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27940 Corte Melosa Temecula, CA 92592

3 Beds 3 Baths 1,523 sqft Built 2013

$410,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $269.21
  • 7 Days on Market
  • MLS # : SW20226440
  • Updated Date : 10/29/2020 at 13:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,523 sqft
  • Baths : 2 full , 1 half
Listing Agent

Investor's Choice Executive Re

Listing Agent's Description

Bel Vista home located in the center of Temecula. It is within walking distance to Temecula duck pond and minutes to historic old town, Pechanga resort, wineries, shopping and award winning schools. This 3 bedroom 2.5 bath is on a corner lot with no neighbors on one side or behind. It has upgraded laminate floors on the lower level, an upgraded half bath and 9ft ceilings. The kitchen has granite countertops, cherry modern cabinets and stainless steel appliances. Upstairs you will find 3 bedrooms and 2 full bathrooms with upgraded neutral extra padded carpet, The master bath has modern dual sinks, a glass enclosed shower, and his and hers walk in closets. The back patio is very quiet and has gorgeous views of the city. Save on your utilities with energy efficient windows, tankless water heater, and solar. There is NO MELLOS ROOS and LOW TAXES. Amenities in the neighborhood include pool, spa, playgrounds, dog area, and BBQ covered picnic areas.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Rancho Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Rancho Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822520

* 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
Vail Elementary School Primary Regular 580 25 5
Margarita Middle School Middle Regular 862 33 7
Temecula Valley High School High Regular 2,722 103 9

Vail Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 25
5
GreatSchools Rating

Margarita Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 33
7
GreatSchools Rating

Temecula Valley High School

  • Education Level: High
  • # of students: 2,722
  • # of teachers: 103
9
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,513
Property Tax -$430
Property Insurance -$64
HOA -$285
Property Management Fees -$120
CASH FLOW
-$372

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.

$410,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0403$2,0504$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 27940 Corte Melosa Temecula, CA 2
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.34
    •  
  • 43006 Avenida Amistad Temecula, CA 1
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.31
    •  
  • 27784 Avenida Avila Temecula, CA 3
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2013
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.35
    •  
  • 43122 Avenida Abril Temecula, CA 4
    • 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,523 Sqft ∙ Built 2012
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.38
    •  
  • 43086 Avenida Amistad Temecula, CA 5
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 2014
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.32
    •  
PROPERTY LISTING DETAILS
Kari La Faye
Investor's Choice Executive Re
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20226440
Last Updated: 10/29/2020
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