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35278 Portola Place Wildomar, CA 92595

5 Beds 3 Baths 2,890 sqft Built 2001

$524,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $181.63
  • 4 Days on Market
  • MLS # : SW20234098
  • Updated Date : 11/06/2020 at 17:52
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,890 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Res-vail Ranch

Listing Agent's Description

JUST LISTED Enjoy this beautiful luxury home in The Ridge Community, the sought-after area in Wildomar along Wildomar Trail. From this location you will enjoy quick access to Murrieta and Temecula Wine Country! The entry boasts soaring ceilings and an impressive formal entertainment area. Four bedrooms plus an enclosed loft makes the fifth room ideal as an office. There is one bedroom and a bath downstairs. Beautiful main suite opposite upstairs banister that overlooks the formal living area. The spacious kitchen has a walk-in pantry, loads of cabinets, and opens up to a large cozy family room. Off the kitchen is a large outdoor patio area all covered by an Aluma-wood patio cover providing excellent shade indoors and out. The large backyard is ready for your pool. Plenty of room for toys and projects in a large three-car garage plus a large pad for other recreational toys. Low Taxes and HOA.

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Wildomar

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Wildomar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10782398

* 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
Ronald Reagan Elementary School Primary Regular 709 30 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Ronald Reagan Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 30
4
GreatSchools Rating

David A. Brown Middle School

  • Education Level: Middle
  • # of students: 1,010
  • # of teachers: 41
4
GreatSchools Rating

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,937
Property Tax -$630
Property Insurance -$97
HOA -$48
Property Management Fees -$139
CASH FLOW
-$491

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.

$524,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,399

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3603$2,4504$2,4505$2,700
$2,700
RENT COMPS ANALYSIS
  • 35278 Portola Place Wildomar, CA 2
    • 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.82
    •  
  • 24839 Kentman Court Wildomar, CA 1
    • 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,999 Sqft ∙ Built 2004
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 36024 Lipizzan Lane Wildomar, CA 3
    • 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,967 Sqft ∙ Built 2005
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
  • 24036 Esmeralda Court Wildomar, CA 4
    • 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 2002
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.85
    •  
  • 24125 Montecito Drive Wildomar, CA 5
    • 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
PROPERTY LISTING DETAILS
Robert Bodemer
Coldwell Banker Res-vail Ranch
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20234098
Last Updated: 11/06/2020
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