30505 Canyon Hls #703 · Lake Elsinore, CA 92532

$409,900

2 bd · 2.5 ba · 1,274 sqft · Condo public records · 43 Days on market

Built 2007 $322/sqft · at area comps Est $426k · at est. $320/mo HOA · 10% of rent ↓ 3% since listing

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +9.3/15.0
• Appreciation +9.2/10.0
• Cash flow +7.1/30.0
• Schools +3.7/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +1.3/10.0

Listing remarks MLS

Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

Key facts

• $320 HOA
• 2 garage spots
• Community pool

Property features AI

Finance

• Other: One common wall
• HOA & community: Part of an association (Brookview Terrace Community Association); Association fee of $320 per month; Association amenities include pool and grounds maintenance; Community has 154 units

Exterior

• Parking: Attached 2-car garage; Two total parking spaces
• Utilities: Public sewer; District/public water
• Home design: Condominium; Multi-family structure; Attached property; Two stories; Entry on level 1
• Construction: Year built per public records
• Exterior features: Community pool; Has a view; Sidewalks in the community

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: One bedroom on the main level
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (furnace); Central cooling
• Interior features: Two levels; Main-level entry; Main-level bedroom; Main-level bathroom; Has living room; Has kitchen; Living room fireplace
• Laundry & utility: Laundry inside the unit

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $410k.

Deal economics

• At list price, monthly cash flow is $-587 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $306k (25.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $305k (25.5% below list).
• Recommended offer: $305k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.3% in Lake Elsinore — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#510 in CA) — a middle-class / working-renter tenant base. Strengths: housing A+, crime B, employment B; Watch: amenities D, commute F, cost of living F.
• Lake Elsinore Unified (suburban): math 34% / reading 49% proficiency, ranked #210 of 517 in CA (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cottonwood Canyon Elementary (math 54% / reading 54%, grade C, #311 of 1,571 statewide, top 21%, 789 students, 50% FRL); Canyon Lake Middle (math 44% / reading 64%, grade B-, #78 of 498 statewide, top 15%, 955 students, 51% FRL); Elsinore High (math 24% / reading 75%, grade D+, #332 of 1,170 statewide, top 30%, 2,122 students, 71% FRL).
• Market conditions: Rents flat; 120 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($3k loan paydown + $34k appreciation (8.3% local appreciation)).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$59k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $305,254 (25.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.74% ✗
• Cap rate: 4.57%
• Cash-on-cash: -6.14%
• DSCR: 0.73
• GRM: 11.2

CMA / ARV

• ARV (median comp): $426,497
• List price: $409,900
• Delta: -3.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

8.35% appreciation · 0.96% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 2.17×
• Total profit: $134,635
• Equity at exit: $321,158

10-year hold

• IRR: 14.7%
• Equity multiple: 4.55×
• Total profit: $407,540
• Equity at exit: $647,020

Cash invested: $114,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92532

• Home prices YoY: 2.7%
• Rents YoY: 1.0%
• Active inventory: 120
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $3,053 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$358 /mo · $4,298/yr
• Insurance: −$171
• HOA: −$320
• Vacancy / Maint / Mgmt: −$641
• Net cashflow: $-587

Break-even live

Break-even rent $3,796

Max offer price $306,197

Occupancy floor —

Sensitivity live

Price	-10% $-355	-5% $-471	+0% $-587	+5% $-703	+10% $-819
Rent	-10% $-828	-5% $-708	+0% $-587	+5% $-466	+10% $-346
Rate	-1.0pp $-381	-0.5pp $-483	base $-587	+0.5pp $-693	+1.0pp $-801

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30505 Canyon Hills Rd #1502 Lake Elsinore, CA	3.0	2.5	1565	$3,500	$2.24	20d	1	0.02mi
30505 Canyon Hills Rd Lake Elsinore, CA	2.0	2.5	1274	$2,725	$2.14	45d	2	0.07mi
24024 Roybal Way Lake Elsinore, CA	3.0	2.5	1792	$3,400	$1.90	18d	1	0.73mi
30820 Early Round Dr Canyon Lake, CA	3.0	2.0	1408	$3,450	$2.45	7d	1	0.75mi
24024 Savory Way Lake Elsinore, CA	3.0	2.5	1805	$3,000	$1.66	45d	1	0.84mi
34281 Woodmont Lake Elsinore, CA	3.0	2.5	1767	$2,995	$1.69	12d	1	0.84mi
22910 Pheasant Dr Canyon Lake, CA	3.0	2.0	1535	$3,500	$2.28	26d	1	0.96mi
22392 Canyon Club Dr Canyon Lake, CA	2.0	2.0	1423	$2,600	$1.83	45d	1	1.46mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $409,900 Active 43 DOM
2. 2026-06-18
   days on market $409,900 Active 40 DOM
3. 2026-06-17
   days on market $409,900 Active 39 DOM
4. 2026-06-16
   days on market $409,900 Active 38 DOM
5. 2026-06-15
   days on market $409,900 Active 37 DOM
6. 2026-06-13
   days on market $409,900 Active 35 DOM
7. 2026-06-13
   days on market $409,900 Active 34 DOM
8. 2026-06-09
   days on market $409,900 Active 31 DOM
9. 2026-06-08
   days on market $409,900 Active 30 DOM
10. 2026-06-07
    days on market $409,900 Active 29 DOM
11. 2026-06-04
    days on market $409,900 Active 26 DOM
12. 2026-06-03
    days on market $409,900 Active 25 DOM
13. 2026-06-02
    days on market $409,900 Active 24 DOM
14. 2026-06-01
    days on market $409,900 Active 23 DOM
15. 2026-05-31
    days on market $409,900 Active 22 DOM
16. 2026-05-07
    listed $409,900 Active 2466-char remark
17. 2025-01-24
    soldstatus $424,000 Closed Sale 607-char remark

