North Shore

More Communities... 29292 SANDPIPER Dr, Lake Elsinore   Cap rate=                        8% Cash on cash return=     24% Initial investment=           $34,000 Shevy Akason and Associates Principles: 1) Cap rate of 8%+ using todays numbers, and not less than 5.5% using worst case scenarios 2) We use 5% vacancy as todays baseline, and 10% vacancy to calculate worst case scenario 3) We use todays rental numbers to calculate expected rent and account for rental deprecation of 12.5% to account for worst case scenario 4) We use an interest rate of 5% for those that are buying as a primary residence and 6.5% for investors 5) We account for lost income in downpayment of 2% 6) We Calculate 1%/year of the purchase price for maintenance reserves 29292 SANDPIPER Dr, Lake Elsinore   Based upon todays numbers= 8% cap rate, cash on cash return of 24% Monthly Costs HOA=               $156 Taxes=             $360 (Estimated) Maintenance=   $141 Insurance=       $71                        $728*12=             $8736* *If you hire a property manager your expenses will be higher Today's market rent= $1950*12=  $23,400-5% vacancy= $23400- $1170= $22,230 Today's Cap rate= $22,230-  $8736= $13,494/ $170,000= 8% Total cost of ownership using IHB calculator= $1174.60*12= $14,095.2  $22230 (Gross income)- $14,095.2 (total cost of ownership) = $8134.8/ $34,000(initial cash investment)= 24% Shevy Akason  Residential   Sun, Mar 8, 2009 11:41 PM  Ref: 1 Single Family Residence  Detached  RES Active  29292 SANDPIPER Dr   Lake Elsinore (LKEL)  Price $185,900   Lake Elsinore North (245) Zip 92530- TGNO 865F2 Riverside County (RI) XSTS Gateway Dr Aerial Map MRM-T09002964 Media: 1 Builder Tract (OTHR) Style Bed 4 Model () Baths 2 Stories Two Levels Floor Floor View No View HOA Dues $ 156 + $ ASqFt 2,499   YrBlt 2006  Land Fee ALotSize 11,761   Dim Acres Prkng Garage Attached Garage, # cars 3 A Remotes # Uncovered Spaces Carport # Garages RV Access Range Price Listing: No REO property sold in AS IS condition. Nice two story home, newer, shows well. Large floor plan and great lay out. Oak cabinets, white kitchen. Back yard needs landscape. Priced to sell quickly!  Directions Special Conditions: REO/Lender-Owned Contact Information This Report was created by: Agent: Shevy Akason Phone: 949-769-1599 Mobile Ph: Pager: ffice: Evergreen Realty Fax: 949-387-7041 Email: shevy.akason@evergreenrealty.net">shevy.akason@evergreenrealty.net Website: http://www.evergreenrealty.net Blog WSite  http://orangecountycaliforniarealestate.blogspot.com/ Listing Activity LP/SqFt $74.39 Orig Price $ 185,900 Prev Price $ Current Price $185,900 Primary Residence loan at 5% RentVsOwnulator™ Purchase Price $ Down Payment % $ Interest Rate % Number of Years years Mortgage $ Monthly Payment $ Property Tax % $ Special Taxes and Levies % $ Homeowners Insurance % $ Homeowners Association Fees $ $ Other (ex. Private Mortgage Ins) $ $ Maintenance and Replacement Reserves % $ Monthly Cash Cost $ Monthly Interest for 1st Payment $ Tax Savings (% of Interest and Property Tax) % $ Equity Hidden in Payment $ Lost Income to Down Payment % $ Total Cost of Ownership $ Investment property at 6.5% RentVsOwnulator™ Purchase Price $ Down Payment % $ Interest Rate % Number of Years years Mortgage $ Monthly Payment $ Property Tax % $ Special Taxes and Levies % $ Homeowners Insurance % $ Homeowners Association Fees $ $ Other (ex. Private Mortgage Ins) $ $ Maintenance and Replacement Reserves % $ Monthly Cash Cost $ Monthly Interest for 1st Payment $ Tax Savings (% of Interest and Property Tax) % $ Equity Hidden in Payment $ Lost Income to Down Payment % $ Total Cost of Ownership $ Comparative Market Analysis   Property Type:   Residential Lease       Status:   Active Subject Property                     # MLS# Type A/D Address City/ Area TGNO Trct/M Bed B t/f Stories Gar SqFt YBlt Lse Term List Price DOM 1  P677875  SFR  D  31 Via Scenica   LKEL/ 234  867A4  OTHR /1  4  3/3  2  3  2,580  2004  12  Months  $1,950  6  2  MRM-T09017618  SFR  D  27 BELLA DONACI   LKEL/ 234  867A1  OTHR /  5  3/3  2  3  2,443  1994  12  Months  $2,000  0  3  S544836  SFR  D  17311 Rodeo Rd   LKEL/ 241  896B6  CUST /0  3  2/2  1  3  1,900  1989  12  Months  $2,450  196  4  P670881  SFR  D  15525 starview   LKEL/ 245  865E2  OTHR /0  4  3/3  2  3  2,499  2004  12  Months  $1,600  58  5  MRM-T09004700  SFR  A  16506 MANGO Way   LKEL/ 245  867F1  OTHR /  3  3/3  2  0  1,725  1989  0    $1,700  2  6  S563106  SFR  D  15471 Solstice Ct   LKEL/ 245  865F2  OTHR /2  4  2/2  1  2  2,232  2005  12  Months  $1,775  27  7  MRM-T09014033  SFR  D  30523 AUDELO St   LKEL/ 245  865G4  OTHR /  3  2/2  1  10  1,600  1983  12  Months  $2,500  0  Average 4     4 2,140   12   $1,996 58 Number of Properties: 7 Average ( ListPrice / SqFt ) : ( 1996 / 2140 ) = $ 0.93

