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31835 Leigh Lane Temecula, CA 92591

4 Beds 3 Baths 2,763 sqft Built 1990

$699,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $252.99
  • 3 Days on Market
  • MLS # : PW21058212
  • Updated Date : 03/20/2021 at 08:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,763 sqft
  • Baths : 3 full
Listing Agent

Mashney Realty

Listing Agent's Description

This beautiful and spacious home is located on a cul-de-sac of one of the most prestigious and desirable community in Temecula and walking distance to Serena Hills Park. This well-cared remodeled home was rarely lived in since it was owned and remodeled. It boasts with upgraded new flooring, new cooktop, tasteful choice of quartz counter tops, new commodes for all bathrooms, and two new A/C units. all bedrooms are good size specially the master,, there is an office on the main level and a loft that can be converted to bedrooms. The front yard and the large backyard are completely manicured with a barbecue area and covered patio to entertain all day long. You can't miss out on this home and you have to see it to appreciate it. This home also offers low taxes and No HOA.

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: Serena Hills

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Serena Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822996

* 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
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,428
Property Tax -$730
Property Insurance -$94
Property Management Fees -$155
CASH FLOW
-$786

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.

$699,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.37%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,632

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$2,6204$2,7005$2,850
$2,850
RENT COMPS ANALYSIS
  • 31835 Leigh Lane Temecula, CA 3
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.95
    •  
  • 41673 Monterey Place Temecula, CA 1
    • 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 2002
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 40288 Calle Medusa Temecula, CA 2
    • 5 beds 3 baths ∙ 2,670 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,670 Sqft ∙ Built 1988
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 41728 Monterey Place Temecula, CA 4
    • 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,874 Sqft ∙ Built 2002
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.94
    •  
  • 31155 Sunningdale Drive Temecula, CA 5
    • 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1999
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Victoria Abbey
Mashney Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21058212
Last Updated: 03/20/2021
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