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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $308.23
- 2 Days on Market
- MLS # : 210019544
- Updated Date : 07/13/2021 at 10:22
CONSTRUCTION
- Beds : 3
- Floor Size : 2,138 sqft
- Baths : 3 full
Listing Agent
Superb Mtg & Real Estate, Inc.
Listing Agent's Description
RARE OPPORTUNITY !!!!! - Single Story - Pool - 3 Car Garage + RV Parking, Upgraded and NO HOA !!! This home features 9 ft. ceilings, upgraded flooring & remodeled master bath & ceiling fans throughout. Livingroom/dining room combo with dark woodstyle flooring & B/I desk-hutch combo. Kitchen with Corian countertops, and center island. Large familyroom with vaulted ceiling, fireplace & entertainment center. Master bedroom/bath with travertine floors, huge walk-in closet, dual shower heads & custum counter top with double sinks. Backyard offers custom pebble-tec pool with fountain & bench, gas fire pit, B/I BBQ with pergola, & large alumawood patio cover and multiple fruit trees... PLUS gated side yard with RV pad! 3rd bay of tandem garage is currently used as a "hobby area". Note: there is a back (walk-in) gate to the Ralphs shopping center Equipment: Pool/Spa/Equipment Sewer: Sewer Connected Topography: LL
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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
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 | $2,400 |
| EXPENSES | Loan Payment | -$2,289 |
| Property Tax | -$803 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$142 | |
|
CASH FLOW
-$913
|
||
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.
$659,000
PROJECTED PRICE
$2,400
PROJECTED RENT
0.36%
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
$180,385
LOAN DETAILS
$2,289
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $164,750 |
| Loan Amount | $494,250 |
0.17
YEARS SAVED
$77
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,400
LIST RENT -
$1.12
LIST RENT PER SQFT
-
$2,416
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
-
23817 Barberry Place Murrieta, CA 1
- 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 2002
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- Rent
- Rent Per SQFT
- $2,400
- $1.12
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23752 Pepperleaf Street Murrieta, CA 2
- 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2002
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LEASED 10/05/20- Rent
- Rent Per SQFT
- $2,550
- $1.17
-
23918 Cadenza Drive Murrieta, CA 3
- 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
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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
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LEASED 09/12/20- Rent
- Rent Per SQFT
- $2,650
- $1.10
-
23344 Stone Murrieta, CA 5
- 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,417 Sqft ∙ Built 1996
![property image]()
LEASED 02/03/20- Rent
- Rent Per SQFT
- $2,700
- $1.12
PROPERTY LISTING DETAILS
Superb Mtg & Real Estate, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 210019544
Last Updated: 07/13/2021
