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31979 Avenida Enrique Temecula, CA 92591

4 Beds 3 Baths 2,648 sqft Built 2002

$594,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $224.32
  • 19 Days on Market
  • MLS # : SW20258442
  • Updated Date : 12/31/2020 at 09:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,648 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

This one has it ALL! Built by Shea Homes. 4bedrooms, 3 baths in East Temecula (literally minutes to wine country) on a cul-de-sac. 2,648 square feet of living space. When I say all, I mean ALL. Two story ceilings at entry and living/dining room. Fireplace in living room. Downstairs bedroom and full bath. Butlers pantry and walk-in pantry. Granite countertops in kitchen with custom ogee edge. Island in kitchen Great room adjacent to kitchen with built in entertainment center. Romeo and Juliet balcony. Separate, Huge master suite with retreat. Dual vanity sinks, large walk-in closet. Deck off of master suite. Views looking SouthEast toward wine country. Stunning sunrises. POOL and SPA and still room for a play area/garden, etc. Owned solar pool heating. Three car (tandem) garage. Great Temecula schools, low HOA and tax base. Rates are low and I have lenders available. LET'S GO!

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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: 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
 

$534,600$653,400$594,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,192
Property Tax -$727
Property Insurance -$91
HOA -$43
Property Management Fees -$155
CASH FLOW
-$578

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.

$594,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,160

INVESTMENT

$163,160

Down Payment
$148,500
Rehab Estimate
$5,750
Closing Costs
$8,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,192

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,500
Loan Amount $445,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,615

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,5004$2,6005$2,630
$2,630
RENT COMPS ANALYSIS
  • 31979 Avenida Enrique Temecula, CA 5
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.99
    •  
  • 31458 Seminole Street Temecula, CA 1
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 2000
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 32349 Cercle Latour Temecula, CA 2
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1990
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
  • 31467 Seminole Street Temecula, CA 3
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 2000
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
  • 40288 Calle Medusa Temecula, CA 4
    • 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
    •  
PROPERTY LISTING DETAILS
Gregory Burmeister
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20258442
Last Updated: 12/31/2020
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