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36652 Summer Dain Lane Wildomar, CA 92595

3 Beds 2 Baths 1,946 sqft Built 2015

$535,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $274.92
  • 3 Days on Market
  • MLS # : SW21051299
  • Updated Date : 03/19/2021 at 11:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Single Story? Check! Smart Home? Check! Corner Lot? Check! Salt Water Pool & Spa? Check! Beautiful Interior? Check! Solar? Check! Welcome home to the Briarwood community located in Wildomar, one of the cities that encompasses the Temecula Valley. This newer build, stone-faced home is completely turnkey! Inside you'll find a neutral color palette with wood grain tile floors, a gas fireplace with mantle, and a beautiful shiplap accent wall in the family room. The kitchen is bright and open with a large island that can seat 6 along with a large stainless steel sink in the island & pendant lighting above. You'll find stainless steel appliances, a double oven, a 5-burner gas cooktop, & a walk-in pantry. The master bedroom features a spacious walk-in closet. In the master bath, you'll find his & hers sinks, a make-up vanity, a soaking tub, and a separate shower. Heading out to the garage you'll find a built-in office area, the laundry room, and an expansive storage area. This is a Nexia-controlled smart home that controls the thermostat, the front door lock, the garage door & the lights in the home. The sparkling pool & spa is also smart-controlled by ScreenLogic. There is also a tankless water heater, a water conditioner, garage racks & vinyl fencing to surround the home. Your rear neighbors are below you so you have ample privacy in your backyard oasis.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Wildomar

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k529k

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

Neighborhood: Wildomar

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10782398

* 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
Donald Graham Elementary School Primary Regular 515 23 4
David A. Brown Middle School Middle Regular 1,010 41 4
Elsinore High School High Regular 2,125 90 5

Donald Graham Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 23
4
GreatSchools Rating

David A. Brown Middle School

  • Education Level: Middle
  • # of students: 1,010
  • # of teachers: 41
4
GreatSchools Rating

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,858
Property Tax -$475
Property Insurance -$74
HOA -$156
Property Management Fees -$124
CASH FLOW
-$587

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.

$535,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$792

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,4004$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 36652 Summer Dain Lane Wildomar, CA 1
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
  • 24536 Teakwood Court Wildomar, CA 2
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 2017
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.10
    •  
  • 35505 Country Park Drive Lake Elsinore, CA 3
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
  • 40918 Bouvier Court Murrieta, CA 4
    • 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 2002
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.10
    •  
  • 24982 Pasture Court Wildomar, CA 5
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2003
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
PROPERTY LISTING DETAILS
Adam Nelson
Signature Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21051299
Last Updated: 03/19/2021
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