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42371 Cosmic Drive Temecula, CA 92592

3 Beds 2 Baths 1,444 sqft Built 1985

$520,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $360.11
  • 3 Days on Market
  • MLS # : SW21039891
  • Updated Date : 02/27/2021 at 14:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Assoc Brkr-sc

Listing Agent's Description

Single story home, 3Br/2Ba, offers dining room, den, spacious master bedroom with bath, 2 additional bedrooms, gourmet kitchen, so many upgrades through-out, newer high efficiency replacement windows in 2014, all plumbing lines were replaced in 2012. Great location, close to shopping, medical, entertainment, schools, backyard offers breathtaking view.

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: Alta Vista

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k620k

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

Neighborhood: Alta Vista

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10592474

* 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
Vail Elementary School Primary Regular 580 25 5
Margarita Middle School Middle Regular 862 33 7
Temecula Valley High School High Regular 2,722 103 9

Vail Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 25
5
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
 

$468,000$572,000$520,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,806
Property Tax -$559
Property Insurance -$62
HOA -$15
Property Management Fees -$116
CASH FLOW
-$589

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.

$520,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,550

INVESTMENT

$143,550

Down Payment
$130,000
Rehab Estimate
$5,750
Closing Costs
$7,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,806

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $130,000
Loan Amount $390,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.36

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9703$1,9754$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 42371 Cosmic Drive Temecula, CA 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.36
    •  
  • 42149 Rubicon Circle Temecula, CA 1
    • 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
    •  
  • 30030 Mira Loma Drive Temecula, CA 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1973
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.34
    •  
  • 30288 Mersey Court Temecula, CA 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1988
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.39
    •  
  • 31186 Corte Talvera Temecula, CA 5
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 1988
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.38
    •  
PROPERTY LISTING DETAILS
Selma Moore
Coldwell Banker Assoc Brkr-sc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21039891
Last Updated: 02/27/2021
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