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45640 Olympic Way Temecula, CA 92592

4 Beds 2 Baths 1,946 sqft Built 1986

$549,900

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $282.58
  • 16 Days on Market
  • MLS # : SW21020056
  • Updated Date : 02/12/2021 at 12:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

This charmer single story home featuring 4 BDR/2 BA, 1,946 sq.ft. Turnkey home with tons of upgrades throughout: freshly painted interior, tiled flooring, upgraded new windows and sliding doors, remodeled bathrooms, new water heater 2018, newer A/C replaced in 2015. Recently replaced pool equipment 2017. Delightful completely remodeled kitchen, corian counter tops, stainless steel appliances open to a family room with wood burning stove and wet bar. Entertainers delight huge backyard with low maintenance landscaping, large Alumawood patio cover and sparkling pool/spa with slider and storage shed. Enjoy this home and all the amenities it has to offer! This is a home where memories were meant to be created, shared & treasured for years to come! This house located in Rainbow Canyon Village Community, just minutes from the I-15 freeway and walking distance to Award Winning schools. Low HOA Fees and Low property tax!

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: 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
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,910
Property Tax -$577
Property Insurance -$74
HOA -$36
Property Management Fees -$135
CASH FLOW
-$452

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.

$549,900

PROJECTED PRICE

$2,280

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

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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,282

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,2804$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 45640 Olympic Way Temecula, CA 3
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.17
    •  
  • 30712 E Loma Linda Road Temecula, CA 1
    • 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 1999
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
  • 44628 La Paz Road Temecula, CA 2
    • 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,889 Sqft ∙ Built 1973
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.11
    •  
  • 44983 Muirfield Drive Temecula, CA 4
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1997
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
  • 45600 Rainbow Canyon Road Temecula, CA 5
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1985
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.30
    •  
PROPERTY LISTING DETAILS
Tatyana Mitchiner
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21020056
Last Updated: 02/12/2021
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