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32244 Corte Chatada Temecula, CA 92592

4 Beds 3 Baths 2,923 sqft Built 1990

$645,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $220.66
  • 4 Days on Market
  • MLS # : SW21024129
  • Updated Date : 02/05/2021 at 05:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,923 sqft
  • Baths : 3 full
Listing Agent

Matics Realty Inc

Listing Agent's Description

Hard to find Vintage Hills location. Bonus room plus 4 bedroom home on large lot. Main floor bedroom. WILL NOT LAST! New kitchen cabinets/counter tops, stainless cook top and dishwasher. New LED lighting. New flooring and inside paint. New front and side vinyl fencing. New garage doors with new operator on dual garage side. New front landscaping and fresh sod in rear yard. Newer 75 gallon water heater with circulation system. Dual HVAC with one new compressor.

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
 

$580,500$709,500$645,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,240
Property Tax -$774
Property Insurance -$98
HOA -$90
Property Management Fees -$155
CASH FLOW
-$737

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.

$645,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.41%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5454$2,6205$2,900
$2,900
RENT COMPS ANALYSIS
  • 32244 Corte Chatada Temecula, CA 4
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.90
    •  
  • 32604 Caminito Rosada Temecula, CA 1
    • 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,849 Sqft ∙ Built 1998
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 45649 Calle Ayora Temecula, CA 2
    • 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,909 Sqft ∙ Built 1994
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
  • 45550 Seagull Way Temecula, CA 3
    • 3 beds 4 baths ∙ 2,847 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,847 Sqft ∙ Built 2005
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.89
    •  
  • 32953 Caminito Lorca Temecula, CA 5
    • 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2008
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.99
    •  
PROPERTY LISTING DETAILS
Richard Matics
Matics Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21024129
Last Updated: 02/05/2021
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