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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $362.20
- 3 Days on Market
- MLS # : SW21016691
- Updated Date : 01/29/2021 at 10:27
CONSTRUCTION
- Beds : 3
- Floor Size : 1,201 sqft
- Baths : 2 full
Listing Agent
Big Block Realty
Listing Agent's Description
Act fast! This single story, 3 bedroom, 2 bathroom home on a corner lot wont last! Located in a highly desirable, South Temecula neighborhood with no HOA and a low tax rate. This charming home features tile and wood laminate flooring, custom interior paint, upgraded tub / shower tile, ceiling fans and mirrored wardrobe doors. The front yard has been simplified with low maintenance and drought resistant landscaping. The spacious rear yard features potential RV Parking, a covered patio area, fruit trees, a built-in BBQ area with a functional sink and mini frig. There is a tankless hot water heater, soft water and water filtration system and a leased solar system which the buyer will assume. A portion of the garage has been converted into a utility room which is accessible from the interior of the home and from the interior of the garage. Permits unknown. This home is conveniently located near Pechanga Resort and Spa, Old Town Temecula, shopping parks, restaurants, and freeway access. The wineries are a short drive away! Copy & paste this link to your browser to see the full photo tour: https://www.tourfactory.com/idxr2833475
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Redhawk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Redhawk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,140 |
| EXPENSES | Loan Payment | -$1,511 |
| Property Tax | -$463 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
-$17
|
||
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.
$435,000
PROJECTED PRICE
$2,140
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$121,025
LOAN DETAILS
$1,511
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $108,750 |
| Loan Amount | $326,250 |
5.5
YEARS SAVED
$26,046
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,140
LIST RENT -
$1.78
LIST RENT PER SQFT
-
COMP ESTIMATED VALUE -
COMP AVG. RENT PER SQFT
Comps Range
-
31045 Ruidosa Street Temecula, CA
- 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $2,140
- $1.78
PROPERTY LISTING DETAILS
Big Block Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21016691
Last Updated: 01/29/2021
