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24511 Calle Magdalena Murrieta, CA 92562

4 Beds 3 Baths 2,084 sqft Built 1989

$479,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $230.28
  • 5 Days on Market
  • MLS # : SW20233152
  • Updated Date : 11/05/2020 at 11:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,084 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Champions

Listing Agent's Description

Located at the end of a quiet cul-de-sac with Low taxes and No HOA - Enter the charming courtyard with ample hardscape and landscaping, EXTREME privacy as the home butts up to the greenbelt on one side! This updated 4 bedroom 2.5 bath home is meticulously maintained with high ceilings, new paint throughout, recessed lighting, newer laminate wood flooring throughout - NO CARPET, upgraded kitchen and appliances and updated bathrooms! Brand new HVAC and soft water system! The newly renovated kitchen is bright and open with quartz countertops and fresh white cabinetry with a sun window and new appliances. The living room and family room both have fireplaces as well as a separate dining room. The upstairs has 4 spacious bedrooms with the master bedroom having views of the mountains, a walk-in closet, and en suite bathroom with dual sinks and a soaking tub. All bathrooms have been updated with new faucets and light fixtures. The backyard is nicely set up with the courtyard extending to the backyard. This beautiful home is located in the Montena neighborhood off Las Brisas, near Century Park and the Las Brisas Fitness Route, in the award-winning Murrieta school district, and close to shopping, dining, recreation, and freeways. Wont last!!!!

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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,771
Property Tax -$491
Property Insurance -$78
Property Management Fees -$133
CASH FLOW
-$212

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.

$479,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.47%

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$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2004$2,2605$2,500
$2,500
RENT COMPS ANALYSIS
  • 24511 Calle Magdalena Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.08
    •  
  • 36194 Toulon Drive Murrieta, CA 1
    • 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 25190 Calle De Tres Amigos Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 1988
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
  • 39469 Country Mill Road Murrieta, CA 3
    • 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,853 Sqft ∙ Built 1990
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 24599 Calle San Vincente Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
PROPERTY LISTING DETAILS
Kim Cervantes
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20233152
Last Updated: 11/05/2020
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