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36412 Tenino Court Lake Elsinore, CA 92532

4 Beds 3 Baths 2,113 sqft Built 2014

$508,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $240.42
  • 4 Days on Market
  • MLS # : OC21034109
  • Updated Date : 02/18/2021 at 22:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,113 sqft
  • Baths : 3 full
Listing Agent

Mei Zhou, Broker

Listing Agent's Description

Immaculate former Model home in master planed Canyon Hills community. Located on a CUL-DE-SAC, many upgrades including beautiful tile flooring throughout the first floor; Chef inspired kitchen with granite counter topes, stainless steel appliance, 2 pantry's, Pendant lighting and upgraded tile backsplash; upgraded window treatments, open amazing views in family room; comfortable size downstairs bedroom and bathroom; Large Master bedroom with beautiful views; upgraded laundry room with upgraded utility sink; large professional backyard with no neighbors behind; Solar panel paid off; very close to resort style community pool and elementary school---Must see

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$457,200$558,800$508,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,764
Property Tax -$478
Property Insurance -$78
HOA -$119
Property Management Fees -$137
CASH FLOW
-$256

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.

$508,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.46%

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$140,370

INVESTMENT

$140,370

Down Payment
$127,000
Rehab Estimate
$5,750
Closing Costs
$7,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,000
Loan Amount $381,000
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$11,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,441

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,2503$2,3204$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 36412 Tenino Court Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,113 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.10
    •  
  • 34115 Dianthus Lane Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2012
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.09
    •  
  • 34230 Baja Court Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,954 Sqft ∙ Built 2006
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.15
    •  
  • 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
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
  • 35146 Fennel Lane Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2013
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Mei Zhou
Mei Zhou, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21034109
Last Updated: 02/18/2021
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