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24475 Leafwood Drive Murrieta, CA 92562

3 Beds 2 Baths 1,409 sqft Built 1987

$460,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $326.47
  • 6 Days on Market
  • MLS # : SW21016762
  • Updated Date : 01/26/2021 at 14:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,409 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty - Cbad

Listing Agent's Description

Are you ready for that tranquil living you deserve. Here's a beautiful 2 story pool home in a relaxing setting. Downstairs you will enjoy a remodeled kitchen including granite counter tops, under cabinet lighting and newer cabinets with pennant lights. It also includes a half bath. Enjoy a Living room with a fireplace to cozy up for those cold winter nights, Vaulted Ceilings with room to display your favorite plants. Family room and Dining area combo, which features a gorgeous wood plank wall. The French doors from the dining area lead to a covered patio, and a peaceful setting including, a pool and BBQ area, surrounded with palm trees. A grassy area, and a patio area to lounge by the pool while entertaining friends and family. Other features in the home include Plantation Shutters throughout, recess lighting and a beautiful front door. As you head upstairs on the new laminate flooring, you will find 3 bedrooms and two baths. The owner's suite bathroom shower has recently had a makeover with gorgeous tile. Hurry..... This will not last long.

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

Neighborhood: Murrieta Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Murrieta Oaks

NeighborhoodNIR 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
Avaxat Elementary School Primary Regular 735 30 7
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Avaxat Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 30
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,598
Property Tax -$471
Property Insurance -$61
Property Management Fees -$120
CASH FLOW
-$220

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.

$460,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.4%
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-$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$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$11,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$2,0303$2,1004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 24475 Leafwood Drive Murrieta, CA 2
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.44
    •  
  • 24687 New Haven Drive Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,409 Sqft ∙ Built 1988
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.21
    •  
  • 24801 Iceland Poppy Court Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,664 Sqft ∙ Built 1997
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.26
    •  
  • 24528 Ridgewood Drive Murrieta, CA 4
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1988
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.25
    •  
  • 24435 Sagecrest Circle Murrieta, CA 5
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1987
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
PROPERTY LISTING DETAILS
Greg Boyd
Keller Williams Realty - Cbad
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21016762
Last Updated: 01/26/2021
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