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36431 Geranium Drive Lake Elsinore, CA 92532

3 Beds 2 Baths 1,631 sqft Built 2015

$424,900

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $260.52
  • 6 Days on Market
  • MLS # : IG20228310
  • Updated Date : 10/29/2020 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,631 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

***HIGHLY UPGRADED*** THIS IS THE ONE! Spectacular, single story, corner lot Canyon Hills home! This home boasts 3 bedrooms and 2 bathrooms, 2-car garage, and an above garage attic space that can be used as a 4th bedroom, game room, or just storage! Beautifully upgraded cabinets, tons of storage space, large island, upgraded stainless steel appliances, and granite counter tops adorn this chef grade kitchen. You'll also appreciate the upgraded wood laminate flooring throughout all the living areas! The backyard comes fully landscaped with grass area, fire pit, and a built in patio cover! This home is within walking distance to the elementary school and many of the things that the community of Canyon Hills has to offer, including, natural parks, recreation areas, hiking trails, pool, spa, splash pad, basketball court, tennis court, picnic areas, and much more for your enjoyment. Once you step into this beauty you'll know you're right at home!

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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
 

$382,410$467,390$424,900

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,568
Property Tax -$400
Property Insurance -$67
HOA -$119
Property Management Fees -$126
CASH FLOW
-$148

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.

$424,900

PROJECTED PRICE

$2,130

PROJECTED RENT

0.50%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$17,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1303$2,2004$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 36431 Geranium Drive Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,631 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.31
    •  
  • 34030 Corktree Road Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2011
    LEASED 05/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.24
    •  
  • 36251 Pursh Drive Lake Elsinore, CA 3
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2014
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 34230 Baja Court Lake Elsinore, CA 4
    • 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
    •  
  • 35215 Caraway Court Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,963 Sqft ∙ Built 2014
    LEASED 05/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.17
    •  
PROPERTY LISTING DETAILS
Oscar Tortola
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20228310
Last Updated: 10/29/2020
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