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24038 Verdun Lane Murrieta, CA 92562

3 Beds 2 Baths 1,392 sqft Built 1996

$470,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $337.64
  • 3 Days on Market
  • MLS # : SW20238647
  • Updated Date : 11/13/2020 at 19:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

One-of-a-kind single story pool home located just minutes from the I-15 and popular shopping centers. 3 bedroom, 2 bath house just under 1400 square feet with great use of space. The main living area features high ceilings, with an open floor plan. In the summer invite your loved ones over for a bonfire by your poolside fire pit with plenty of outdoor space for entertaining, and in the winter curl up by the fireplace in the living room under high vaulted ceilings. The kitchen features modern style open shelving and gas range stove. House comes with a smart alarm system and cameras already installed for added security. With a heated pool, 2 car garage, laundry room, ample yard space, front lawn, and low maintenance landscape, this house has everything you need! Vinyl fencing will be installed prior to close of escrow.

SEE MORE

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

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
E. Hale Curran School Primary Regular 513 20 7
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

E. Hale Curran School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 20
7
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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,734
Property Tax -$537
Property Insurance -$61
Property Management Fees -$117
CASH FLOW
-$469

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.

$470,000

PROJECTED PRICE

$1,980

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,670

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9253$1,9304$1,9805$2,100
$2,100
RENT COMPS ANALYSIS
  • 24038 Verdun Lane Murrieta, CA 4
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.42
    •  
  • 41199 Vincennes Court Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1995
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.16
    •  
  • 41945 S Davenport Way Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.18
    •  
  • 41905 Davenport Way Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004
    LEASED 06/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.18
    •  
  • 39862 Tanager Trail Murrieta, CA 5
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.28
    •  
PROPERTY LISTING DETAILS
Kimberly Steel
Signature Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20238647
Last Updated: 11/13/2020
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