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4071 Tamarind Lake Elsinore, CA 92530

4 Beds 2 Baths 1,948 sqft Built 2017

$450,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $231.01
  • 8 Days on Market
  • MLS # : PW20227149
  • Updated Date : 10/30/2020 at 10:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,948 sqft
  • Baths : 2 full
Listing Agent

T.n.g. Real Estate Consultants

Listing Agent's Description

Gorgeous Alberhill Ranch community, energy efficient home. Enter into the spacious great room with attached kitchen and grand island, where you can host large gatherings and prepare meals, while never missing a thing. Enjoy the custom craftsmanship on the walls that are unlike any other. This adds such a beautiful touch of character to the home. There's a custom barn door that's been added to the entry way of the den that can be used as an additional room or office. Outside, the backyard features vinyl fencing and covered patio with outdoor fans, with lots of privacy and room for parties. The community offers many amenities including; Olympic size pool, kiddie pool, splash pad, sports park, clubhouse and playgrounds. You won't want to miss this one!

SEE MORE

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: 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,660
Property Tax -$438
Property Insurance -$74
HOA -$140
Property Management Fees -$129
CASH FLOW
-$252

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.

$450,000

PROJECTED PRICE

$2,190

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

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$11,646

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,162

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,1903$2,2004$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 4071 Tamarind Lake Elsinore, CA 2
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.12
    •  
  • 16498 Antelope Street Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,003 Sqft ∙ Built 2003
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $1.07
    •  
  • 3852 Ash Street Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2005
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 4103 Ballantree Street Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,147 Sqft ∙ Built 2011
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.07
    •  
  • 4170 Cypress Circle Lake Elsinore, CA 5
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2016
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
PROPERTY LISTING DETAILS
Katrina Van Hoff
T.n.g. Real Estate Consultants
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20227149
Last Updated: 10/30/2020
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