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41100 Camino Corto Temecula, CA 92591

3 Beds 2 Baths 1,120 sqft Built 1977

$358,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1977
  • Price/Sqft : $319.64
  • 5 Days on Market
  • MLS # : WS20229558
  • Updated Date : 11/02/2020 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,120 sqft
  • Baths : 2 full
Listing Agent

Century 21 Masters

Listing Agent's Description

Great Family Home. This home offers 3 bedrooms, 2 bathrooms with a large backyard, with many upgrades including new wood laminate flooring and stainless-steel appliances. The light and bright kitchen is open to the living area and sliding patio door leads to the pool size backyard make it your own oasis, low maintenance with turf grass and new cement. Water filtration throughout the house and central air a plus the detached garage has a rear roll up door for drive thru. Good location and near Temeku Hills Park.

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: Meadowview

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Meadowview

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822921

* 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
Rancho Elementary School Primary Regular 531 20 8
Margarita Middle School Middle Regular 862 33 7
Temecula Valley High School High Regular 2,722 103 9

Rancho Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 20
8
GreatSchools Rating

Margarita Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 33
7
GreatSchools Rating

Temecula Valley High School

  • Education Level: High
  • # of students: 2,722
  • # of teachers: 103
9
GreatSchools Rating
 

$322,200$393,800$358,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,321
Property Tax -$416
Property Insurance -$54
HOA -$58
Property Management Fees -$99
CASH FLOW
-$328

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.

$358,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,620

INVESTMENT

$100,620

Down Payment
$89,500
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,321

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,500
Loan Amount $268,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,8503$1,9504$1,9505$2,050
$2,050
RENT COMPS ANALYSIS
  • 41100 Camino Corto Temecula, CA 1
    • 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,120 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.45
    •  
  • 31548 Corte Salinas Temecula, CA 2
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1988
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.50
    •  
  • 42149 Rubicon Circle Temecula, CA 3
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.39
    •  
  • 42029 Roanoake Street Temecula, CA 4
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1987
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.39
    •  
  • 31070 Camino Del Este Temecula, CA 5
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1975
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.50
    •  
PROPERTY LISTING DETAILS
Michael Yue
Century 21 Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20229558
Last Updated: 11/02/2020
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