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45503 Tournament Lane Temecula, CA 92592

4 Beds 3 Baths 2,068 sqft Built 1986

$588,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $284.33
  • 10 Days on Market
  • MLS # : OC21014502
  • Updated Date : 01/30/2021 at 10:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,068 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

In the Rainbow Canyon Estates community of South Temecula is this gorgeous home with an in-ground swimming pool and spa. Enjoy your private oasis with the palapa complete with refrigerated double tap kegerator and gas fire table top. The home has an open layout with an upgraded kitchen including quartz countertops. Most major systems have been replaced in 2018, including new AC/furnace and a new pool/spa heater. Even the roof's underlayment was replaced in 2012! The home is warmed with two fireplaces There is a generous loft that is used as an office, or can be converted back to a 4th bedroom. Three full bathrooms for your growing family - keep cool during the summer with whole house fan and a backyard misting system! Front door faces east. Solar panels keeping your electrical costs to a minimum. Minutes from wineries and shopping - and fast access to the 15 for shorter commutes to San Diego.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Redhawk

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k620k

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

Neighborhood: Redhawk

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
Temecula Luiseno Elementary School Primary Regular 1,013 39 8
Erle Stanley Gardner Middle School Middle Regular 1,076 41 9
Great Oak High School High Regular 3,621 130 10

Temecula Luiseno Elementary School

  • Education Level: Primary
  • # of students: 1,013
  • # of teachers: 39
8
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
 

$529,200$646,800$588,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,042
Property Tax -$617
Property Insurance -$77
HOA -$36
Property Management Fees -$143
CASH FLOW
-$496

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.

$588,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.7%
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-$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$161,570

INVESTMENT

$161,570

Down Payment
$147,000
Rehab Estimate
$5,750
Closing Costs
$8,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,000
Loan Amount $441,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,404

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,4004$2,4205$2,500
$2,500
RENT COMPS ANALYSIS
  • 45503 Tournament Lane Temecula, CA 4
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.17
    •  
  • 44628 La Paz Road Temecula, CA 1
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1973
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 44983 Muirfield Drive Temecula, CA 2
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
  • 45534 Olympic Way Temecula, CA 3
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.16
    •  
  • 45780 Palmetto Way Temecula, CA 5
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1986
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.21
    •  
PROPERTY LISTING DETAILS
David Oleary
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21014502
Last Updated: 01/30/2021
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