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45570 Merona Court Temecula, CA 92592

4 Beds 3 Baths 2,758 sqft Built 1999

$608,999

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $220.81
  • 9 Days on Market
  • MLS # : SW20226502
  • Updated Date : 10/31/2020 at 15:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

Welcome home to this executive home located in The Eagle Point Community of Redhawk in South Temecula. This home is located on a double culdesac with only one neighbor. As you enter the home you are greeted with a soaring two-story entryway and grand dining room with staircase. Main floor living room or den. The gourmet kitchen offers an eat-up island open to your spacious breakfast nook area and to the spacious family room accompanied by the gas fireplace and TV niche. The Master bedroom offers a sitting area and upgraded master bath with tiled flooring. Spacious secondary bedrooms with large closets and one bedroom with an extra walk-in storage area that you enter through the closet area. Upgraded newer carpet. Fresh and neutral paint color throughout and upgraded baseboards. Spacious back yard with covered pergola and fountain with water feature, putting green, and grow your very own organic vegetables in your garden. Close to Temecula's award-winning schools including Great Oak High School. Nearby shopping, golf courses, and Temecula Wineries.

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: Temecula Ranchos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k671k

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

Neighborhood: Temecula Ranchos

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822646

* 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
Helen Hunt Jackson Elementary School Primary Regular 425 16 9
Vail Ranch Middle School Middle Regular 1,149 45 8
Great Oak High School High Regular 3,621 130 10

Helen Hunt Jackson Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 16
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
 

$548,099$669,899$608,999

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,247
Property Tax -$731
Property Insurance -$94
HOA -$36
Property Management Fees -$147
CASH FLOW
-$765

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.

$608,999

PROJECTED PRICE

$2,490

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.9%
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-$15k-$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$167,135

INVESTMENT

$167,135

Down Payment
$152,250
Rehab Estimate
$5,750
Closing Costs
$9,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,247

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,250
Loan Amount $456,749
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,737

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4903$2,6004$2,9005$2,975
$2,975
RENT COMPS ANALYSIS
  • 45570 Merona Court Temecula, CA 2
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.90
    •  
  • 33239 Poppy Street Temecula, CA 1
    • 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,559 Sqft ∙ Built 2004
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 45309 Quail Crest Drive Temecula, CA 3
    • 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 2000
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
  • 32953 Caminito Lorca Temecula, CA 4
    • 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2008
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.99
    •  
  • 33294 Barmetta Lane Temecula, CA 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2017
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kimberly Meeker
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20226502
Last Updated: 10/31/2020
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