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23311 Holly Drive Murrieta, CA 92562

4 Beds 2 Baths 2,095 sqft Built 1995

$535,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $255.37
  • 6 Days on Market
  • MLS # : OC20232301
  • Updated Date : 11/03/2020 at 16:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,095 sqft
  • Baths : 2 full
Listing Agent

Regency Real Estate Brokers

Listing Agent's Description

Lovely single-story beauty with huge lot in desirable Bear Valley community on the west side of Murrieta. Double door entry to open floor plan which includes formal living room and dining room both with plantation shutters and crown molding. Separate family room with fireplace and ceiling fan. Great room kitchen with center island, generous cabinetry and granite counter tops. Also features nook area and bar seating. (3) large secondary bedrooms (one currently used as office). Master suite complete with massive walk-in closet and additional 2nd closet, dual sinks, oversized tub and separate walk-in shower. Includes direct access to rear yard. Neutral tile, new vinyl plank flooring, new carpet and fresh paint throughout. Nine-foot ceilings with loads of natural light. Ceiling fans in all bedrooms. Private 15,000+ sqft. flat lot with covered patio, gazebo, storage shed, garden arbor and grape vines. Minutes from Bear Valley Park. Highly rated schools in Cole Canyon Elementary and Murrieta Valley HS. No HOA and low taxes.

SEE MORE

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: Copper Canyon

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Copper Canyon

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
Cole Canyon Elementary School Primary Regular 1,105 39 9
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Cole Canyon Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 39
9
GreatSchools Rating

Thompson Middle School

  • Education Level: Middle
  • # of students: 1,665
  • # of teachers: 56
6
GreatSchools Rating

Murrieta Valley High School

  • Education Level: High
  • # of students: 2,440
  • # of teachers: 93
8
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,974
Property Tax -$618
Property Insurance -$78
Property Management Fees -$135
CASH FLOW
-$515

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.

$535,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,263

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2903$2,3004$2,3005$2,550
$2,550
RENT COMPS ANALYSIS
  • 23311 Holly Drive Murrieta, CA 2
    • 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.09
    •  
  • 37299 Jerome Murrieta, CA 1
    • 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,175 Sqft ∙ Built 1993
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 37367 Huckaby Lane Murrieta, CA 3
    • 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 1993
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 23231 Joaquin Ridge Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1988
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 23752 Pepperleaf Street Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2002
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.17
    •  
PROPERTY LISTING DETAILS
Doug Harris
Regency Real Estate Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20232301
Last Updated: 11/03/2020
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