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32124 Corte Carmona Temecula, CA 92592

4 Beds 2 Baths 2,000 sqft Built 1995

$559,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $279.50
  • 4 Days on Market
  • MLS # : SW21028115
  • Updated Date : 02/11/2021 at 08:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful single story home in the popular community of Paloma Del Sol. High ceilings, open flow concept and pride of ownership make this gem so very enticing. Plenty of upgrades including gorgeous stacked stone fireplace, granite counters, extended kitchen counter along with center island, engineered hardwood flooring in some rooms, custom built master bedroom closet and even a tasteful sliding barn door entry to the master bath suite. Lovely fruit trees, newer alumawood patio cover with ceiling lights/fans and no rear neighbors. Newer air conditioner, too! 4 bedrooms total, 2 bathrooms and a 3-car garage. Paloma Del Sol is highly attractive-low taxes, low HOA and award-winning Temecula schools. Some community amenities include: walking trails, five pools, tennis courts, playgrounds and picnic areas. Close proximity to restaurants, shopping, interstates and popular wineries. Call to tour today!

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: Temecula Ranchos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k671k

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

Neighborhood: Temecula Ranchos

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822646

* 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
Helen Hunt Jackson Elementary School Primary Regular 425 16 9
Erle Stanley Gardner Middle School Middle Regular 1,076 41 9
Great Oak High School High Regular 3,621 130 10

Helen Hunt Jackson Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 16
9
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
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,942
Property Tax -$671
Property Insurance -$76
HOA -$101
Property Management Fees -$132
CASH FLOW
-$681

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.

$559,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.9%
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-$10k-$5.0k$0.0$5.0k

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$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,205

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2403$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 32124 Corte Carmona Temecula, CA 2
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.12
    •  
  • 32284 Corte Illora Temecula, CA 1
    • 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,072 Sqft ∙ Built 1998
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 46092 Rocky Trail Lane Temecula, CA 3
    • 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2007
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.09
    •  
  • 32614 Via Destello Temecula, CA 4
    • 3 beds 2 baths ∙ 2,140 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,140 Sqft ∙ Built 2002
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.12
    •  
  • 31888 Jaybee Lane Temecula, CA 5
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 2007
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Mitchell Jones
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21028115
Last Updated: 02/11/2021
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