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35613 Country Park Drive Wildomar, CA 92595

5 Beds 3 Baths 2,635 sqft Built 2002

$589,900

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $223.87
  • 10 Days on Market
  • MLS # : ND21050670
  • Updated Date : 03/20/2021 at 08:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,635 sqft
  • Baths : 3 full
Listing Agent

Pacific Sotheby's Int'l Realty

Listing Agent's Description

Beautiful Wildomar Residence with Great Curb Appeal on a Large View Lot! Inviting Covered Porch Leads to Impressive Entry with Cathedral Ceilings in Living Room and Formal Dining Room. Upgraded Kitchen Opens to Spacious Family Room. Kitchen Includes Elegant Quartz Counters, Stunning Backsplash, Center Island with Breakfast Bar and Cozy Breakfast Nook. Wonderful Backyard with Beautiful Views of the Neighboring Hills. Large Backyard Includes Large Patio and Above Ground Spa for those Stargazing Nights. Master Suite is located on the Main Floor, along with two other bedrooms and another full bathroom. Upstairs Includes two more bedrooms, bathroom and a large Loft/Bonus Room. Laundry Room with Sink. Spacious Three Car Garage Includes Electric/Tesla Car Charger. RV Parking for your Toys! Low Property Tax Rate and Low HOAs. Photos Coming Soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$530,910$648,890$589,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,049
Property Tax -$523
Property Insurance -$91
HOA -$51
Property Management Fees -$146
CASH FLOW
-$381

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.

$589,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.42%

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$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,074

INVESTMENT

$162,074

Down Payment
$147,475
Rehab Estimate
$5,750
Closing Costs
$8,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,049

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,475
Loan Amount $442,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,675

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4803$2,6504$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 35613 Country Park Drive Wildomar, CA 2
    • 5 beds 3 baths ∙ 2,635 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,635 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.94
    •  
  • 35505 Country Park Drive Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
  • 23594 Millstone Place Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.03
    •  
  • 35706 Verde Vista Way Wildomar, CA 4
    • 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
  • 35125 El Diamante Drive Wildomar, CA 5
    • 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,890 Sqft ∙ Built 2002
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.99
    •  
PROPERTY LISTING DETAILS
Jana Farella
Pacific Sotheby's Int'l Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: ND21050670
Last Updated: 03/20/2021
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