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23844 Via Barletta Murrieta, CA 92562

3 Beds 2 Baths 1,243 sqft Built 1997

$390,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $313.76
  • 4 Days on Market
  • MLS # : SW21029392
  • Updated Date : 02/11/2021 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,243 sqft
  • Baths : 2 full
Listing Agent

Century 21 Wright

Listing Agent's Description

Beautiful home in The Colony, Murrieta’s sought-after 55+ Adult Community! This popular floorplan starts with a great location with a Large Greenbelt and good size back patio that gives you an Open Feeling of Privacy. Inside features lots of natural light, 2 Bedrooms, 2 Bathrooms, plus a 3rd room (currently configured as an office) that could be a bedroom by adding a closet. Kitchen is nicely laid out with Granite counters and Solid Oak flooring, Upgraded bathrooms, plus a Family room & Dinning area. The Colony offers beautiful amenities with a year-round Pool, 2 Spas, Barbecues with outdoor eating areas, Lighted Tennis, Pickle Ball/Paddle Tennis, Bocce, Billiards, Gym, Grand Ballroom, Movies, Banquets, Dances and Parties, Guarded Gate Entry, 24 Hour Security Patrol, and a privately owned 18 Hole Golf Course makes this one a must see!

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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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k676k

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

Neighborhood: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822805

* 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
Antelope Hills Elementary School Primary Regular 812 32 9
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Antelope Hills Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 32
9
GreatSchools Rating

Shivela Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 52
8
GreatSchools Rating

Murrieta Mesa High School

  • Education Level: High
  • # of students: 2,198
  • # of teachers: 85
8
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,355
Property Tax -$434
Property Insurance -$57
HOA -$252
Property Management Fees -$126
CASH FLOW
-$84

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.

$390,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.72

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9953$1,9954$2,0005$2,140
$2,140
RENT COMPS ANALYSIS
  • 23844 Via Barletta Murrieta, CA 5
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.72
    •  
  • 35758 Whitewood Road Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1984
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.29
    •  
  • 24490 Calle San Vicente Murrieta, CA 2
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.31
    •  
  • 28314 Socorro Street Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2005
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.32
    •  
  • 36044 Toulon Drive Murrieta, CA 4
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
PROPERTY LISTING DETAILS
Robert Stabile
Century 21 Wright
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21029392
Last Updated: 02/11/2021
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