40603 Melrose Drive
About This Property
The open living and dining areas create a warm, welcoming atmosphere ideal for relaxing or entertaining. Step outside to your private patio-perfect for morning coffee or evening gatherings. Conveniently located near shopping, dining, award-winning schools, wineries, and major commuter routes, this home offers the best of Temecula living.
Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this charming condo is a fantastic opportunity to own in one of Temecula's most desirable areas. Don't miss your chance to make this wonderful home your own!
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Feb 20, 2026 | Sold | ||
| Sold | |||
| Jan 22, 2026 | In contract | - | |
| In contract | |||
| Jan 8, 2026 | Listed by Abundance Real Estate | $565,000 | |
| Listed by Abundance Real Estate | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
01/08/2026
| |
3 Bed
|
2 Bath
|
1698 ft²
|
$565,000
3 Bed
2 Bath
1698 ft²
|
$570,000
+0.88%
02/20/2026
|
Nicholas Anselmo
Abundance Real Estate
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017