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35944 Devonshire Lane Wildomar, CA 92595

4 Beds 3 Baths 2,315 sqft Built 2004

$599,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $258.75
  • 3 Days on Market
  • MLS # : SW21052264
  • Updated Date : 03/13/2021 at 08:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,315 sqft
  • Baths : 3 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

** Beautiful views on large pool size lot. Don’t miss out on this fabulous single story cul-de-sac home. 4 bedrooms 3 baths. Open concept kitchen/family room with large island. Formal living and dining room great for entertaining. Upgraded shutters. 3 car garage with storage. In the backyard there are no nearby neighbors obstructing the views. Covered patio and sitting area with a wonderful fruit bearing tree

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: 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
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$2,081
Property Tax -$720
Property Insurance -$83
HOA -$99
Property Management Fees -$141
CASH FLOW
-$734

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.

$599,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.40%

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-$15k-$10k-$5.0k$0.0$5.0k

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$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,081

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,535

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4003$2,5004$2,6005$2,850
$2,850
RENT COMPS ANALYSIS
  • 35944 Devonshire Lane Wildomar, CA 1
    • 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,315 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.03
    •  
  • 35505 Country Park Drive Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
  • 23792 Castinette Way Murrieta, CA 3
    • 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 24982 Pasture Court Wildomar, CA 4
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2003
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
  • 40463 Jennings Drive Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Timothy Harris
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21052264
Last Updated: 03/13/2021
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