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28765 Oak Park Lane Temecula, CA 92591

3 Beds 3 Baths 1,774 sqft Built 2004

INVESTimate

$469,900

List Price

$2,230

$2,007 - $2,453

Rent Est.

$492,267  ( +4.76%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $264.88
  • 38 Days on Market
  • MLS # : PF20144031
  • Updated Date : 08/20/2020 at 12:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full , 1 half
Listing Agent

Purpose Realty

Listing Agent's Description

BEAUTIFUL MODEL HOME! LOCATED IN THE "AUBURN LANE" TRACT INSIDE THE HARVESTON MASTER PLANNED COMMUNITY. PROFESSIONAL CONSTRUCTION WITH GRANITE COUNTERS, MAPLE CABINETS, STAINLESS STEEL APPLIANCES, 2 TONE PAINT AND UPGRADED FLOORING. ENTER INTO NICE-SIZED LIVING AND ON THROUGH THE FAMILY ROOM WITH A GAS FIREPLACE AND CEILING FANS THROUGHOUT. FORMAL DINING ADJACENT TO KITCHEN AND UPSTAIRS LAUNDRY ROOM. MASTER SUITE HAS A SEPARATE TUB/SHOWER AND WALK-IN CLOSET. OTHER 2 AMPLE-SIZED BEDROOMS UPSTAIRS AS WELL. BACKYARD IS FULLY LANDSCAPED WITH NO REAR NEIGHBORS.

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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: 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
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,734
Property Tax -$552
Property Insurance -$70
HOA -$92
Property Management Fees -$132
CASH FLOW
-$349

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.

$469,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.76%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,197

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,231

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2003$2,2304$2,2555$2,300
$2,300
RENT COMPS ANALYSIS
  • 28765 Oak Park Lane Temecula, 3
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $1.26
    •  
  • 40218 Everett Way Temecula, 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
    •  
  • 40206 Ayer Lane Temecula, 2
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.31
    •  
  • 40346 Logan Court Temecula, 4
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,255
    • $1.27
    •  
  • 40211 Pasadena Drive Temecula, 5
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2005
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.23
    •  
PROPERTY LISTING DETAILS
Matthew Chen
Purpose Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PF20144031
Last Updated: 08/20/2020
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