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23634 Madison Avenue Murrieta, CA 92562

4 Beds 3 Baths 2,390 sqft Built 2004

$540,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $225.94
  • 3 Days on Market
  • MLS # : IG21057040
  • Updated Date : 03/19/2021 at 15:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,390 sqft
  • Baths : 2 full , 1 half
Listing Agent

Active Realty

Listing Agent's Description

Welcome to the beautiful Corner lot Murrieta home with PAID OFF SOLAR! This home features 4 bedrooms and 2.5 bathrooms. Entering into the front door you will see an open floor plan of a spacious living room, Family room that opens to the large Kitchen with an island and a walk in pantry. Downstairs also has a half bath, laundry area and access to the garage. There is a open den/office and potential 5th bedroom if needed. As you are walking up the stairs to the second floor, you are greeted with large loft and a nook area. The master bedroom has double door entry and is very spacious. The master bathroom has a separate toilet area and its own shower and tub, dual sinks. Don't forget about the large walk in closet that is perfect for his and hers belongings. The other 3 bedrooms are also upstairs with a full size bathroom as well. This home is ready for a special family. Location Location!! You are surrounded by great schools, shopping, Freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,876
Property Tax -$564
Property Insurance -$85
Property Management Fees -$140
CASH FLOW
-$285

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.

$540,000

PROJECTED PRICE

$2,380

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-$5.0k$0.0$5.0k$10k$15k

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$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,876

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$12,287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,611

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,5003$2,6004$2,6505$2,850
$2,850
RENT COMPS ANALYSIS
  • 23634 Madison Avenue Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,390 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.00
    •  
  • 23443 Mountain Breeze Drive Murrieta, CA 2
    • 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 23918 Cadenza Drive Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.13
    •  
  • 23403 Mountain Song Loop Murrieta, CA 4
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
  • 40463 Jennings Drive Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
PROPERTY LISTING DETAILS
Monica Lopez
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21057040
Last Updated: 03/19/2021
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