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40142 Medford Road Temecula, CA 92591

5 Beds 3 Baths 2,544 sqft Built 2007

$549,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $215.80
  • 4 Days on Market
  • MLS # : SW20229175
  • Updated Date : 11/01/2020 at 07:05
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,544 sqft
  • Baths : 3 full
Listing Agent

Century 21 Award-tem Redhawk

Listing Agent's Description

If you have been looking for the perfect home in the highly desirable Harveston Community, look no further! This 4-bedroom, 3 full bath home boasts 2,544 sq ft of living space with a downstairs bedroom perfect as a guest bedroom or in-law suit in addition to an enclosed bonus room upstairs that can be used as a 5th bedroom (just needs a closet). As you enter the home, you will be greeted by a beautiful, comfortable formal living and dining room with newer LVP and plush carpeting! The eat in kitchen features a large granite island, stainless steel appliances, and gorgeous espresso cabinetry. Enjoy the master bedroom with french doors leading to the balcony overlooking the backyard. Master bathroom is large and decorated with a beautiful barn wood style wall. You will love the convenience of having your laundry room located upstairs with utility sink. Additional added features include: a new whole house fan, freshly painted interior, oversized built in BBQ, Fire pit and a combination of faux wood blinds and plantation shutters. Low maintenance front and backyard. This home is located minutes from Temecula wine country, the Promenade Mall, 15 freeway, and award winning Elementary, Middle School and High Schools. There are walking trails throughout the neighborhood, a 17-acre lake park, multiple children's play areas, a community clubhouse, junior Olympic pool with children's splash park, and a 19-acre sports park.

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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: Harveston

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Harveston

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
Ysabel Barnett Elementary School Primary Regular 941 35 8
James L. Day Middle School Middle Regular 994 38 8
Chaparral High School High Regular 3,237 120 9

Ysabel Barnett Elementary School

  • Education Level: Primary
  • # of students: 941
  • # of teachers: 35
8
GreatSchools Rating

James L. Day Middle School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 38
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 3,237
  • # of teachers: 120
9
GreatSchools Rating
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,026
Property Tax -$659
Property Insurance -$89
HOA -$96
Property Management Fees -$149
CASH FLOW
-$498

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.

$549,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.8%
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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,671

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5203$2,6004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 40142 Medford Road Temecula, CA 2
    • 5 beds 3 baths ∙ 2,544 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,544 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.99
    •  
  • 28769 Edenton Way Temecula, CA 1
    • 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 2005
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
  • 40195 Pasadena Temecula, CA 3
    • 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,442 Sqft ∙ Built 2004
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.06
    •  
  • 40344 Balboa Drive Temecula, CA 4
    • 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,443 Sqft ∙ Built 2005
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.06
    •  
  • 28898 Newport Road Temecula, CA 5
    • 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,578 Sqft ∙ Built 2004
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
PROPERTY LISTING DETAILS
Heidi Bowser
Century 21 Award-tem Redhawk
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20229175
Last Updated: 11/01/2020
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