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PROPERTY INFO
FACTS
- Single Family
- Built In 1997
- Price/Sqft : $198.80
- 11 Days on Market
- MLS # : SW21013133
- Updated Date : 01/23/2021 at 11:15
CONSTRUCTION
- Beds : 4
- Floor Size : 2,510 sqft
- Baths : 2 full , 1 half
Listing Agent
California Realty Group
Listing Agent's Description
Excellent location for this beautiful California Oaks home conveniently located within walking distance to E. Hale Curran school, shopping, various parks, golf across the street and easy to 15 and 215 freeways. Spacious home with 4 BR's and a huge bonus room. Built-in cabinets, inside laundry and tile flooring. 2 inch blinds through-out the home. Low maintenance yard with patio cover in the back. Third car garage (tandem) has been converted to office. No HOA and low taxes.
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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
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,380 |
| EXPENSES | Loan Payment | -$1,733 |
| Property Tax | -$570 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$151
|
||
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.
$499,000
PROJECTED PRICE
$2,380
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$137,985
LOAN DETAILS
$1,733
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,750 |
| Loan Amount | $374,250 |
3.92
YEARS SAVED
$18,312
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,380
LIST RENT -
$0.95
LIST RENT PER SQFT
-
$2,510
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
24061 Cambria Lane Murrieta, CA 1
- 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $2,380
- $0.95
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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
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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
-
41456 Grand View Drive Murrieta, CA 4
- 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
-
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
California Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21013133
Last Updated: 01/23/2021
