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32218 Via Flore Temecula, CA 92592

3 Beds 2 Baths 1,769 sqft Built 1994

$449,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $253.82
  • 6 Days on Market
  • MLS # : SW21054550
  • Updated Date : 03/17/2021 at 09:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

Team Forss Realty Group

Listing Agent's Description

Welcome to the highly desireable South Temecula Neighborhood of Paloma Del Sol. This home on a large lot boasts 3 bedrooms, 2 bathrooms and is walking distance to the award winning elementary school, Abby Reinke! The spacious kitchen offers tons of cupboard space and opens to the family room with a fireplace. There are granite counters and stainless steel appliances as well as a granite kitchen island. Slider leads you outside to the lush backyard. There is tile flooring throughout the living area and the master has a remodeled bathroom with oversize walk in granite lined shower and granite encased tub as well as double granite counter sinks. The secondary bathroom is also upgraded with a granite countertop. The home offers the opportunity to invest some sweat equity. The home will be cleaned and photos added on Saturday. This home is walking distance to the community clubhouse, pool, tennis courts and brand new park.

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: Arbor Glen

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k620k

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

Neighborhood: Arbor Glen

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
Red Hawk Elementary School Primary Regular 524 21 9
Erle Stanley Gardner Middle School Middle Regular 1,076 41 9
Great Oak High School High Regular 3,621 130 10

Red Hawk Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 21
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
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,560
Property Tax -$539
Property Insurance -$70
HOA -$101
Property Management Fees -$139
CASH FLOW
-$58

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.

$449,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.1%
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-$5.0k$0.0$5.0k$10k$15k

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2504$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 32218 Via Flore Temecula, CA 5
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.33
    •  
  • 31529 Via San Carlos Temecula, CA 1
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 1996
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.20
    •  
  • 45251 Paseo Durango Temecula, CA 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1995
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.23
    •  
  • 31424 Loma Linda Road Temecula, CA 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1995
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.32
    •  
  • 31925 Via Cordoba Temecula, CA 4
    • 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,894 Sqft ∙ Built 1993
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.21
    •  
PROPERTY LISTING DETAILS
Goran Forss
Team Forss Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21054550
Last Updated: 03/17/2021
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