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24006 Crowned Partridge Lane Murrieta, CA 92562

4 Beds 3 Baths 2,414 sqft Built 1998

$499,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $207.08
  • 5 Days on Market
  • MLS # : NDP2003161
  • Updated Date : 12/02/2020 at 18:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,414 sqft
  • Baths : 3 full
Listing Agent

Select California Homes

Listing Agent's Description

Welcome home to your beautiful Quail Ridge 4 bed 3 bath home in Murrieta, Ca. No HOA & Low Taxes! YES, bedroom & full bath downstairs! YES, owned SOLAR. This gorgeous home has been updated and upgraded throughout including an added 150 sqft loft! Luxury vinyl plank flooring throughout downstairs and upstairs, Carrera Marble look tile floors in kitchen with recess lighting and quartz counter tops. Looks and feels like a very high end home. Large backyard and side yard with plenty of room for the kids to play. Oversized 3 car garage with tandem 3rd spot has plenty of room for toys. Large laundry room upstairs. Must see in person to fully appreciate.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Tovashal Elementary School Primary Regular 738 25 7
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Tovashal Elementary School

  • Education Level: Primary
  • # of students: 738
  • # of teachers: 25
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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,844
Property Tax -$504
Property Insurance -$86
Property Management Fees -$140
CASH FLOW
-$204

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.

$499,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$19,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,4003$2,5004$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 24006 Crowned Partridge Lane Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.98
    •  
  • 24700 Pantera Court Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
  • 40463 Jennings Drive Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 23792 Castinette Way Murrieta, CA 4
    • 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 23594 Millstone Place Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sean Hamers
Select California Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2003161
Last Updated: 12/02/2020
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