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35600 Balsam Street Wildomar, CA 92595

4 Beds 2 Baths 2,117 sqft Built 1990

$430,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $203.12
  • 4 Days on Market
  • MLS # : SW20250053
  • Updated Date : 12/03/2020 at 14:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,117 sqft
  • Baths : 2 full
Listing Agent

Big Block Realty

Listing Agent's Description

Highly desirable, single story, conveniently located in Wildomar near Murrieta border. Freeway access, dining, shopping and entertainment all within close proximity. Double door entry to living room/ dining area and just beyond, separate great room area consisting of kitchen (with stainless steel appliances, large, single trough stainless steel sink, updated stone counter tops and white cabinets), eat in kitchen area, family room (with whitewashed brick mantle, gas fireplace & glass slider access to back yard) and bonus built-in desk area with overhead sky light, that floods home with natural light. 4 ample sized bedroom, including large master suite, complete with dual sink vanity master en suite bath, offering large, glass enclosed shower and walk-in closet. Both master and guest bathroom are updated with stone counters. Master bedroom includes glass slider with direct access to back yard. Wood deck with seating area and patio cover makes this back yard great spot for enjoying, along with mature fruit trees. 3 car garage has direct access into home through inside laundry room. Wood laminate flooring throughout, except for tile bathroom floors and carpeted bedroom areas.

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
 

$387,000$473,000$430,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,587
Property Tax -$485
Property Insurance -$78
Property Management Fees -$131
CASH FLOW
-$61

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.

$430,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.52%

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

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$26,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,334

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2203$2,3254$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 35600 Balsam Street Wildomar, CA 2
    • 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.05
    •  
  • 35606 Aster Drive Wildomar, CA 1
    • 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,117 Sqft ∙ Built 1990
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 35850 Frederick Street Wildomar, CA 3
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 1999
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.17
    •  
  • 23221 Harbor Seal Court Wildomar, CA 4
    • 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,983 Sqft ∙ Built 2001
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.19
    •  
  • 35614 Wanki Avenue Wildomar, CA 5
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
PROPERTY LISTING DETAILS
Christopher Brown
Big Block Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20250053
Last Updated: 12/03/2020
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