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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $249.31
- 4 Days on Market
- MLS # : SW21021735
- Updated Date : 02/06/2021 at 17:36
CONSTRUCTION
- Beds : 4
- Floor Size : 2,162 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Full Realty Svc.
Listing Agent's Description
Welcome to this beautiful POOL/SPA home located in the heart of Murrieta with LOW TAXES and NO HOA!! This home features 4 spacious bedrooms and 2.5 bathrooms, over 2100 sq. ft. with a 3-CAR GARAGE. As you formally enter you will immediately notice the beautiful flooring, high ceilings and open floor plan. The kitchen is set up to entertain with gorgeous dual level granite counter-tops and plenty of cabinetry space including a walk-in-pantry and is open to the family room with views to the pool and spa. The touches this home has make this home very hot!! Upgraded baseboards, flooring, custom barn doors, newer high efficiency HVAC system, pool/spa, new landscaping including artificial turf, vinyl fencing, potential RV parking and SOLAR to name a few. No Rear Neighbors!! Come see this home while you can because this home is expected to go fast!!
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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
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,330 |
| EXPENSES | Loan Payment | -$1,872 |
| Property Tax | -$543 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$137 | |
|
CASH FLOW
-$302
|
||
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.
$539,000
PROJECTED PRICE
$2,330
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$148,585
LOAN DETAILS
$1,872
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $134,750 |
| Loan Amount | $404,250 |
2.58
YEARS SAVED
$11,278
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,330
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,324
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
23615 Kettle Road Murrieta, CA 5
- 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $2,330
- $1.08
-
39421 Dapple Court Murrieta, CA 1
- 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1989
LEASED 10/01/19- Rent
- Rent Per SQFT
- $2,025
- $1.05
-
23617 Spindle Way Murrieta, CA 2
- 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989
LEASED 08/29/19- Rent
- Rent Per SQFT
- $2,150
- $1.05
-
24051 Morning Dove Lane Murrieta, CA 3
- 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996
LEASED 06/23/20- Rent
- Rent Per SQFT
- $2,200
- $1.09
-
40005 Lafayette Drive Murrieta, CA 4
- 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 1998
LEASED 09/12/19- Rent
- Rent Per SQFT
- $2,285
- $1.11
PROPERTY LISTING DETAILS
Century 21 Full Realty Svc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21021735
Last Updated: 02/06/2021
