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53009 Bantry Bay Street Lake Elsinore, CA 92532

4 Beds 2 Baths 2,322 sqft Built 2013

$425,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $183.03
  • 4 Days on Market
  • MLS # : OC21014575
  • Updated Date : 02/06/2021 at 09:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,322 sqft
  • Baths : 2 full
Listing Agent

Re/max Terrasol

Listing Agent's Description

4 Bedroom, 2 Bathroom house in the desirable Rosetta Canyon. Open floor plan invites natural light in from every room. This home features a large great room concept with kitchen island, dining area and living/family room. Large master bedroom and private bath with shower, bath tub and dual sink. Separate indoor laundry room, coat closet, linen closet... Sprinkler system on the front lawn. Fire sprinkler! Solar already paid for, minimum electric bill! Open concrete patio with wrap around side walk and plant area is waiting for you to create your own garden. More pictures to come.

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: 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,476
Property Tax -$400
Property Insurance -$83
HOA -$79
Property Management Fees -$123
CASH FLOW
-$81

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.

$425,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.49%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$19,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0803$2,1504$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 53009 Bantry Bay Street Lake Elsinore, CA 2
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.90
    •  
  • 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
    •  
  • 45019 Sonia Drive Lake Elsinore, CA 5
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2005
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
PROPERTY LISTING DETAILS
My Lenguyen
Re/max Terrasol
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014575
Last Updated: 02/06/2021
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