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32227 Corte Parado Temecula, CA 92592

5 Beds 3 Baths 2,526 sqft Built 1996

$575,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $227.63
  • 9 Days on Market
  • MLS # : SW21019629
  • Updated Date : 02/05/2021 at 08:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,526 sqft
  • Baths : 3 full
Listing Agent

Era Donahoe Realty

Listing Agent's Description

Welcome home to this beautifully updated home in the popular Vintage Hill Neighborhood in Temecula, CA! This five bedroom and three bath home just got a fresh new look with brand new wood laminate flooring on the entire bottom level, new neutral interior paint throughout, as wells as freshly painted garage and front doors. Upon entry to the home you are greeted by grand vaulted ceilings and loads of natural light coming into the large formal living/dining room space. The open concept floor plan leads to the oversized eat in kitchen overlooking the family room with a cozy tile surround fireplace. There is a downstairs bedroom and full bath ideal for guests and/or a home office/distance learning space. Upstairs is the master bedroom where the vaulted ceilings continue and feature an attached master bath with dual sinks, separate tub and shower surround, and his and her closets. The remaining upstairs bedrooms share a hallway bath. Enjoy your large private backyard with an established concrete patio and mature landscaping including producing grapefruit, avocado, and orange trees. The large lot also boasts a spacious side yard with plenty of space for a dog run, raised planters, or an added storage unit. The desirable family friendly community has resort style amenities include multiple community pools, jacuzzi, playgrounds, and tennis courts! With low taxes, low HOA, and award winning school district this home will not last long!

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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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,997
Property Tax -$690
Property Insurance -$88
HOA -$90
Property Management Fees -$145
CASH FLOW
-$551

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.

$575,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.43%

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$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$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$2,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,627

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,460
1$2,4602$2,5003$2,5954$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 32227 Corte Parado Temecula, CA 1
    • 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,526 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.97
    •  
  • 32271 Cask Lane Temecula, CA 2
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2016
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 45657 Corte Lobos Temecula, CA 3
    • 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,650 Sqft ∙ Built 1994
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.98
    •  
  • 32962 Monte Temecula, CA 4
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2003
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
  • 46157 Via La Tranquila Temecula, CA 5
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jennifer Pickard
Era Donahoe Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21019629
Last Updated: 02/05/2021
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