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

29778 Via Las Chacras Temecula, CA 92591

3 Beds 2 Baths 1,477 sqft Built 1989

$420,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $284.36
  • 4 Days on Market
  • MLS # : SW20237736
  • Updated Date : 11/12/2020 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,477 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate, Tem

Listing Agent's Description

Welcome home to the cutest single story, 3 bedroom, 2 bath home available in the heart of Temecula with NO HOA and LOW taxes with RV/Trailer parking. As you pull up to the property you are greeted by full mature trees on lush grass sitting on a 6100 sqft, large corner lot, featuring a freshly painted exterior. The almost 1500sqft home greets you with tall cathedral ceilings, tile floors, fresh interior paint and a large living area that's perfect for entertaining or can be split to be more formal with a formal dining and living room. The upgraded kitchen boasts quartz counters, custom tile backsplash, soft close grey cabinets, white appliances, bay window, tons of storage and an eat up bar. The open dining area is appointed with a wood burning fireplace dressed up by custom painted brick mantel and features a sliding glass door to the yard. The single story home features a whole house fan, two secondary bedrooms that are large which share a full bath with standing shower, tub combo, upgraded vanity, custom wood framed mirror. The large master bedroom boasts cathedral ceilings, ceiling fan, sliding glass doors to the backyard and a master bath with a standing shower, dual vanity and walk-in closet. The large pool sized yard is appointed with mature trees, lush grass, brand new alumawood patio cover and is quiet and private. Centrally located just minutes from the Promenade mall, 2 miles from the from 15 freeway, and in the Temecula school district, this is the one!

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

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Zip Code: 92591

ZipNIR 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
Temecula Elementary School Primary Regular 632 26 5
James L. Day Middle School Middle Regular 994 38 8
Chaparral High School High Regular 3,237 120 9

Temecula Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 26
5
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,550
Property Tax -$452
Property Insurance -$63
Property Management Fees -$116
CASH FLOW
-$210

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.

$420,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9703$2,1004$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 29778 Via Las Chacras Temecula, CA 2
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.33
    •  
  • 42149 Rubicon Circle Temecula, CA 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.39
    •  
  • 29737 Via Las Chacras Temecula, CA 3
    • 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
    •  
  • 42116 Orange Blossom Drive Temecula, CA 4
    • 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,629 Sqft ∙ Built 2000
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.35
    •  
  • 30288 Mersey Court Temecula, CA 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.39
    •  
PROPERTY LISTING DETAILS
Jordona Hertz
First Team Real Estate, Tem
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20237736
Last Updated: 11/12/2020
BESbswy