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24526 Avenida Arconte Murrieta, CA 92562

4 Beds 3 Baths 2,637 sqft Built 1990

$569,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $216.12
  • 14 Days on Market
  • MLS # : IV21054358
  • Updated Date : 03/25/2021 at 14:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,637 sqft
  • Baths : 3 full
Listing Agent

Century 21 Preferred

Listing Agent's Description

LOOK NO FURTHER, THIS BEAUTIFUL AND TURNKEY HOME is in the HEART OF MURRIETA with LOW TAXES AND NO HOA!! Come and see this MOVE IN READY ~ 2637 SQFT, 4BR PLUS 3 FULL BA HOME! Formal entry includes tile flooring, vaulted ceiling, living room with fireplace, dining room and lots of sunshine. Home has been Meticulously maintained throughout. Quality kitchen cabinetry, updated appliances, WALK-IN PANTRY, eating area as well as bar-height counter for entertaining and more seating options. Family Room includes BUILT-IN ENTERTAINMENT CENTER and SECOND FIREPLACE. DOWNSTAIRS BEDROOM AND FULL BATH. Upstairs you will find plenty of linen and closet storage, TWO GENEROUS SIZE BDRMS with one having its own BALCONY! Bedrooms share JACK AND JILL BATH with double sinks. SPACIOUS MSTR BDRM WITH HIS/HER WALK-IN CLOSET. MSTR BA has separate shower and tub, double sinks and AGAIN plenty of closet /storage space. UPGRADES INCLUDE SHUTTERS AND NEWER DUAL PANE WINDOWS THROUGHOUT, AC IS NEWER AND 3 CAR GARAGE HAS BUILT IN STORAGE TO KEEP THINGS ORGANIZED AS WELL AS STORAGE SHED IN BACK. PRIVATE AND POOL SIZE YARD, CLOSE TO THE 15/215 FREEWAYS, WALKING DISTANCE TO SCHOOLS AND SHOPPING MAKES THIS AN AMAZING OPPORTUNITY YOU WONT WANT TO MISS!!

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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

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
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
 

$512,910$626,890$569,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,979
Property Tax -$575
Property Insurance -$91
Property Management Fees -$152
CASH FLOW
-$217

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.

$569,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.45%

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$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$156,774

INVESTMENT

$156,774

Down Payment
$142,475
Rehab Estimate
$5,750
Closing Costs
$8,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,979

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,475
Loan Amount $427,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$18,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,967

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5803$2,8004$2,9955$3,200
$3,200
RENT COMPS ANALYSIS
  • 24526 Avenida Arconte Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.98
    •  
  • 23792 Castinette Way Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 36289 Thousand Oaks Place Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
  • 40528 Angelica Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 1997
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.10
    •  
  • 40355 Via Herradura Murrieta, CA 5
    • 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.28
    •  
PROPERTY LISTING DETAILS
Ronda Bilton
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21054358
Last Updated: 03/25/2021
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