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31894 Corte Priego Temecula, CA 92592

3 Beds 3 Baths 1,339 sqft Built 1992

$440,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $328.60
  • 2 Days on Market
  • MLS # : SW20247681
  • Updated Date : 11/28/2020 at 08:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full , 1 half
Listing Agent

Big Block Realty

Listing Agent's Description

Paloma Del Sol Gem! 3 bedroom, 2.5 bath, Two Story home with fresh paint, new carpet, updated fixtures with an excellent location! Enter into the high ceiling great room that opens to the backyard and already wired to hang your big TV! Easy to get right to the kitchen for a drink that is light and bright with 20" tiles and crown molding! Downstairs powder bathroom before going out to the connected 2 car garage with laundry hook ups. Upstairs is 2 bedrooms with new ceiling fans and full bath close by with hallway linen cabinets. Cross over the open catwalk to the private Master Bedroom with Full bath and view of your backyard! The backyard has grass and salt finished concrete patio and side walk to the front yard. Located on a cul-de-sac street with entrance to the start of the community 5 miles walking trail with several playgrounds, parks, tennis, pools, and spas! Click the link to take a 3-D tour! Come and check-out this beauty today and make it your new home!

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: Paloma del Sol

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Paloma del Sol

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
Paloma Elementary School Primary Regular 604 23 8
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Paloma Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 23
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
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,623
Property Tax -$462
Property Insurance -$60
HOA -$99
Property Management Fees -$109
CASH FLOW
-$503

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.

$440,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0904$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 31894 Corte Priego Temecula, CA 1
    • 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.38
    •  
  • 43023 Camino Casillas Temecula, CA 2
    • 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 1991
    LEASED 06/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.39
    •  
  • 43045 Corte Salamanca Temecula, CA 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.39
    •  
  • 43116 Camino Casillas Temecula, CA 4
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1991
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 43450 Via Barrozo Temecula, CA 5
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.35
    •  
PROPERTY LISTING DETAILS
Stephanie Bosich
Big Block Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20247681
Last Updated: 11/28/2020
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