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23930 Cadenza Drive Murrieta, CA 92562

5 Beds 3 Baths 2,626 sqft Built 1994

$599,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $228.45
  • 4 Days on Market
  • MLS # : SW21045960
  • Updated Date : 03/04/2021 at 20:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,626 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

ABSOLUTELY BEAUTIFUL 5 Bedroom Home in the highly desired area of West Murrieta! Beauty Abounds in this spacious home. Grand Entry with Formal Living and Dining Room, Family Room with Cozy Fireplace. Gourmet Kitchen with Granite Counters and Eating Area. One Main Level Bedroom and Bath. Upstairs you will find 3 additional Bedrooms plus the Grand Owner Suite with private door to the incredible Deck that overlooks the beautiful Pool. This home has so many additional features you just wouldn't want to miss! An upstairs loft that could be used for home office, crafting, playroom or use your imagination! Live the life of entertainment in the Back Yard, complete with Sparkling Pool, BBQ, Firepit, Solar Panels and for those of you who love to travel... RV PARKING is here! Well located in West Murrieta. NO HOA and LOW TAXES! AN ABSOLUTE MUST SEE! Watch the VIRTUAL TOUR to see some VIRTUAL STAGING!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Murrieta Elementary School Primary Regular 830 29 7
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Murrieta Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 29
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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,084
Property Tax -$669
Property Insurance -$91
Property Management Fees -$148
CASH FLOW
-$491

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.

$599,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.42%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,619

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 23930 Cadenza Drive Murrieta, CA 3
    • 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 24077 Orleans Lane Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1998
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
  • 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
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 23406 Mount Ashland Court Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 23897 Constantine Drive Murrieta, CA 5
    • 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Susan Johnson
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21045960
Last Updated: 03/04/2021
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