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31317 Heitz Lane Temecula, CA 92591

3 Beds 3 Baths 2,098 sqft Built 1990

$510,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $243.09
  • 19 Days on Market
  • MLS # : SW21048632
  • Updated Date : 03/27/2021 at 20:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,098 sqft
  • Baths : 3 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

WELCOME HOME to this stunning two story beauty in the desirable area of CHARDONNAY HILLS! With LOW Taxes and fabulous amenities, this home features 3 Bedrooms (Bonus Room upstairs could be a LARGE 4th Bedroom) and 3 Bathrooms. Gorgeous Spiral Staircase is focal point as you enter to the upstairs loft area with built in storage cabinets. Master bedroom boasts a serene separate Sitting Area Retreat as well as ensuite bathroom with adjoining walk-in closet. 2nd bedroom upstairs is just across hall from beautiful full bathroom. Additional BEDROOM DOWNSTAIRS as well as 3rd full bathroom. Formal Living and Dining Room as well as separate Den conveniently located off the kitchen area. New vinyl backyard fencing being installed this month. 3 Car garage and yards in front and back have been meticulously cared for. Community Association amenities include Olympic sized pool, spas, tennis and basketball courts, sand volleyball area, BBQ picnic areas, 3 Tot Lots. Close to Wine Country, Distinguished schools, parks, restaurants.

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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: Chardonnay Hills

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Chardonnay Hills

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
Rancho Elementary School Primary Regular 531 20 8
Margarita Middle School Middle Regular 862 33 7
Temecula Valley High School High Regular 2,722 103 9

Rancho Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 20
8
GreatSchools Rating

Margarita Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 33
7
GreatSchools Rating

Temecula Valley High School

  • Education Level: High
  • # of students: 2,722
  • # of teachers: 103
9
GreatSchools Rating
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,771
Property Tax -$521
Property Insurance -$78
HOA -$130
Property Management Fees -$138
CASH FLOW
-$298

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.

$510,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.8%
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-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,340
1$2,3402$2,5003$2,5004$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 31317 Heitz Lane Temecula, CA 1
    • 3 beds 3 baths ∙ 2,098 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,098 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.12
    •  
  • 41328 Yuba Circle Temecula, CA 2
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1989
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.10
    •  
  • 41022 Promenade Chardonnay Temecula, CA 3
    • 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2000
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 31494 Avenida Del Reposo Temecula, CA 4
    • 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,075 Sqft ∙ Built 1977
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 31563 Lakeridge Court Temecula, CA 5
    • 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 2001
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.23
    •  
PROPERTY LISTING DETAILS
Lori Buskirk
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21048632
Last Updated: 03/27/2021
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