Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4044 Ash Street Lake Elsinore, CA 92530

4 Beds 3 Baths 2,995 sqft Built 2005

$517,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $172.62
  • 7 Days on Market
  • MLS # : SW21010844
  • Updated Date : 01/18/2021 at 14:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Corcoran Global Living

Listing Agent's Description

Amazing home located in the desired Alberhill Ranch Community. This 4 bedroom 3 bath is perfect for entertaining friends and family. As soon as you walk in you enter the formal living room which has a fireplace. As you continue down the hallway you will enter the gourmet kitchen with granite counters, white cabinets, and an island. There is also a breakfast nook perfect for your relaxing mornings. All of the rooms are located upstairs and have enough room to fit all of your belongings. The master suite has a walk-in closet with a tub and shower combo. Everything about this property is a must see.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Alberhill District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k631k

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

Neighborhood: Alberhill District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10512496

* 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
Machado Elementary School Primary Regular 709 28 2
Terra Cotta Middle School Middle Regular 1,126 43 3
Lakeside High School High Regular 1,973 87 5

Machado Elementary School

  • Education Level: Primary
  • # of students: 709
  • # of teachers: 28
2
GreatSchools Rating

Terra Cotta Middle School

  • Education Level: Middle
  • # of students: 1,126
  • # of teachers: 43
3
GreatSchools Rating

Lakeside High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 87
5
GreatSchools Rating
 

$465,300$568,700$517,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,796
Property Tax -$504
Property Insurance -$100
HOA -$140
Property Management Fees -$148
CASH FLOW
-$177

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.

$517,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,755

INVESTMENT

$142,755

Down Payment
$129,250
Rehab Estimate
$5,750
Closing Costs
$7,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,796

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,250
Loan Amount $387,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$16,984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,576

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,510
$2,510
RENT COMPS ANALYSIS
  • 4044 Ash Street Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.84
    •  
  • 15488 Solstice Ct Lake Elsinore, CA 1
    • 5 beds 3 baths ∙ 2,721 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,721 Sqft ∙ Built 2005
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
PROPERTY LISTING DETAILS
Salvador Correa
Corcoran Global Living
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21010844
Last Updated: 01/18/2021
BESbswy