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44896 Melissa Circle Temecula, CA 92592

3 Beds 2 Baths 1,415 sqft Built 1993

$425,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $300.35
  • 5 Days on Market
  • MLS # : IV20229374
  • Updated Date : 11/01/2020 at 19:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Devine Realty Group, Inc.

Listing Agent's Description

This lovely single story home is ideal for an investor! It is currently occupied with a lease in place until 2/28/2022 (see remarks). It is located in a cul-de-sac in the heart of the Vail Ranch Community. It features a formal living room and dining room. The kitchen open up onto the dining area and family room that features a cozy fireplace. Each bedroom has plenty of closet space, the master bedroom features a full bath with dual sinks. The laundry room is before the two car garage entry. The backyard is spacious with plenty of room for any upgrades of your choosing. This house is in Temecula Valley Unified School District. It is close to wine country, local community parks, shopping, and the freeway.

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: Vail Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k614k

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

Neighborhood: Vail Ranch

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
Pauba Valley Elementary School Primary Regular 572 23 9
Vail Ranch Middle School Middle Regular 1,149 45 8
Great Oak High School High Regular 3,621 130 10

Pauba Valley Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 23
9
GreatSchools Rating

Vail Ranch Middle School

  • Education Level: Middle
  • # of students: 1,149
  • # of teachers: 45
8
GreatSchools Rating

Great Oak High School

  • Education Level: High
  • # of students: 3,621
  • # of teachers: 130
10
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,568
Property Tax -$463
Property Insurance -$61
Property Management Fees -$110
CASH FLOW
-$332

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.

$425,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $1,885

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8704$2,1005$2,400
$2,400
RENT COMPS ANALYSIS
  • 44896 Melissa Circle Temecula, CA 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.32
    •  
  • 33602 Emerson Way Temecula, CA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2003
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.28
    •  
  • 33028 Tulley Ranch Road Temecula, CA 2
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1998
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.31
    •  
  • 33657 Emerson Temecula, CA 4
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2003
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.37
    •  
  • 44715 Calle Banuelos Temecula, CA 5
    • 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1993
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.37
    •  
PROPERTY LISTING DETAILS
Karina Devine
Devine Realty Group, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20229374
Last Updated: 11/01/2020
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