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45303 Corte Progreso Temecula, CA 92592

5 Beds 3 Baths 2,574 sqft Built 1998

$569,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $221.06
  • 2 Days on Market
  • MLS # : PTP2001186
  • Updated Date : 11/02/2020 at 14:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,574 sqft
  • Baths : 3 full
Listing Agent

Compass

Listing Agent's Description

Welcome to your own private oasis! This large home is nestled into the well maintained and desirable Redhawk community. This home has a combination of both flow and function. Property 2500 sqft home has 5 bedrooms, 3 bathrooms with a FULL bedroom and bathroom on the main level. Enjoy all the seasons in this fantastic backyard perfect for BBQing and entertaining or relaxing by the pool with the family. Due to elevated topography your backyard offers more Privacy from your neighbors and views of the mountains that many lots do not. The living room features a cozy fireplace and high ceilings with lots of bright natural light. The kitchen is equipped with granite counters, Stainless Steel Appliances and a large kitchen island. The oversized primary bedroom boasts an extra sitting area, walk-in closet, and lovely bathroom. Property is very close to all the major shops and freeways, don't wait!

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: Arbor Glen

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k620k

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

Neighborhood: Arbor Glen

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
Red Hawk Elementary School Primary Regular 524 21 9
Erle Stanley Gardner Middle School Middle Regular 1,076 41 9
Great Oak High School High Regular 3,621 130 10

Red Hawk Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 21
9
GreatSchools Rating

Erle Stanley Gardner Middle School

  • Education Level: Middle
  • # of students: 1,076
  • # of teachers: 41
9
GreatSchools Rating

Great Oak High School

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

$512,100$625,900$569,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,099
Property Tax -$687
Property Insurance -$90
HOA -$35
Property Management Fees -$149
CASH FLOW
-$539

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.

$569,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.1%
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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,099

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,465

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,5204$2,5965$2,650
$2,650
RENT COMPS ANALYSIS
  • 45303 Corte Progreso Temecula, CA 3
    • 5 beds 3 baths ∙ 2,574 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,574 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.98
    •  
  • 45643 Seagull Way Temecula, CA 1
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
  • 45171 Callesito Ordenes Temecula, CA 2
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 1998
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
  • 45479 Hawk Court Temecula, CA 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 2005
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,596
    • $0.99
    •  
  • 32108 Paseo Parallon Temecula, CA 5
    • 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 1991
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Curtis Johnson
Compass
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PTP2001186
Last Updated: 11/02/2020
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