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36467 Geranium Lake Elsinore, CA 92532

4 Beds 3 Baths 2,249 sqft Built 2015

$558,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $248.11
  • 5 Days on Market
  • MLS # : OC21149509
  • Updated Date : 07/11/2021 at 20:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 3 full
Listing Agent

Mei Zhou, Broker

Listing Agent's Description

Beautiful upgraded turn key home in the well desirable Canyon Hills Community! This 2,249 square foot 4 bedroom 3 bath home with a full bedroom and 3/4 bath downstairs. Chef's kitchen with large granite island and a lots of storages. Both front and backyard are professional landscaped and made it is so attractive. Large space with covered patio is perfect for you to relax or to entertain your guests. This home is truly a must see!! Close distance to elementary school, 3 community pools, spa, splash pad, 2 parks (and sports park). One of top 50 master planned communities in US.

SEE MORE

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: 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
 

$502,200$613,800$558,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,938
Property Tax -$525
Property Insurance -$82
HOA -$119
Property Management Fees -$144
CASH FLOW
-$367

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.

$558,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.44%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,620

INVESTMENT

$153,620

Down Payment
$139,500
Rehab Estimate
$5,750
Closing Costs
$8,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,500
Loan Amount $418,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,704

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,6003$2,7004$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 36467 Geranium Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.08
    •  
  • 36467 Geranium Drive Lake Elsinore, CA 2
    • 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
    •  
  • 24610 Comanche Creek Drive Menifee, CA 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 2018
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.19
    •  
  • 35146 Fennel Lane Lake Elsinore, CA 4
    • 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
    •  
  • 34149 Dianthus Lane Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,257 Sqft ∙ Built 2012
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.24
    •  
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 #: OC21149509
Last Updated: 07/11/2021
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