ActiveResidential · sale

1103 W Sumner

Lake Elsinore, CA 92530

$390,000

  • 2 beds
  • 1 baths
  • 1,010 sq ft
  • 0.2 acres
  • Built 1930

Listed by StockUp Realty · MLS #SW26132889

A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1930.

Garage parking

1 garage spaces listed.

Property size

0.2 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

One of Lake Elsinores most affordable view properties A rare opportunity to purchase a hillside home with panoramic lake views vintage character a detached garage and a large lotthen renovate to your own taste while building equity Perched on a hillside overlooking the sparkling waters of Lake Elsinore this charming 1930built home is bursting with potential and waiting for the right buyer to bring it back to life Whether youre an investor flipper handyman or ambitious homeowner looking to build equity this is your chance to secure a property with incredible upside at an affordable price pointSituated on an expansive 8712 sq ft lot this 2bedroom 1bathroom home offers approximately 1010 sq ft of living space and showcases breathtaking panoramic views of the lake valley and surrounding mountains The homes vintage character still shines through with original wood flooring a large statement fireplace charming rounded ceilings in the living room and unique architectural nooks that add warmth and personality rarely found in todays constructionOutside the opportunities continue A detached twocar garage offers potential for additional storage workshop space or even a future rooftop garden or entertaining area where the views truly take center stage The fully fenced backyard features a large Tuff Shed included in the sale along with a cozy outdoor fireplace and level sitting area perfect for gathering with friends and family under the starsWith NO HOA low property taxes and endless possibilities for renovation and customization this property presents a rare chance to create something special while building value Whether youre dreaming of restoring its historic charm modernizing it to your taste or creating a profitable investment the canvas is already hereCash or conventional financing only Property is being sold ASIS Bring your vision your tool belt and your imaginationopportunities like this with views character and potential dont come around often Unlock the potential Capture the views Create the dream

THE NEIGHBORHOOD

Explore the location.

1103 W Sumner, Lake Elsinore, CA 92530

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1930
Full baths
1
Garage spaces
1
Cooling
CentralAir
Heating
Central,NaturalGas
Appliances
GasOven,GasRange,GasWaterHeater,Microwave,Refrigerator,WaterHeater,Dryer,Washer
Flooring
Tile,Wood
Utilities
CableConnected,ElectricityConnected,NaturalGasConnected,PhoneConnected,SewerConnected,WaterConnected,OverheadUtilities
Fencing
ChainLink,GoodCondition
Accessibility
SafeEmergencyEgressFromHome
Pool
No
Pool features
None
Spa
No
Parcel
374093016
HOA
NA
Elementary school
Elsinore
Middle school
Elsinore
High school
Temescal
HOA fee
$0.00

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase
Estimated monthly rent$1,625.00
Cap rate

Annual operating income:

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Your property and current assumptions will be included for our team to review.

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Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interestLoan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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1103 W Sumner, Lake Elsinore, CA 92530 · MLS #SW26132889

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Listing information

MLS #SW26132889 · California Regional MLS

Listing brokerage: StockUp Realty
Listing agent: David Bowers

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.

The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. "CRMLS" and is protected by all applicable Copyright © 2023 laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional. Information deemed reliable but not guaranteed. Copyright © 2023 California Regional Multiple Listing Service, Inc. All rights reserved.