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

41010 Langerfield Court Lake Elsinore, CA 92532

3 Beds 3 Baths 2,579 sqft Built 2006

$499,999

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $193.87
  • 6 Days on Market
  • MLS # : DW21011346
  • Updated Date : 01/23/2021 at 21:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,579 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Masters

Listing Agent's Description

GORGEOUS ENTERTAINERS DREAM HOME! THIS 3 BEDROOM HOME HAS SOME MANY WONDERFUL FEATURES. KITCHEN INCLUDES DINING ELL, KITCHEN ISLAND WITH SINK, NEW CABINETS AND STAINLESS STEEL APPLIANCES. DOWNSTAIRS YOU HAVE A SEPARATE ROOM COULD BE A DEN OR EASILY BE CONVERTED TO A 4TH BEDROOM. THE LARGE MASTER SUITE HAS WALK-IN CLOSET & BURBER CARPET. THE MASTER BATH INCLUDES DRESSING AREA, VANITY AREA, LARGE TUB AND SEPARATE SHOWER. UPSTAIRS YOU HAVE YOUR OWN OFFICE SPACE WITH BUILT-IN DESK & DRAWERS. FIREPLACE IN LIVING ROOM, THERE ARE PLANTATION SHUTTERS AND RECESSED LIGHTING THROUGHOUT. SEPARATE LAUNDRY ROOM. THEN YOU WILL BE AMAZED BY THE OUTDOOR SPACE IN THE BACKYARD. THERE IS A COVERED OUTDOOR KITCHEN AREA WITH BUILT-IN BBQ. SINK AND LOTS OF GRANITE COUNTER SPACE. THERE ARE TWO SEPARATE GRASS (TURF) AREAS, BUT THE MAIN FOCAL POINT IS THE ROCK WATERFALL AND POND AREA WHICH INCLUDES BUILT-IN SEATING AND BIG SLAB AREA FOR DANCING OR WHATEVER COMES TO MIND, OWNER SPENT OVER $160K IN UPGRADES. NICELY LANDSCAPED FRONT & BACK. 2 CAR GARAGE WITH DIRECT ACCESS.

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: Rosetta Canyon

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k485k

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

Neighborhood: Rosetta Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100Rent in $10512132

* 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
Earl Warren Elementary School Primary Regular 889 34 5
Elsinore Middle School Middle Magnet 790 33 3
Temescal Canyon High School High Regular 2,172 89 7

Earl Warren Elementary School

  • Education Level: Primary
  • # of students: 889
  • # of teachers: 34
5
GreatSchools Rating

Elsinore Middle School

  • Education Level: Middle
  • # of students: 790
  • # of teachers: 33
3
GreatSchools Rating

Temescal Canyon High School

  • Education Level: High
  • # of students: 2,172
  • # of teachers: 89
7
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,737
Property Tax -$471
Property Insurance -$90
HOA -$80
Property Management Fees -$122
CASH FLOW
-$438

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.

$499,999

PROJECTED PRICE

$2,060

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,229

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0603$2,1504$2,2005$2,375
$2,375
RENT COMPS ANALYSIS
  • 41010 Langerfield Court Lake Elsinore, CA 2
    • 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,579 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.80
    •  
  • 45020 Anabell Lane Lake Elsinore, CA 1
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 39762 Strada Firenze Lake Elsinore, CA 3
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2017
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 53009 Sweet Juliet Lane Lake Elsinore, CA 4
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 41005 Crimson Pillar Lane Lake Elsinore, CA 5
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2006
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeanet Salazar
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21011346
Last Updated: 01/23/2021
BESbswy