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868 Pinehurst Drive Lake Elsinore, CA 92530

3 Beds 2 Baths 1,467 sqft Built 1984

$360,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $245.40
  • 3 Days on Market
  • MLS # : SW21011540
  • Updated Date : 01/29/2021 at 12:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 2 full
Listing Agent

The Wright Agent 4 U

Listing Agent's Description

This home has so much to offer with some TLC. Home is located going into the Cul-De-Sac on left side and really close the Lake! Entry has custom brick veneer walkway towards the 8- foot tall wood double front doors. 3 Bedroom, 2 Bath and a wood burning fireplace in the family room. New upgraded luxury Laminate flooring throughout and carpet in bedrooms. Kitchen has natural stone flooring & granite counter tops. 3 Sliding glass doors that go out to the back yard from the Master bedroom, Family room and dining room. Close to Schools, shopping, and Lake Elsinore Launch Point Recreation Destination & RV Park.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lake View District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $143k459k

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

Neighborhood: Lake View District

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000Rent in $10352083

* 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,250
Property Tax -$339
Property Insurance -$63
Property Management Fees -$111
CASH FLOW
$117

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.

$360,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.1%
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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$34,701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,980

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,7953$1,8804$1,9005$2,100
$2,100
RENT COMPS ANALYSIS
  • 868 Pinehurst Drive Lake Elsinore, CA 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.28
    •  
  • 3506 Eisenhower Drive Lake Elsinore, CA 1
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1980
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.36
    •  
  • 282 Jessica Street Lake Elsinore, CA 2
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1986
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.24
    •  
  • 15171 Teakwood Street Lake Elsinore, CA 4
    • 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,391 Sqft ∙ Built 1996
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.37
    •  
  • 925 Diane Way Lake Elsinore, CA 5
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1982
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.43
    •  
PROPERTY LISTING DETAILS
Johnna Wright
The Wright Agent 4 U
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21011540
Last Updated: 01/29/2021
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