoor entertaining you have options with the attached patio cover with a built in ceiling fan as well as a nice newly concreted area for hanging out, BBQing or having a fire pit. Private paved backyard with a green grassy area for pets or kids for COMPLETE PRIVACY. Or you can hang out under the detached pergola that will be the go-to spot for summer nights. Close to local elementary school and Canyon Hills amenities including parks, recreation areas, hiking trails. Pools, spas, splash pads, basketball courts, tennis courts, and much more! This home has it all!. Neighborhoods: Lake Elsinore Equipment: Range/Oven Other Fees: 0 Sewer: Sewer Connected Topography: LL,SSLP

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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
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
 

$332,999$406,999$369,999

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,365
Property Tax -$348
Property Insurance -$59
HOA -$119
Property Management Fees -$114
CASH FLOW
-$65

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.

$369,999

PROJECTED PRICE

$1,940

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.79%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,499
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9403$2,0004$2,100
$2,100
RENT COMPS ANALYSIS
  • 35225 Angel Falls Dr Lake Elsinore, 2
    • 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.50
    •  
  • 30505 Canyon Hills Road Lake Elsinore, 1
    • 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,633 Sqft ∙ Built 2009
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 30020 Skipjack Canyon Lake, 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1996
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.25
    •  
  • 34182 Carissa Drive Lake Elsinore, 4
    • 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2013
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
PROPERTY LISTING DETAILS
Jim Bottrell
Ardent Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 200039193
Last Updated: 08/25/2020
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