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32869 Verona Court Temecula, CA 92592

3 Beds 3 Baths 1,790 sqft Built 2000

$525,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $293.30
  • 2 Days on Market
  • MLS # : IG20262803
  • Updated Date : 01/02/2021 at 14:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,790 sqft
  • Baths : 2 full , 1 half
Listing Agent

Intero Real Estate Services

Listing Agent's Description

Enjoy this charming 3 bedroom, 2.5 Bath Home located on a private cul de sac in the desired Paseo Del Sol Community. From the entry and throughout, the home features pastel colors, laminate wood flooring, ceiling light fixtures, smooth ceiling recessed lighting, a master retreat with spacious closet. The family room is very spacious, cozy and has a feeling of warmth to it. It opens up to the backyard with your own private swimming pool, spa, BBQ island and much more to list all. Come view this Model of a Home with a Resort style backyard. A MUST SEE!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paseo del Sol

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k620k

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

Neighborhood: Paseo 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
Abby Reinke Elementary School Primary Regular 815 33 9
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Abby Reinke Elementary School

  • Education Level: Primary
  • # of students: 815
  • # of teachers: 33
9
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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,937
Property Tax -$551
Property Insurance -$71
HOA -$102
Property Management Fees -$141
CASH FLOW
-$411

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.

$525,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.4%
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$15k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$7,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,385

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1753$2,2254$2,2505$2,390
$2,390
RENT COMPS ANALYSIS
  • 32869 Verona Court Temecula, CA 5
    • 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,790 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.34
    •  
  • 31910 Calle Redondela Temecula, CA 1
    • 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,657 Sqft ∙ Built 1994
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.24
    •  
  • 31890 Calle Ballentine Temecula, CA 2
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.31
    •  
  • 32495 Bergamo Court Temecula, CA 3
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 1999
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $1.37
    •  
  • 42652 Drennon Court Temecula, CA 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2003
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.41
    •  
PROPERTY LISTING DETAILS
Alejandro Carmona
Intero Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20262803
Last Updated: 01/02/2021
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