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31983 Calle Espinosa Temecula, CA 92592

3 Beds 3 Baths 1,508 sqft Built 1993

$465,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $308.36
  • 4 Days on Market
  • MLS # : SW20249078
  • Updated Date : 12/03/2020 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Team Real Estate, Tem

Listing Agent's Description

Hello stunning, remodeled Paloma Del Sol 3 bedroom, 3 bath home with LOW taxes and a POOL size. As you enter the property you are greeted by a quaint porch setting with a large mature tree shading the front yard with cathedral ceilings welcoming you as you walk into the home. The home is upgraded with LVP flooring throughout, all new grey paint, white baseboards and all new fixtures. The living area has been split to offer a formal family room and playroom currently with lots of natural light. The upgraded kitchen offers finishes from granite counters, stainless steel appliances, black large sink, subway tile backsplash, soft close farmhouse style cabinets, water softener and filtration system with an eating nook which is currently a coffee bar. The dining room features a roaring fireplace and sliding glass doors to the entertainers yard. The main floor also features an upgraded bath with shiplap walls, fresh painted cabinets and custom mirrors, updated lighting. The second story features LVP flooring throughout and two secondary bedrooms with custom paint which share the upgraded secondary bath. The master bedroom is large and overlooks the mountains with an attached bath featuring a shiplap wall, standing tub/shower combo and walk-in closet. The backyard boasts a huge wood patio cover, new fence, grass area perfect for a pool with fruit trees. Located in the Temecula school district and featuring amenities from 5 pools and spa, sports courts, hiking and biking trails.

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,716
Property Tax -$488
Property Insurance -$64
HOA -$101
Property Management Fees -$118
CASH FLOW
-$486

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.

$465,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.43%

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$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,1004$2,1755$2,200
$2,200
RENT COMPS ANALYSIS
  • 31983 Calle Espinosa Temecula, CA 1
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.33
    •  
  • 31910 Calle Redondela Temecula, CA 2
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1994
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.24
    •  
  • 43116 Camino Casillas Temecula, CA 3
    • 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
    •  
  • 31890 Calle Ballentine Temecula, CA 4
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.31
    •  
  • 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
Jordona Hertz
First Team Real Estate, Tem
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20249078
Last Updated: 12/03/2020
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