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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $190.38
- 3 Days on Market
- MLS # : PW20239745
- Updated Date : 11/14/2020 at 20:43
CONSTRUCTION
- Beds : 4
- Floor Size : 2,600 sqft
- Baths : 2 full , 1 half
Listing Agent
T.n.g. Real Estate Consultants
Listing Agent's Description
Welcome to 23691 Ballestros Rd. located in a pristine and quiet neighborhood surrounded by hills. This gorgeous upgraded 4 bedroom, 2.5 bath home has 2,600 sqft. of living space with all the bedrooms located upstairs. Downstairs you will find a large family room, living room, dining room and beautiful kitchen. The remodeled half bath and inside laundry room is down the hall before you enter the 3 car garage. The spacious master bedroom has a romantic fireplace and view of the hills with a beautiful remodeled bathroom with a large walk in closet. The 3 other bedrooms are ample size and there is a full size bathroom that has been recently remodeled. The backyard is beautifully landscaped with a new aluminum patio cover. New double pane Milgard windows throughout. Some of the other newer upgrades include a beautiful stain glass window above the front door, chandelier, air conditioning ducting, heat shield insulation, water softener, dishwasher, smart nest AC and Heat and Smart garage doors. This is a must see home!! Professional pictures coming!
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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
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,600 |
| EXPENSES | Loan Payment | -$1,826 |
| Property Tax | -$559 | |
| Property Insurance | -$90 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$29
|
||
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.
$495,000
PROJECTED PRICE
$2,600
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$136,925
LOAN DETAILS
$1,826
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $123,750 |
| Loan Amount | $371,250 |
5.5
YEARS SAVED
$35,171
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,600
LIST RENT -
$1
LIST RENT PER SQFT
-
$2,613
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
-
23691 Ballestros Road Murrieta, CA 4
- 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $2,600
- $1.00
-
24095 Fuschia Court Murrieta, CA 1
- 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989
![property image]()
LEASED 03/07/20- Rent
- Rent Per SQFT
- $2,350
- $0.90
-
41456 Grand View Drive Murrieta, CA 2
- 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003
![property image]()
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,500
- $1.02
-
23443 Mountain Breeze Drive Murrieta, CA 3
- 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
-
23403 Mountain Song Loop Murrieta, CA 5
- 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
PROPERTY LISTING DETAILS
T.n.g. Real Estate Consultants
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20239745
Last Updated: 11/14/2020
