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42351 Harwick Lane Temecula, CA 92592

4 Beds 3 Baths 2,632 sqft Built 2004

$650,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $246.96
  • 5 Days on Market
  • MLS # : SW20254213
  • Updated Date : 12/09/2020 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,632 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

LOOKING FOR A SINGLE STORY? This fully upgraded and remodeled beautiful pool/spa home is truly amazing. It has a unique desirable floor plan with all the main living area including the Master Bedroom and 2 additional bedrooms on the main level plus a private bedroom and bath and open bonus room on the upper level. Perfect for guests or In-Law Quarters. Gourmet kitchen has rich cherry cabinets with custom glass insets, large island with granite counter tops coordinated with a beautiful custom back splash. Granite sink with custom faucets and a separate custom coffee bar. The open family/great room boasts a vaulted ceiling adding volume and light to the kitchen and features a beautiful built in wine bar flanked by a custom stone veneer fireplace and a fully customized entertainment center. Enjoy outdoor entertaining in your private outdoor oasis including a pebble tech pool and spa with a natural rock waterfall feature. Additional french door from the kitchen was added for convenient access to the outdoor side yard barbecue area. Plenty of outdoor private seating/dining areas enhance this custom landscaped tropical oasis. Additional upgrades include crown moulding throughout, wrought iron stair case, custom tile flooring throughout living areas and custom paint throughout. Remodeled master bath includes large jetted tub and custom stone surround. The upgrades are endless. Great central location close to shopping, wineries, and schools.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Crowne Hill

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k663k

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

Neighborhood: Crowne Hill

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822625

* 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
Crowne Hill Elementary School Primary Regular 639 25 9
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Crowne Hill Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 25
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,398
Property Tax -$722
Property Insurance -$91
HOA -$72
Property Management Fees -$158
CASH FLOW
-$771

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.

$650,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.4%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,665

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,6003$2,6704$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 42351 Harwick Lane Temecula, CA 3
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.01
    •  
  • 42558 Sparks Temecula, CA 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2003
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.94
    •  
  • 32682 Campo Drive Temecula, CA 2
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2003
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.00
    •  
  • 42780 Jolle Court Temecula, CA 4
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2004
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.07
    •  
  • 43493 Dodaro Drive Temecula, CA 5
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2001
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.04
    •  
PROPERTY LISTING DETAILS
Terri Baker
Homesmart
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20254213
Last Updated: 12/09/2020
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