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46264 Grass Meadow Way Temecula, CA 92592

4 Beds 3 Baths 2,780 sqft Built 2007

$689,900

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $248.17
  • 6 Days on Market
  • MLS # : OC21149094
  • Updated Date : 07/12/2021 at 12:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Aria Financial, Inc.

Listing Agent's Description

Great Home in the beautiful Wolf Creek community walking distance from Pechanga. This beautiful turnkey 4 bedroom, 3 bath home is 2 story and has lots of upgrades, tile wood floors thru-out the downstairs. Kitchen has granite countertops, medium cherry wood cabinets and stainless steel appliances including 5 burner gas top, microwave and double oven. Separate breakfast area between family room and kitchen. Family room with gas log, red brick fireplace with raised hearth and surround sound system speakers in ceiling. Study area or formal dinning room off the main hall. Large separate living room of entry. Large master bedroom with two walk in closets; his/hers vanity; large bath tub in master with separate shower and water closet. Three upstairs bedrooms and separate bath off the main hallway with dual sinks and shower/tub. Three car tandem garage with room for cabinets and work bench. Fully landscaped backyard, covered patio, block walls, auto sprinklers. WOLF CREEK HAS MANY AMENITIES TO ENJOY, POOL, GYM, AND PLAYGROUND, CLOSE TO GREAT OAK HIGH SCHOOL

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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: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k707k

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

Neighborhood: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822674

* 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
 

$620,910$758,890$689,900

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$2,396
Property Tax -$705
Property Insurance -$94
HOA -$50
Property Management Fees -$155
CASH FLOW
-$780

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.

$689,900

PROJECTED PRICE

$2,620

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.9%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,574

INVESTMENT

$188,574

Down Payment
$172,475
Rehab Estimate
$5,750
Closing Costs
$10,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,396

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,475
Loan Amount $517,425
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,912

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,620
1$2,6202$2,8503$2,9004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 46264 Grass Meadow Way Temecula, CA 1
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.94
    •  
  • 46008 Paseo Gallante Temecula, CA 2
    • 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 1998
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.04
    •  
  • 46157 Via La Tranquila Temecula, CA 3
    • 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.10
    •  
  • 46288 Yellowstone Lane Temecula, CA 4
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2007
    LEASED 07/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.04
    •  
  • 45769 Cloudburst Lane Temecula, CA 5
    • 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 2007
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Todd Ross
Aria Financial, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21149094
Last Updated: 07/12/2021
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