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28761 Edenton Way Temecula, CA 92591

3 Beds 2 Baths 1,866 sqft Built 2005

$559,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $299.57
  • 18 Days on Market
  • MLS # : SW21046031
  • Updated Date : 03/20/2021 at 11:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,866 sqft
  • Baths : 2 full
Listing Agent

Era Donahoe Realty

Listing Agent's Description

Single Story Harveston Gem. 3 Bedrooms, 2 Baths, Open Concept Floor Plan. Walking distance to the Lake and Pool! No rear neighbors! This home features large ceramic tile, custom paint and upgraded carpet. The front of the home has 2 Bedrooms and 1 Full Bath. The kitchen opens to the family room and features a Large Island with Granite Countertops and plenty of room for Entertaining. The Family Room has a Custom Media Center and Fireplace. The Master Bedroom is located at the back of the house and has it's own private bath with his & her sinks, separate shower and tub. The backyard is the perfect spot to unwind at the end of the day. Indoor Laundry and 2 Car Attached Garage with Epoxy Flooring and Extra Storage! With walking trails throughout the neighborhood, a 17 acre lake park, multiple children's play areas, a community clubhouse, Junior Olympic pool with children's splash park, and a 19 acre sports park, Harveston's amenities are unparalleled. Harveston is also one of Temecula's most convenient neighborhoods.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harveston

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Harveston

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10822496

* 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
Ysabel Barnett Elementary School Primary Regular 941 35 8
James L. Day Middle School Middle Regular 994 38 8
Chaparral High School High Regular 3,237 120 9

Ysabel Barnett Elementary School

  • Education Level: Primary
  • # of students: 941
  • # of teachers: 35
8
GreatSchools Rating

James L. Day Middle School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 38
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 3,237
  • # of teachers: 120
9
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,942
Property Tax -$571
Property Insurance -$72
HOA -$94
Property Management Fees -$136
CASH FLOW
-$505

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.

$559,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,169

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,323

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,3003$2,3104$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 28761 Edenton Way Temecula, CA 3
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.24
    •  
  • 40218 Everett Way Temecula, CA 1
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.22
    •  
  • 40341 Logan Court Temecula, CA 2
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 40182 Canton Court Temecula, CA 4
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
  • 40200 Bellevue Drive Temecula, CA 5
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2005
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.28
    •  
PROPERTY LISTING DETAILS
Andrea Holmes
Era Donahoe Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21046031
Last Updated: 03/20/2021
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