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23575 Madison Avenue Murrieta, CA 92562

5 Beds 3 Baths 2,715 sqft Built 2001

$534,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $197.02
  • 7 Days on Market
  • MLS # : SW20227380
  • Updated Date : 11/02/2020 at 17:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,715 sqft
  • Baths : 3 full
Listing Agent

Corcoran Global Living

Listing Agent's Description

Welcome to this Highly Upgraded, 5 bedroom, 3 Bath, 3 car garage, TURN-KEY home nestled in a Prime Location in Murrieta, not to mention LOW TAXES & NO HOA! This 5 bedroom home features an open floor plan with Stunning Wood Laminate Flooring, a full bedroom/ bathroom downstairs, Spacious Master Suite and a recently renovated Kitchen! Upon entering you’re greeted with Vaulted Ceilings in a spacious formal living space & Separate Dining Room as well! The Brand New Kitchen features a Large Butcher Block Island, Quartz Counters w/matching backsplash, Floating Shelves and high end Hood. The family room next to the kitchen is home to a cozy tile faced fireplace and large windows to the private backyard! The second story features the Master Suite & 3 large guest bedrooms. The Master Suite is very large with sliding barn door, Fully Remodeled Bathroom with Stand Alone Tub & Upgraded Shower, Dual Sinks and a Deep Walk in! All 3 other rooms are generously sized w/ large closets! The backyard is extremely large with no neighboring home behind. The back features New Concrete, covered patio, Pool Sized Lot and a private courtyard. Don’t miss out on this Highly Upgraded, RARE floor plan!

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

Zip Code: 92562

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Zip Code: 92562

ZipNIR 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
Tovashal Elementary School Primary Regular 738 25 7
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Tovashal Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 25
7
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
 

$481,410$588,390$534,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,974
Property Tax -$655
Property Insurance -$93
Property Management Fees -$140
CASH FLOW
-$491

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.

$534,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
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$147,499

INVESTMENT

$147,499

Down Payment
$133,725
Rehab Estimate
$5,750
Closing Costs
$8,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $133,725
Loan Amount $401,175
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,369

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,3753$2,3754$2,4005$2,750
$2,750
RENT COMPS ANALYSIS
  • 23575 Madison Avenue Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,715 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,715 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.87
    •  
  • 23586 Red Oak Lane Murrieta, CA 2
    • 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2003
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.85
    •  
  • 41427 Iona Circle Murrieta, CA 3
    • 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,850 Sqft ∙ Built 1989
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.83
    •  
  • 40760 Robards Way Murrieta, CA 4
    • 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 40886 Bouvier Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Garrett Brookman
Corcoran Global Living
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20227380
Last Updated: 11/02/2020
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