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43105 Corte Salamanca Temecula, CA 92592

3 Beds 3 Baths 1,508 sqft Built 1993

$485,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $321.62
  • 4 Days on Market
  • MLS # : SW20250894
  • Updated Date : 12/03/2020 at 15:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Tried finding a Pool Home in Temecula for less than $485,000? It's darn near impossible; a quick glance at the MLS shows that there are currently ZERO homes with a private Pool under this price range. Yup, that's right. Until now...This 3 bedroom, 2.5 bath POOL home is fresh and clean and ready for a new home owner. Paloma del Sol is one of the best communities in the Temecula area. The community features nearly 100 acres of Parks, tot lots, play grounds and has tennis courts, basketball courts and plenty of walking trails, not to mention 5 community pools spread throughout. Best part? This home is at the END of a cul-de-sac and it is RIGHT NEXT TO THE PARK. SCORE! Heck if you're sporty and such, you could probably even throw a frisbee disc from your front yard and hit one of the Disc Golf nets. Inside the home, it looks like a model; with beautiful paint and flooring throughout. The kitchen has granite counters and stainless steel appliances and is open to the family room. If you work from home, you'll love the fact that the current owner created a workspace area in the garage. Upstairs the rooms are nicely painted. The Master bedroom is spacious and the bathroom has been recently remodeled. If you have school aged little humans, you'll be happy to know this home is in the Temecula School district with schools such as; Temecula Valley HS, Temecula MS, and Paloma ES. HOA is just $101/mo and the tax rate is super low at approximately 1.192%. See it, love it, buy it!

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: Paloma del Sol

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Paloma del Sol

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
Paloma Elementary School Primary Regular 604 23 8
Temecula Middle School Middle Regular 1,173 43 7
Temecula Valley High School High Regular 2,722 103 9

Paloma Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 23
8
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
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,789
Property Tax -$509
Property Insurance -$64
HOA -$101
Property Management Fees -$122
CASH FLOW
-$525

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.

$485,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,628

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,047

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,060
1$2,0602$2,1003$2,1754$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 43105 Corte Salamanca Temecula, CA 1
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.37
    •  
  • 43116 Camino Casillas Temecula, CA 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 1991
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 31890 Calle Ballentine Temecula, CA 3
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.31
    •  
  • 43450 Via Barrozo Temecula, CA 4
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 1994
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.35
    •  
  • 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
John Butler
Signature Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20250894
Last Updated: 12/03/2020
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