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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $246.59
- 5 Days on Market
- MLS # : OC21149669
- Updated Date : 07/10/2021 at 16:59
CONSTRUCTION
- Beds : 5
- Floor Size : 2,636 sqft
- Baths : 3 full
Listing Agent
Legacy 15 Real Estate Brokers
Listing Agent's Description
PREMIER LOCATION! This charming home is located in the HIGHLY desirable community of Copper Canyon in West Murrieta! Upgrades galore, this beautiful 5 bedroom, 3 bathroom, 3 car attached garage is what you've been looking for! Light and bright open floor plan offers custom improvements, such as the custom fireplace, chefs kitchen, laminate plank flooring on first floor floor, custom plantation shutters, water softener, brand new June 2021 AC installed, whole house fan installed in 2019, 27 solar panels PAID IN FULL 2x inverters to handle the load, recessed lighting and ceiling fans throughout + MORE. The gorgeous kitchen has a large center island, gas range, granite countertops, custom backsplash and newer stainless-steel appliances. The generous and newly landscaped backyard is perfect for entertaining with the custom built outdoor fireplace and BBQ area. One large main floor bedroom currently being used as an office and a main floor bathroom with a full bathtub and shower. Head upstairs to the generous master bedroom and enjoy the picture windows, vaulted ceilings, custom barn-door leading to bathroom, custom designer bathroom with HEATED FLOORS, and built-in walk in closet. Three more bedrooms upstairs are spacious in size and built-ins in the closets. The laundry room is also on the second level with lots of storage and a built-in sink. The backyard also offers gorgeous low maintenance landscaping w/ full irrigation system, 7 fruit trees w/ custom tree collars, brand new outdoor 8'x6' raised shed, custom upgraded outdoor gates. This home strikes the perfect balance between an entertainer’s dream and a private retreat. Top of the line quality throughout and truly a MUST SEE property, grab your tooth brush and move right in. Close to Cole Canyon Elementary, Murrieta's TOP rated elementary school, shopping, entertainment, restaurants, and more. LOW TAXES AND NO HOA!!
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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
Neighborhood: Copper Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Copper Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,560 |
| EXPENSES | Loan Payment | -$2,258 |
| Property Tax | -$751 | |
| Property Insurance | -$91 | |
| Property Management Fees | -$151 | |
|
CASH FLOW
-$691
|
||
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.
$649,999
PROJECTED PRICE
$2,560
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.6% |
| 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
$178,000
LOAN DETAILS
$2,258
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,500 |
| Loan Amount | $487,499 |
0.58
YEARS SAVED
$1,409
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,560
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,755
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
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- Rent
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- $2,560
- $0.97
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23443 Mountain Breeze Drive Murrieta, CA 1
- 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999
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LEASED 09/25/20- Rent
- Rent Per SQFT
- $2,500
- $1.00
-
23406 Mount Ashland Court Murrieta, CA 3
- 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000
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LEASED 01/26/21- Rent
- Rent Per SQFT
- $2,600
- $0.99
-
37281 Jerome Lane Murrieta, CA 4
- 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1993
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LEASED 04/07/21- Rent
- Rent Per SQFT
- $2,600
- $0.99
-
38078 Sherwood Street Murrieta, CA 5
- 4 beds 3 baths ∙ 2,588 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,588 Sqft ∙ Built 2002
![property image]()
LEASED 10/03/20- Rent
- Rent Per SQFT
- $3,100
- $1.20
PROPERTY LISTING DETAILS
Legacy 15 Real Estate Brokers
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21149669
Last Updated: 07/10/2021
