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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $355.86
- 2 Days on Market
- MLS # : SW21000350
- Updated Date : 01/02/2021 at 08:34
CONSTRUCTION
- Beds : 4
- Floor Size : 2,585 sqft
- Baths : 4 full
Listing Agent
Elite Properties Direct
Listing Agent's Description
From the moment you enter this beautifully remodeled and upgraded Wine Country home in Glen Oak Hills, you will be drawn to its open floor plan featuring panoramic views of the Temecula Valley. High up on Chaparral Drive, you will have sweeping views of vineyards, hot air balloons and distant mountains. Enjoy the quiet, peace and safety of this special place. This is a perfect family home, vacation get-away spot, or rental property. Completely remodeled gourmet kitchen w/ granite countertops, new SS appliances, and two kitchen islands. Second island and breakfast nook each seat six with amazing views from every seat. Down the hallway you’ll find the largest Master bedroom, featuring a sliding glass door to the back patio, walk-in closet and a beautifully remodeled master bath with dual vanities & walk-in shower. The split-level of the home offers two additional spacious master bedrooms each with private ensuite baths. Main floor fourth bedroom / office has adjacent remodeled hall bath with shower/tub combo. The large covered back patio offers a tranquil space with fountains to entertain & enjoy the beautiful sunsets. Rare view property with usable land for horses or an ADU. Other features include: new HVAC system, open floor plan with vaulted ceilings, two fireplaces, new paint throughout, all new windows with high-end sun filtering shades, circular driveway, three car garage, and so much more. *Ask your realtor for the upgrades list.
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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
Zip Code: 92592
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92592
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,490 |
| EXPENSES | Loan Payment | -$3,394 |
| Property Tax | -$882 | |
| Property Insurance | -$90 | |
| HOA | -$46 | |
| Property Management Fees | -$206 | |
|
CASH FLOW
-$1,127
|
||
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.
$919,900
PROJECTED PRICE
$3,490
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$249,524
LOAN DETAILS
$3,394
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $229,975 |
| Loan Amount | $689,925 |
0.42
YEARS SAVED
$1,497
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,490
LIST RENT -
$1.35
LIST RENT PER SQFT
-
$3,309
COMP ESTIMATED VALUE -
$1.28
COMP AVG. RENT PER SQFT
Comps Range
-
41233 Chaparral Drive Temecula, CA 2
- 4 beds 4 baths ∙ 2,585 Sqft ∙ Built 1987 4 beds 4 baths ∙ 2,585 Sqft ∙ Built 1987
![property image]()
- Rent
- Rent Per SQFT
- $3,490
- $1.35
-
41519 Cruz Way Temecula, CA 1
- 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 1988
![property image]()
LEASED 07/15/19- Rent
- Rent Per SQFT
- $3,000
- $1.28
PROPERTY LISTING DETAILS
Elite Properties Direct
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21000350
Last Updated: 01/02/2021
