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

30948 Greensboro Drive Temecula, CA 92592

3 Beds 3 Baths 1,552 sqft Built 1986

$499,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $322.10
  • 3 Days on Market
  • MLS # : SW21058290
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,552 sqft
  • Baths : 3 full
Listing Agent

Big Block Realty

Listing Agent's Description

Honey Stop The Car!! Your opportunity to own a move in ready single story home with a very unique floor plan in the beautiful community of Rainbow Canyon Villages & Estates has just arrived. From the moment you walk in the door, you will feel warmed and welcomed into this amazing home. This freshly painted, beautiful home with wood look VLP flooring and upgraded carpet offers a rare in law suite complete with it own private full bathroom. The kitchen is a cook's dream with plenty of counter and storage space. The formal living room with fireplace is a great place to entertain your family and friends. The dining room is conveniently located off the kitchen making it easy to serve your delicious meals. The master bedroom has is own sliding glass doors that open out onto the backyard patio. The master bathroom offers dual vanities with granite counters and a large shower with built in bathing bench. Enjoy Temecula's beautiful weather while you relax in your backyard. As you walk out into the yard, you will see the many mature fruit trees- Lemon, Lime, Apple, Asian Pear, Tangerine, Cherry, Fig, Guava along with grapes, Leeks and Onions. Two utility sheds on the side yard make it easy to store all your outside tools. Conveniently located just minutes away from shopping, dining, entertainment, 1-15 Freeway, golf,Temecula's Award Winning Wine Country and within walking distance to our great Temecula Valley schools. With low taxes and HOA dues, this home is a must see to appreciate!

SEE MORE

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: Redhawk

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k620k

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

Neighborhood: Redhawk

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
Temecula Luiseno Elementary School Primary Regular 1,013 39 8
Erle Stanley Gardner Middle School Middle Regular 1,076 41 9
Great Oak High School High Regular 3,621 130 10

Temecula Luiseno Elementary School

  • Education Level: Primary
  • # of students: 1,013
  • # of teachers: 39
8
GreatSchools Rating

Erle Stanley Gardner Middle School

  • Education Level: Middle
  • # of students: 1,076
  • # of teachers: 41
9
GreatSchools Rating

Great Oak High School

  • Education Level: High
  • # of students: 3,621
  • # of teachers: 130
10
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,736
Property Tax -$525
Property Insurance -$65
HOA -$35
Property Management Fees -$120
CASH FLOW
-$441

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.

$499,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.7%
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$1.4M$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,2503$2,2754$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 30948 Greensboro Drive Temecula, CA 1
    • 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.31
    •  
  • 31424 Loma Linda Road Temecula, CA 2
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1995
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.32
    •  
  • 31557 Six Rivers Court Temecula, CA 3
    • 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,803 Sqft ∙ Built 2006
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.26
    •  
  • 45356 Escalante Court Temecula, CA 4
    • 4 beds 3 baths ∙ 1,635 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,635 Sqft ∙ Built 1993
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.41
    •  
  • 45600 Rainbow Canyon Road Temecula, CA 5
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1985
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.30
    •  
PROPERTY LISTING DETAILS
Judy Haines
Big Block Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21058290
Last Updated: 03/20/2021
BESbswy