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31861 Red Pine Way Temecula, CA 92592

3 Beds 3 Baths 1,650 sqft Built 2011

$450,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $272.73
  • 5 Days on Market
  • MLS # : SW21006904
  • Updated Date : 01/13/2021 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Team Forss Realty Group

Listing Agent's Description

This is a beauty and will go fast!! 3 bedroom, 2 bath home in Tamarack of Wolf Creek. It is located at the end of the cul de sac and has all the upgrades...granite kitchen, SS appliances, yard with hardscape, fire pit, turf and area for planting some trees or succulents. This is inside the award winning Great Oak Highschool district ( Temecula). All 3 bedrooms are up with 2 full baths and laundry room. There are wood blinds throughout along with ceiling fans where needed and large walk in closet in master. Pechanga entertainment is just near by as is Birdsall sports park with stadium baseball seating and soccer fields. Wolf Creek has multiple parks, great community amenities and highly rated schools. This community has easy access for commuters in South Temecula and close to shopping and great restaurants.

SEE MORE

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: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k707k

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

Neighborhood: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822674

* 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
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,563
Property Tax -$460
Property Insurance -$67
HOA -$120
Property Management Fees -$136
CASH FLOW
-$36

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.

$450,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$24,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,075

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1503$2,2754$2,3105$2,500
$2,500
RENT COMPS ANALYSIS
  • 31861 Red Pine Way Temecula, CA 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.40
    •  
  • 31811 Green Oak Way Temecula, CA 1
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2007
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.24
    •  
  • 45251 Paseo Durango Temecula, CA 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 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
    •  
  • 46129 Via La Colorada Temecula, CA 5
    • 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,916 Sqft ∙ Built 1999
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.30
    •  
PROPERTY LISTING DETAILS
Goran Forss
Team Forss Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21006904
Last Updated: 01/13/2021
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