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28798 Bristol Road Temecula, CA 92591

3 Beds 3 Baths 1,684 sqft Built 2005

$499,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $296.32
  • 5 Days on Market
  • MLS # : SB21036688
  • Updated Date : 02/24/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,684 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vista Sotheby’s International Realty

Listing Agent's Description

Amazing Harveston Community home. Situated in the centrally located Asheville tract, this home is steps away from Harveston Lake and the park with its walking paths, benches, picnic areas & more. Set back from the sidewalk, it has a wonderful curb appeal with a charming front porch. Interior is spotless & well-maintained. The home features plush carpet throughout, with tile flooring in kitchen and baths. A warm, neutral color palette lends an inviting appeal. On the main floor, is a dining room and a family room with a cozy fireplace with white mantel, and a built-in white entertainment center with surround sound. Features included in the kitchen are granite counters, stainless steel appliances, upgraded white cabinets, and recessed lighting. Upstairs are 3 bd's and 2.5 baths. Custom window shutters, large walk-in closets, and custom paint are just some of the features that lend luxurious touches to this home. The amenities & HOA-organized events & activities calendar will give you the opportunity to stay active or just relax. HOA also offers free wifi access to residents. Harveston Community includes Harveston Lake, a junior Olympic swimming pool, parks, clubhouse, a City-run sports complex and so much more. Nearby, the large Winchester Meadows shopping center offers a wide variety of dining options, boutique shops, big box retailers, grocery stores, banks, and various other service providers. This home is a rare find in a great community, and an excellent neighborhood!

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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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,733
Property Tax -$510
Property Insurance -$68
HOA -$177
Property Management Fees -$129
CASH FLOW
-$427

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.

$499,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.44%

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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,1904$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 28798 Bristol Road Temecula, CA 3
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.30
    •  
  • 40218 Everett Way Temecula, CA 1
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.22
    •  
  • 28683 Bar Harbor Lane Temecula, CA 2
    • 3 beds 3 baths ∙ 1,577 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,577 Sqft ∙ Built 2007
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.30
    •  
  • 40341 Logan Court Temecula, CA 4
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2004
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.30
    •  
  • 40189 Gallatin Court Temecula, CA 5
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.38
    •  
PROPERTY LISTING DETAILS
James Van Zanten
Vista Sotheby’s International Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21036688
Last Updated: 02/24/2021
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