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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $270.82
- 3 Days on Market
- MLS # : IG20244383
- Updated Date : 11/20/2020 at 18:34
CONSTRUCTION
- Beds : 3
- Floor Size : 1,532 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
THIS IS THE ONE! Spectacular UPGRADED, corner lot single story, Canyon Hills home! This home boasts 3 bedrooms and 2 bathrooms, open concept living area w/ 9ft. ceilings, and a 2-car garage! Beautifully upgraded cabinets w/ brushed nickel hardware, tons of storage space, large island, stainless steel appliances, and granite counter tops adorn this chef grade kitchen. You'll also appreciate the upgraded tile flooring throughout the living areas and bedrooms, and blinds throughout! The ample sized backyard comes fully landscaped, with artificial turf, patio cover, planters, and a large side yard! 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, parks, recreation areas, hiking trails, pools, spas, splash pad, basketball courts, tennis courts, picnic areas, and much more for your enjoyment.
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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: Canyon Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Canyon Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,910 |
| EXPENSES | Loan Payment | -$1,531 |
| Property Tax | -$390 | |
| Property Insurance | -$64 | |
| HOA | -$119 | |
| Property Management Fees | -$113 | |
|
CASH FLOW
-$307
|
||
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.
$414,900
PROJECTED PRICE
$1,910
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$115,699
LOAN DETAILS
$1,531
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $103,725 |
| Loan Amount | $311,175 |
2
YEARS SAVED
$6,594
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,910
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$1,919
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
36692 Coleus Way Lake Elsinore, CA 1
- 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2015
![property image]()
- Rent
- Rent Per SQFT
- $1,910
- $1.25
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30020 Skipjack Canyon Lake, CA 2
- 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1996
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LEASED 08/30/19- Rent
- Rent Per SQFT
- $2,000
- $1.25
-
34182 Carissa Drive Lake Elsinore, CA 3
- 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2013
![property image]()
LEASED 09/01/19- Rent
- Rent Per SQFT
- $2,100
- $1.29
-
30137 Skipjack Drive Canyon Lake, CA 4
- 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 1998
![property image]()
LEASED 03/25/20- Rent
- Rent Per SQFT
- $2,100
- $1.16
-
35142 Sorrel Lane Lake Elsinore, CA 5
- 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,760 Sqft ∙ Built 2013
![property image]()
LEASED 05/31/19- Rent
- Rent Per SQFT
- $2,300
- $1.31
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20244383
Last Updated: 11/20/2020
