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31983 Calle Novelda Temecula, CA 92592

4 Beds 3 Baths 1,395 sqft Built 1994

$475,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $340.50
  • 7 Days on Market
  • MLS # : EV21032169
  • Updated Date : 02/27/2021 at 10:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,395 sqft
  • Baths : 3 full
Listing Agent

Century 21 Lois Lauer Realty

Listing Agent's Description

This beautiful upgraded home has 4 bedrooms 3 baths. Ceiling Fans in all rooms, Remodeled kitchen with stainless steel appliances. Beautiful granite counter tops including large island. Beautiful wood flooring in living room. Master bathroom also remodeled and beautiful. Backyard overlooking greenbelt. Has a spa with Gazebo. Must see! New Buyer must assume financing on SOLAR .. Please refer to supplementals for solar information and payment schedule.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,650
Property Tax -$498
Property Insurance -$61
HOA -$101
Property Management Fees -$115
CASH FLOW
-$475

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.

$475,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.41%

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-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1754$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 31983 Calle Novelda Temecula, CA 1
    • 4 beds 3 baths ∙ 1,395 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,395 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.40
    •  
  • 43116 Camino Casillas Temecula, CA 2
    • 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 3
    • 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 4
    • 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
    •  
  • 43153 Barsanti Drive Temecula, CA 5
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2001
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.39
    •  
PROPERTY LISTING DETAILS
Elvira Pence
Century 21 Lois Lauer Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV21032169
Last Updated: 02/27/2021
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