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35243 Angel Falls Drive Lake Elsinore, CA 92532

4 Beds 3 Baths 2,257 sqft Built 2013

$450,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $199.38
  • 3 Days on Market
  • MLS # : PW20255423
  • Updated Date : 12/11/2020 at 15:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,257 sqft
  • Baths : 3 full
Listing Agent

Tres Real Estate

Listing Agent's Description

This is a beautiful home that has 4 bedrooms and 3 bathrooms. This property is the second to last lot at the end in a cull-de-sac. There are wonderful community amenities, Including Community Pool, Park and fields. Spacious and open kitchen with connecting dining and family room. Large windows and sliding glass door that connects to the back and let a good amount of light in. Two car garage with independent laundry room. One of the bedrooms and bath is located on the first floor. Two spacious bedroom and a common full bathroom start the 2nd floor but the Master Bedroom is the true highlight. The Master Bathroom has both a shower and soaking tub for those relaxing nights. Just wait to see the walk in closet......Please note HOA Monthly fee of $118.50 and Mello Roose Tax approx 1.17% additional....(agent to complete due diligence)....

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,660
Property Tax -$423
Property Insurance -$82
HOA -$119
Property Management Fees -$135
CASH FLOW
-$129

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.

$450,000

PROJECTED PRICE

$2,290

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$21,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,2904$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 35243 Angel Falls Drive Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.01
    •  
  • 34138 Camelina Street Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2010
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 34089 Dianthus Lane Lake Elsinore, CA 2
    • 4 beds 4 baths ∙ 2,133 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,133 Sqft ∙ Built 2011
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.01
    •  
  • 34076 Corktree Road Lake Elsinore, CA 4
    • 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
    •  
  • 36467 Geranium Drive Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
PROPERTY LISTING DETAILS
Chuck Kantathavorn
Tres Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20255423
Last Updated: 12/11/2020
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