Thursday, July 17, 2008

The Deal of the Century

Well, maybe not the century, but definitely the decade.

We owned two just like it, one on the same street. The floor plan is wonderful, but the lot is the size of a postage stamp--literally (Z lot--meaning that eves from this house and one next door over lap with each other). The one we bought on this street was our very first rental. We paid $187,000 in 2000, including the upgrades, and sold it in 2005 for $385,000. The other one had an even smaller lot, but we bought it for $193,000 in 2000 and sold it in 2005 for $405,000. The other one was harder to sell because it was still occupied by tenants whose lease was about to expire. Too bad we spent our profit on rotten apartments.

The one on this street rented for between $1,695 and $1,795 (private with slightly bigger lot) and the other one $100 less. It's in a tiny gated community with a pool and playground directly in the heart of town right between elementary and middle schools--both within walking distance. Taxes were a low 1.03% and the HOA was $109 at the time it sold. HOA fees pay for front yard (not much of one) maintenance.

If I could, I'd snap this up in a heartbeat. It's probably too late already, as most in the neighborhood are listed for mid to high $200's.

Check it out:

42090 Calabria DR, TEMECULA, 92591, CA
Price $199,000

MLS #: H08090675
Year Built: 2000
House size: 1,985 sq. feet
Lot size: 3,484 sq. feet
Status: Active
Bedrooms: 4
Bathrooms: 3.00
TG#: 959A5
APN: 921790011
Pool: Y
Spa: Y
View: N
Area: 209 - Temecula-North
Type: Single Family Residence / Detached

Property Description
This great home located in the Sycamore Creek Gated Community, home shows light and bright, open floor plan, formal living room, formal dining room, kitchen with eating area, open to a large family room. All bedrooms on 2nd floor with an office area at the top of the stairs. Upstairs Laundry room, 2-car garage attached, long side driveway for extra parking. Located by the kids' park, guest parking, and community pool.