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PROPERTY INFO
FACTS
- Single Family
- Built In 2008
- Price/Sqft : $192.94
- 8 Days on Market
- MLS # : IG21015733
- Updated Date : 01/26/2021 at 10:26
CONSTRUCTION
- Beds : 5
- Floor Size : 2,876 sqft
- Baths : 2 full
Listing Agent
Active Realty
Listing Agent's Description
Beautiful 5 bedroom, 2.75 bathroom, 2 story home with a main floor bedroom in the Estrella Hills Community of Wildomar! Enjoy a formal entry to high ceilings, an inviting fireplace, and an open floor plan. The kitchen features granite countertops, stainless steel appliances, and travertine flooring. Upstairs features include a large bonus room, the primary bedroom with a walk-in closet, dual sinks in the primary bathroom, a separate soaking tub, and shower. Additional property highlights include sliding doors to the spacious back yard, inside laundry room, 3 car garage, and low HOA. Convenient to area schools, shopping plazas, and easy access to major freeways!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,450 |
| EXPENSES | Loan Payment | -$1,927 |
| Property Tax | -$492 | |
| Property Insurance | -$97 | |
| HOA | -$84 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$295
|
||
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.
$554,900
PROJECTED PRICE
$2,450
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$152,799
LOAN DETAILS
$1,927
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $138,725 |
| Loan Amount | $416,175 |
2.75
YEARS SAVED
$12,331
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,450
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$2,696
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
35972 Carlton Road Wildomar, CA 2
- 5 beds 2 baths ∙ 2,876 Sqft ∙ Built 2008 5 beds 2 baths ∙ 2,876 Sqft ∙ Built 2008
- Rent
- Rent Per SQFT
- $2,450
- $0.85
-
40760 Robards Way Murrieta, CA 1
- 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,400
- $0.86
-
35706 Verde Vista Way Wildomar, CA 3
- 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006
LEASED 12/10/20- Rent
- Rent Per SQFT
- $2,700
- $0.99
-
40886 Bouvier Court Murrieta, CA 4
- 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002
LEASED 08/11/20- Rent
- Rent Per SQFT
- $2,750
- $0.95
-
24721 Satinwood Lane Wildomar, CA 5
- 4 beds 4 baths ∙ 3,153 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,153 Sqft ∙ Built 2016
LEASED 10/13/20- Rent
- Rent Per SQFT
- $2,990
- $0.95
PROPERTY LISTING DETAILS
Active Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21015733
Last Updated: 01/26/2021
