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53024 Bantry Bay Street Lake Elsinore, CA 92532

4 Beds 3 Baths 2,921 sqft Built 2007

$455,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $155.77
  • 11 Days on Market
  • MLS # : IV21027638
  • Updated Date : 02/20/2021 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,921 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome to this beautiful 4 bed, 3bath + loft home in the highly sought after Rosetta Canyon Community!!! This is a great opportunity to live in a well-established neighborhood and own one of the best homes on the block. This home has been well cared for and it shows. Step inside and you are greated with high ceilings and tons of natural light which give the home a very open and flowing look. As soon as you enter you have a great room with a formal sitting and dining area. As you continue, you'll see the gourment kitchen with granite countertops and kitchen island. The kitchen faces the open family room with fireplace and also looks out to a private covered backyard with a stamped concrete patio, alumawood patio cover and best of all, a low maintenance backyard. The bottom floor is complete with its own office space which can be used as an office or another bedroom. The upstairs of the home features a large wide stairway that leads to a spacious loft, the upstairs laundry room and 3 bedrooms and 2 more bathrooms. The Master Bedroom has a master bath with dual sinks, walk in closet and separate tub and shower.... this is a great home!! Surrounded by great mountain views and very close to major freeways, schools, shopping and restaurants... this home is in the perfect location. With a low hoa and nice amenities such as a playground and park area, this is a very well kept community. Call to schedule your private tour today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$409,500$500,500$455,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,580
Property Tax -$428
Property Insurance -$98
HOA -$78
Property Management Fees -$128
CASH FLOW
-$142

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.

$455,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.48%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$16,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,359

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,3503$2,3954$2,4255$2,700
$2,700
RENT COMPS ANALYSIS
  • 53024 Bantry Bay Street Lake Elsinore, CA 1
    • 4 beds 3 baths ∙ 2,921 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,921 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.74
    •  
  • 53015 Sweet Juliet Lane Lake Elsinore, CA 2
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2006
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.78
    •  
  • 45012 Sonia Drive Lake Elsinore, CA 3
    • 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
  • 45022 Sonia Drive Lake Elsinore, CA 4
    • 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.79
    •  
  • 53209 Iceberg Street Lake Elsinore, CA 5
    • 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,081 Sqft ∙ Built 2006
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
PROPERTY LISTING DETAILS
Marisa Fletcher
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21027638
Last Updated: 02/20/2021
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