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

31418 Corte Tunas Temecula, CA 92592

4 Beds 3 Baths 2,622 sqft Built 1990

$639,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $243.71
  • 3 Days on Market
  • MLS # : 210005133
  • Updated Date : 02/27/2021 at 07:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,622 sqft
  • Baths : 3 full
Listing Agent

Scott & Quinn Real Estate

Listing Agent's Description

Relax in bed in your grand master suite, sip coffee and enjoy lovely views complete with the occasional hot air balloon with your private master balcony. This home is completely updated and features a BRAND NEW POOL, HOT TUB AND FIREPIT put in in 2016 absolutely stunning and designed by hand. Not to mention that the solar is owned, not leased, and completely paid off. Other amazing features of this home include: new Tahoe Ochre porcelain tile, custom paint, new trim, new carpet w SoilSheild, newer stainless steel appliances, new bianco antico greco granite countertops with custom backsplash, all cabinets refinished, 2 baths & laundry room completely upgraded, 2 new tubs, A/C unit is also only a few years old. New light fixtures, door hardware. Newer plumbing fixtures, newer hanging light fixtures and ceiling fan. NO MELLO ROOS, low HOA dues and a phenomenal location, walking distance to schools and park. Absolutely gorgeous, come and see it today! Equipment: Garage Door Opener,Pool/Spa/Equipment, Range/Oven Other Fees: 0 Sewer: Sewer Connected Topography: LL

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

Neighborhood: Margarita Village - Temeku Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Margarita Village - Temeku 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
Vintage Hills Elementary School Primary Regular 745 29 8
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Vintage Hills Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 29
8
GreatSchools Rating

Temecula Middle School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 43
7
GreatSchools Rating

Temecula Valley High School

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

$575,100$702,900$639,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,219
Property Tax -$671
Property Insurance -$91
HOA -$40
Property Management Fees -$157
CASH FLOW
-$518

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.

$639,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.5%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6604$2,6805$3,000
$3,000
RENT COMPS ANALYSIS
  • 31418 Corte Tunas Temecula, CA 3
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.01
    •  
  • 30958 Mashie Way Temecula, CA 1
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1998
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.98
    •  
  • 42058 Southern Hills Drive Temecula, CA 2
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1999
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
  • 31348 Canterbury Court Temecula, CA 4
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1997
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.10
    •  
  • 31822 Sandhill Lane Temecula, CA 5
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2001
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.12
    •  
PROPERTY LISTING DETAILS
Krista Lombardi
Scott & Quinn Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 210005133
Last Updated: 02/27/2021
BESbswy