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32235 Corte Illora Temecula, CA 92592

5 Beds 3 Baths 2,301 sqft Built 1998

$565,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $245.55
  • 7 Days on Market
  • MLS # : ND21048065
  • Updated Date : 03/13/2021 at 18:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,301 sqft
  • Baths : 3 full
Listing Agent

Capitis Real Estate

Listing Agent's Description

Gorgeous 5 Bedroom 3 Full Bath home, with lease to own Solar, in the beautiful community of Paloma Del Sol! This home, does have a 3rd full bath downstairs with a downstairs bedroom as well, not showing in the tax records. Downstairs Laundry near kitchen! Cathedral Ceiling at entry, with large great room/dining area! Good size kitchen with brand new oven with gas stove top, new dishwasher, new garbage disposal, all stainless steal appliances and custom cabinets. Lots of Granite counter space with breakfast bar and nook. Welcoming family room with fireplace! Open and bright, the home has been fully repainted in last year and all new upstairs carpet. Good size backyard with partially remodeled BBQ area to make into your own! Large Master suite with remaining 3 bedrooms upstairs! Paloma Del Sol is a sought after community with Sparkling pools, walk ways, basket ball courts, parks, and walking distance to all shopping and dining! Also has NEW AC UNIT and upgraded sprinkler system with new panel in place.

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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: 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
 

$508,500$621,500$565,000

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 -$1,962
Property Tax -$593
Property Insurance -$83
HOA -$101
Property Management Fees -$145
CASH FLOW
-$424

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.

$565,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.44%

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$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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,106

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
  • $1.07

    LIST RENT PER SQFT
  • $2,491

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,4504$2,4605$2,650
$2,650
RENT COMPS ANALYSIS
  • 32235 Corte Illora Temecula, CA 4
    • 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.07
    •  
  • 43246 Corte Argento Temecula, CA 1
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 1995
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
  • 32176 Via Arias Temecula, CA 2
    • 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,301 Sqft ∙ Built 1999
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.06
    •  
  • 32815 Tiempo Circle Temecula, CA 3
    • 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,294 Sqft ∙ Built 2003
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.07
    •  
  • 43501 Tirano Drive Temecula, CA 5
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2001
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.11
    •  
PROPERTY LISTING DETAILS
Susannah Levicki
Capitis Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: ND21048065
Last Updated: 03/13/2021
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