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36381 Verbena Road Lake Elsinore, CA 92532

4 Beds 3 Baths 2,502 sqft Built 2015

$518,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $207.03
  • 5 Days on Market
  • MLS # : SW21049833
  • Updated Date : 03/12/2021 at 18:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,502 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Assoc.brks-cl

Listing Agent's Description

Check out this beautiful 2 story home located in the highly desired community of Canyon Hills. This home features 4 beds, 3 baths & a 3 car tandem garage. One BEDROOM & BATHROOM is located on the main floor. Upon entering the home, you are immediately drawn to the natural lighting provided by the large windows. On the main floor you will find a large family room that opens to the kitchen. This spacious kitchen has plenty of storage & cabinet space and is equipped with stainless steel appliances & a large granite counter island. Upstairs you find the master bedroom overlooking hillside views, a huge walk-in closet, a soaking tub & walk in shower. There are two well sized bedrooms down the hall that share a bathroom with dual sinks. Additional upgrades include a water softener system for the entire home, leased solar panels, automatic sprinklers, patio w/ drip system for those who enjoy gardening, mature fruit trees, custom built-in BBQ island with built-in refrigerator, concrete throughout the backyard & your own private hot tub spa. This home has been well maintained by original owners and the backyard is an entertainer’s dream! This home is situated in the perfect location, walking distance from Herk Bouris Elementary School, Christensen Park & the newly built community pool! Canyon Hills offers low HOA with resort style amenities that include: Tennis court, parks, hiking trails, basketball court, baseball field, soccer field & 3 community pools. This home is truly turnkey.

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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: Canyon Hills

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k485k

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

Neighborhood: Canyon Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10512469

* 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
Herk Bouris Elementary School Primary Unknown 787 32 8
Menifee Valley Middle School Middle Regular 1,006 40 6
Paloma Valley High School High Regular 2,844 101 6

Herk Bouris Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 32
8
GreatSchools Rating

Menifee Valley Middle School

  • Education Level: Middle
  • # of students: 1,006
  • # of teachers: 40
6
GreatSchools Rating

Paloma Valley High School

  • Education Level: High
  • # of students: 2,844
  • # of teachers: 101
6
GreatSchools Rating
 

$466,200$569,800$518,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,799
Property Tax -$487
Property Insurance -$88
HOA -$118
Property Management Fees -$145
CASH FLOW
-$187

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.

$518,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.1%
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$143,020

INVESTMENT

$143,020

Down Payment
$129,500
Rehab Estimate
$5,750
Closing Costs
$7,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,500
Loan Amount $388,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,682

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
  • $0.98

    LIST RENT PER SQFT
  • $2,658

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5554$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 36381 Verbena Road Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 25218 Wild View Road Menifee, CA 2
    • 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,323 Sqft ∙ Built 2014
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
  • 36401 Verbena Road Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2015
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,555
    • $1.02
    •  
  • 36467 Geranium Drive Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
  • 34093 Lady Fern Court Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,835 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,835 Sqft ∙ Built 2007
    property image
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Ivy Quintana-martinez
Coldwell Banker Assoc.brks-cl
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21049833
Last Updated: 03/12/2021
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