Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 1990
- Price/Sqft : $270.01
- 13 Days on Market
- MLS # : SW20223290
- Updated Date : 11/02/2020 at 18:41
CONSTRUCTION
- Beds : 3
- Floor Size : 1,407 sqft
- Baths : 3 full
Listing Agent
First Team Real Estate, Tem
Listing Agent's Description
Darling 3 bedroom, 3 bathroom Condo located in the gated community of Rancho Del Mar is also FHA APPROVED! Located in the heart of Temecula! This highly sought after end unit is the only one with a park area in front and no street directly in front. Over 1400 sf of living space with a One bedroom and bath is located on the main floor. Dedicated laundry room with cabinets. The home has a two car garage with direct access to home. Tile floor in main areas on first floor. New Carpet just installed. White kitchen cabinets and stainless appliances. Upstairs has a sweet dedicated tech center. Master has balcony with view of the community and sunrises! The patio wraps around the unit with windows to let in the natural sunlight. Enjoy the community pool/spa, tennis court and racquetball court! Enjoy the walks throughout landscaped with lighting. Close to the Promenade Mall, award winning wineries, Old Town, world class Pechanga Casino and Resort! New SJMC college opening a couple of blocks away!
SEE MORE
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
Zip Code: 92591
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92591
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,820 |
| EXPENSES | Loan Payment | -$1,402 |
| Property Tax | -$388 | |
| Property Insurance | -$61 | |
| HOA | -$325 | |
| Property Management Fees | -$107 | |
|
CASH FLOW
-$463
|
||
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.
$379,900
PROJECTED PRICE
$1,820
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$106,424
LOAN DETAILS
$1,402
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $94,975 |
| Loan Amount | $284,925 |
0.33
YEARS SAVED
$239
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,820
LIST RENT -
$1.29
LIST RENT PER SQFT
-
$1,984
COMP ESTIMATED VALUE -
$1.41
COMP AVG. RENT PER SQFT
Comps Range
-
29571 Cara Way Temecula, CA 1
- 3 beds 4 baths ∙ 1,407 Sqft ∙ Built 1990 3 beds 4 baths ∙ 1,407 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,820
- $1.29
-
29590 Cara Way Temecula, CA 2
- 3 beds 3 baths ∙ 1,311 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,311 Sqft ∙ Built 1990
LEASED 09/06/19- Rent
- Rent Per SQFT
- $1,850
- $1.41
-
29574 Cara Way Temecula, CA 3
- 3 beds 4 baths ∙ 1,407 Sqft ∙ Built 1990 3 beds 4 baths ∙ 1,407 Sqft ∙ Built 1990
LEASED 08/27/19- Rent
- Rent Per SQFT
- $1,950
- $1.39
-
29771 Via Puesta Del Sol Temecula, CA 4
- 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 1986
LEASED 08/23/19- Rent
- Rent Per SQFT
- $2,000
- $1.42
-
29737 Via Las Chacras Temecula, CA 5
- 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1989
LEASED 05/11/20- Rent
- Rent Per SQFT
- $2,100
- $1.42
PROPERTY LISTING DETAILS
First Team Real Estate, Tem
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20223290
Last Updated: 11/02/2020
