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749 Acacia Street Lake Elsinore, CA 92530

3 Beds 2 Baths 1,517 sqft Built 2007

$440,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $290.05
  • 7 Days on Market
  • MLS # : DW21004524
  • Updated Date : 01/18/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,517 sqft
  • Baths : 2 full
Listing Agent

Century 21 Allstars

Listing Agent's Description

This cozy 3 bedroom home is nestled at the back of this large lot over 6900 SF. Front of home has a pergola covering the front entrance to the private 1516 square foot home hidden behind the garage. This beautiful home has central air, open floor plan and is less than 5 minutes to the newly remodeled Launch. If you are looking for a home with quick access to the lake and close access to the Outlets at Lake Elsinore then this home is perfect for you and your family.

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: Country Club Heights East

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $88k459k

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

Neighborhood: Country Club Heights East

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280090010001100120013001400150016001700180019002000Rent in $7332078

* 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
Railroad Canyon Elementary School Primary Regular 686 29 3
Elsinore Middle School Middle Magnet 790 33 3
Elsinore High School High Regular 2,125 90 5

Railroad Canyon Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 29
3
GreatSchools Rating

Elsinore Middle School

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

Elsinore High School

  • Education Level: High
  • # of students: 2,125
  • # of teachers: 90
5
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,528
Property Tax -$432
Property Insurance -$64
Property Management Fees -$108
CASH FLOW
-$302

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.

$440,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,876

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,9003$2,0004$2,100
$2,100
RENT COMPS ANALYSIS
  • 749 Acacia Street Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.21
    •  
  • 31713 Indian Spring Road Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 1999
    property image
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.22
    •  
  • 368 Avenue 6 Lake Elsinore, CA 3
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2003
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 350 Avenue 11 Lake Elsinore, CA 4
    • 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,705 Sqft ∙ Built 1992
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.23
    •  
PROPERTY LISTING DETAILS
Lisa Encinias
Century 21 Allstars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21004524
Last Updated: 01/18/2021
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