    Show marketing remark (607 chars)

    Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

18. 2025-01-24
    soldstatus $424,000

    Show marketing remark (607 chars)

    Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

19. 2024-11-07
    status Pending Sale 607-char remark

    Show marketing remark (607 chars)

    Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

20. 2024-10-10
    price $431,000 607-char remark

    Show marketing remark (607 chars)

    Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

21. 2024-09-09
    listed $443,000 Active 607-char remark

    Show marketing remark (607 chars)

    Welcome to this delightful property that exudes comfort and style. The inviting living space boasts a cozy fireplace, perfect for those chilly evenings. The home's neutral color paint scheme provides a calming and contemporary canvas, ready for your personal touch. The primary bathroom is a sanctuary, complete with a separate tub and shower for your relaxation needs, and double sinks for added convenience. The primary bedroom features a generous walk-in closet, offering ample storage space. This property is a perfect blend of functionality and charm. Don't miss out on making this house your new home.

22. 2024-08-26
    soldstatus $423,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $4,298 · $358/mo
• Projected year-2 tax: $4,298 · $358/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 6/10 Major 9 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,630
• − Mortgage interest: −$22,961
• − Property taxes: −$4,298
• − Insurance: −$2,050
• − Repairs & maintenance: −$2,930
• − Management: −$2,930
• − HOA: −$3,840
• − Depreciation: −$11,924
• Taxable loss: −$14,303
• Est. tax savings @ 24.0%: +$3,433
• After-tax cash flow: $-3,612/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lake Elsinore Unified
• NCES district ID: 0600027
• Math proficiency: 34% ▲ 5.00%
• Reading proficiency: 49% ▲ 8.00%
• Median HH income: $63,829
• Composite: 37.01/100
• National rank: #4518
• State rank: #210 of 517 in CA

Livability — Lake Elsinore

• Score: 62/100
• State rank: #510
• US rank: #17250

Category grades

Amenities D Commute F Cost of living F Crime B Employment B Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Elsinore, CA
• County: Riverside County · 2,287,001 people
• City population: 89,823
• Metro: Riverside-San Bernardino-Ontario, CA
• Population (ZIP): 28,055
• Household income: $122,312
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 691.0

Population outlook (Riverside County) Hauer SSP2

• Today (2025): 2,664,475 people
• By 2030: 2,802,692 · +5.2%
• By 2040: 3,050,904 · +14.5%
• By 2050: 3,256,783 · +22.2%
• By 2075: 3,655,058 · +37.2%
• By 2100: 3,766,594 · +41.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 37% Two or more races 19% Asian 10% Black 7%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Romanian 2% Slovak 1% Portuguese 1%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 67% English-only · Spanish 24% Tagalog/Filipino 4% Russian/Polish/Slavic 2%

Political lean MEDSL · Riverside

• 2024 margin: Toss-up / Even · D 48.0% · R 49.3% · Other 2.6%
• 2008→2024 swing: -3.6pp toward R · 2008: 2.3pp · 2024: -1.3pp
• All cycles: 2024: R+1.3 2020: D+8.0 2016: D+4.3 2012: R+0.4 2008: D+2.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 8.35%
• Current HPI: 315.9846
• Rent YoY: ▲ 0.96%
• Metro: Riverside-San Bernardino-Ontario, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-3.1% since first listed

8 events — show timeline

• 2026-05-30 Relisted — CRMLS
• 2026-05-07 Listed $409,900 CRMLS
• 2025-01-24 Sold (Public Records) $424,000 Public Records
• 2025-01-24 Sold (MLS) $424,000 CRMLS
• 2024-11-07 Pending — CRMLS
• 2024-10-10 Price Changed $431,000 CRMLS
• 2024-09-09 Listed $443,000 CRMLS
• 2024-08-26 Sold (Public Records) $423,000 Public Records

Property tax history

-0.6%/yr

Latest (2025): $4,298 · -31.7% YoY. Source: county tax records.