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32392 Corte Palacio Temecula, CA 92592

5 Beds 2 Baths 2,530 sqft Built 1993

$599,999

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $237.15
  • 3 Days on Market
  • MLS # : 20667550
  • Updated Date : 12/04/2020 at 18:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,530 sqft
  • Baths : 2 full
Listing Agent

John Reeves

Listing Agent's Description

This spectacular single level home is perfectly appointed, turn-key & ready for you to move right in. The spacious open floorplan, beautiful laminate flooring throughout, double-sided fireplace, & vaulted ceilings create the perfect combination for year-round entertaining. The exquisite master bedroom includes an ensuite bath, large closets, & access to the resort-style back yard with pool, spa, sundeck & privacy. The easy-care landscaping & large 2 car garage add to your enjoyment & security. Call 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: Margarita Village - Temeku Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Margarita Village - Temeku Hills

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
Vintage Hills Elementary School Primary Regular 745 29 8
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Vintage Hills Elementary School

  • Education Level: Primary
  • # of students: 745
  • # of teachers: 29
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
 

$539,999$659,999$599,999

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,214
Property Tax -$630
Property Insurance -$88
HOA -$90
Property Management Fees -$153
CASH FLOW
-$585

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.

$599,999

PROJECTED PRICE

$2,590

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.5%
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-$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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,555

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5004$2,5905$2,600
$2,600
RENT COMPS ANALYSIS
  • 32392 Corte Palacio Temecula, CA 4
    • 5 beds 2 baths ∙ 2,530 Sqft ∙ Built 1993 5 beds 2 baths ∙ 2,530 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.02
    •  
  • 42558 Sparks Temecula, CA 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 41608 Corte Seda Temecula, CA 2
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1995
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 41614 Corte Pergamino Temecula, CA 3
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1996
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 32682 Campo Drive Temecula, CA 5
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2003
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
John Reeves
John Reeves
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20667550
Last Updated: 12/04/2020
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