 2008
 

 Since 9/1/08

Property Type:   Residential Lease       Status:   Active

Subject Property

#

MLS#

Type

A/D

Address

City/ Area

TGNO

Trct/M

Bed

B t/f

Stories

Gar

SqFt

YBlt

Lse

Term

List Price

DOM

1

MRM-K09030204

SFR

D

16503 ANTELOPE St

LKEL/ 245

835F7

OTHR /

4

2/2

1

3

2,003

2003

12

Months

$1,750

0

Average

4

3

2,003

12

$1,750

0

Number of Properties: 1

Average ( ListPrice / SqFt ) : ( 1750 / 2003 ) = $ 0.87

Property Type:   Residential Lease       Status:   Leased
Subject Property
#	MLS#	Type	A/D	Address	City/ Area	TGNO	Trct/M	Bed	B t/f	Stories	Gar	SqFt	YBlt	Lse	Term	Sold Price	SP/ SqFt	SP/LP	SP/OLP	Sold Date	DOM
1	P647763	SFR	D	15146 Versailles St	LKEL/ 243	865G3	CUST /1	3	2/2	1	3	1,732	1996	12	Months	$1,600	$0.92	96.97%	91.43%	9/01/2008	24
2	MRM-T08119105	SFR	D	15154 BIARRITZ St	LKEL/ 245	865G3	OTHR /	3	3/3	2	3	2,010	1995	12	Months	$1,550	$0.77	100.00%	93.94%	(none)	185
3	MRM-T08121718	SFR	D	206 S MASSACHUSETTS St	LKEL/ 245	865G2	OTHR /	4	2/2	1	0	2,300	2003	12	Months	$1,550	$0.67	100.00%	100.00%	(none)	0
4	MRM-T08128614	SFR	D	15156 IRONWOOD St	LKEL/ 245	865G3	OTHR /	4	3/2	2	0	2,037	1993	12	Months	$1,600	$0.79	100.00%	100.00%	(none)	0
5	S555303	SFR	D	15538 Starview St	LKEL/ 245	747G3	OTHR /B	4	2/2	1	3	2,003	2004	12	Months	$1,750	$0.87	103.24%	97.22%	12/13/2008	28
6	S563106	SFR	D	15471 Solstice Ct	LKEL/ 245	865F2	OTHR /2	4	2/2	1	2	2,232	2005	12	Months	$1,600	$0.72	90.14%	90.14%	4/01/2009	21
Average								4	3	2,052	12	$1,608	$0.79	98.39%	95.46%	65
Number of Properties: 6
Average ( SalePrice / SqFt ) : ( 1608 / 2052 ) = $ 0.78

Shevy Akason and Associates
"We're not Just Real Estate agents, we're real estate consultants"
Shevy Akason | Realtor | Evergreen Realty
 Phone 949.769.1599 | Fax 949.753.0671
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