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35322 Prairie Road Wildomar, CA 92595

4 Beds 3 Baths 2,440 sqft Built 1990

$440,500

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $180.53
  • 8 Days on Market
  • MLS # : IG20235331
  • Updated Date : 11/10/2020 at 17:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,440 sqft
  • Baths : 3 full
Listing Agent

O/neill Realty & Property Mgmt

Listing Agent's Description

You’ll Love this Beauty! Spacious and Pretty. Enter through the front door into this open floor plan with a living room that adjoins the dining room and wraps around into the kitchen and dining area and continues on into the family room,where you can have a cozy fire in your fireplace. Downstairs has beautiful tile flooring and the windows bring a brightness when the sun is shining. Vaulted ceilings make this already large home seem even more spacious when you look up the staircase. The Kitchen is a joy to cook in and this home is an entertainers dream. The stainless steel Stove, dishwasher and microwave make these white cabinets with black counters look dazzling! You can have family or friends over and there is plenty of room for chatting in the kitchen or hanging out on the patio with it’s wonderful custom cover. One bedroom and bath downstairs and Upstairs a large master with the en-suite that has a separate tub and shower. The hall bath has a new tub and enclosure and two other bedrooms-one perfect if you are a Lakers fan. The three car garage completes this home and laundry hookups in the garage complete with Washer and dryer. The backyard is a blank canvas, waiting for the perfect buyer to make it their masterpiece.

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: Windsong Valley

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Windsong Valley

ZipNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200Rent in $10822247

* 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
Donald Graham Elementary School Primary Regular 515 23 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Donald Graham Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 23
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
 

$396,450$484,550$440,500

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,625
Property Tax -$497
Property Insurance -$86
Property Management Fees -$143
CASH FLOW
$78

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.

$440,500

PROJECTED PRICE

$2,430

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 5.4%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,483

INVESTMENT

$122,483

Down Payment
$110,125
Rehab Estimate
$5,750
Closing Costs
$6,608

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,625

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,125
Loan Amount $330,375
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$42,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,428

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,3504$2,4305$2,500
$2,500
RENT COMPS ANALYSIS
  • 35322 Prairie Road Wildomar, CA 4
    • 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,440 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.00
    •  
  • 35606 Aster Drive Wildomar, CA 1
    • 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 35325 Billie Ann Road Wildomar, CA 2
    • 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,250 Sqft ∙ Built 1990
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.98
    •  
  • 35614 Wanki Avenue Wildomar, CA 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
  • 22975 Timber Ridge Court Wildomar, CA 5
    • 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,639 Sqft ∙ Built 2004
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Nancy Orozco
O/neill Realty & Property Mgmt
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20235331
Last Updated: 11/10/2020
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