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33300 Alagon Street Temecula, CA 92592

4 Beds 3 Baths 2,009 sqft Built 2003

$499,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $248.38
  • 5 Days on Market
  • MLS # : PW20264504
  • Updated Date : 01/02/2021 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,009 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Best Realty

Listing Agent's Description

HERE IT IS! The Beautiful Detached Home Located In The Gated “Fairways” Community of Prestigious Redhawk, Temecula. This Spacious Home With 4 Bedrooms, 2.5 Baths, 2 Car Garage, Approx. 2,009 Sq. Ft. Of Living Spaces Features Newer Wood Flooring On The 1st. Floor, Fresh Interior Painting, New Quartz Countertop And Island, Abundant Kitchen Cabinetry, And Recessed Lighting. All Bedrooms Have a Walk-In Closet. Especially The Spacious And Airy Master Suite With a Private Bathroom With Shower, Separate Tub, And His And Her Sinks Has a Nice View. Look Out Into the Charming Backyard Where You Can Relax In Privacy Or Entertain A Weekend BBQ For the Family And Friends. Fairways Community Offers Award-Winning Schools Including Great Oak High School, a Short Drive To Wineries, a Top-Rated Redhawk Golf Course, And Pechanga Resort. Oh, Don’t Forget The Nearby Parks, Local Shopping, And Dining. An Excellent Choice For The First Home Buyer Or Investor.

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: 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
Pauba Valley Elementary School Primary Regular 572 23 9
Vail Ranch Middle School Middle Regular 1,149 45 8
Great Oak High School High Regular 3,621 130 10

Pauba Valley Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 23
9
GreatSchools Rating

Vail Ranch Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 45
8
GreatSchools Rating

Great Oak High School

  • Education Level: High
  • # of students: 3,621
  • # of teachers: 130
10
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,841
Property Tax -$599
Property Insurance -$76
HOA -$135
Property Management Fees -$137
CASH FLOW
-$468

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.

$499,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.46%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,382

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,441

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3203$2,4954$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 33300 Alagon Street Temecula, CA 2
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.15
    •  
  • 33184 Puffin Street Temecula, CA 1
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2004
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.15
    •  
  • 44750 Kit Court Temecula, CA 3
    • 5 beds 3 baths ∙ 2,078 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,078 Sqft ∙ Built 1994
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.20
    •  
  • 33031 Garoli Pass Temecula, CA 4
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1998
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 33039 Harmony Lane Temecula, CA 5
    • 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,062 Sqft ∙ Built 1997
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.31
    •  
PROPERTY LISTING DETAILS
Alexander Han
Coldwell Banker Best Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20264504
Last Updated: 01/02/2021
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