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24056 Huntridge Drive Murrieta, CA 92562

4 Beds 3 Baths 2,447 sqft Built 1991

$549,500

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $224.56
  • 19 Days on Market
  • MLS # : SW20257100
  • Updated Date : 01/01/2021 at 19:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,447 sqft
  • Baths : 3 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

***Located in the Westside of Murrieta** Gorgeous 4 Bedroom 3 Bath home has everything! Step into Your Home, you are Greeted with Tall Ceilings Over the Formal Living /Dining Rooms. Then Walk Through the Open-plan Kitchen, That Has Granite Countertops, Matching Appliances, and Island that is perfect for a Quick Bite /Coffee Station. The Spacious Family Room Has Surrounding Windows And a gas-burning Fireplace. The Sliding Backdoor from The Family Room, Takes You to A Well-Manicured Backyard with Assorted Palms, Which Has All the Amenities. A “Shaded” Open Patio with A Built-in Barbecue, A Full-Size Pool with Hot Spa with Plenty of Room for Your Hammock / Pool Furniture. You Will Also See on The Main Level, A Bedroom/Office, and a Bathroom with a Shower, Indoor Laundry Room, Cabinets, and a Sink. Upstairs See the Spacious Master Bedroom and Bath, Complete with a Fireplace, Dual Sinks, and a Walk-In Closet. Master has Views of Your Backyard /Pool Areas. Finally, on The Second Floor, You Will Also Find Two More Bedrooms with A Jack and Jill Bathroom. Ultimately, This Home Is on One of The Largest Lots; over 13,000 Square feet. It Comes with A 3-Car Garage, Low Taxes, and No HOA. This Beautiful Home Is Situated Within a Quiet Neighborhood with a park. It Offers Murrieta Schools that are Close By, And the Home Is Just Minutes to Shopping, Restaurants, and Freeway, plus to Hiking-Walking Trails in The Santa Rosa Plateau! ***This Home Should be on Your List to See***.

SEE MORE

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

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
 

$494,550$604,450$549,500

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$2,027
Property Tax -$620
Property Insurance -$86
Property Management Fees -$158
CASH FLOW
-$221

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.

$549,500

PROJECTED PRICE

$2,670

PROJECTED RENT

0.49%

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-$5.0k$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,368

INVESTMENT

$151,368

Down Payment
$137,375
Rehab Estimate
$5,750
Closing Costs
$8,243

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,027

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,375
Loan Amount $412,125
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,637

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,453

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,6004$2,6505$2,670
$2,670
RENT COMPS ANALYSIS
  • 24056 Huntridge Drive Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.09
    •  
  • 24095 Fuschia Court Murrieta, CA 1
    • 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 24077 Orleans Lane Murrieta, CA 2
    • 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
    •  
  • 23918 Cadenza Drive Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1994
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.13
    •  
  • 23897 Constantine Drive Murrieta, CA 4
    • 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
Richard Hainline
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20257100
Last Updated: 01/01/2021
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