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24587 Malbec Street Murrieta, CA 92562

3 Beds 3 Baths 1,607 sqft Built 1996

$550,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $342.25
  • 7 Days on Market
  • MLS # : SW21059889
  • Updated Date : 03/23/2021 at 08:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,607 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Vault

Listing Agent's Description

WOW! Here it is, the one you have been waiting for. This Murrieta Pool Home is Centrally located off California Oaks Road. One of the only streets in Murrieta that has walkable access to multiple amenities which include, Shivela Middle School, Murrieta Mesa high School, California Oaks Sports park, Multiple restaurants, coffee and Shopping. Enjoy the sunset off your expansive west facing patio, Save money each month with the Paid off Solar, and this property also has RV parking! Wrap up the deal with no HOA and low property taxes. This property brings a quality of life that is hard to match.

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
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
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,910
Property Tax -$554
Property Insurance -$66
Property Management Fees -$117
CASH FLOW
-$668

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.

$550,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.36%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$1,9993$2,1004$2,1005$2,295
$2,295
RENT COMPS ANALYSIS
  • 24587 Malbec Street Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.23
    •  
  • 25172 Via Las Lomas Murrieta, CA 2
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.22
    •  
  • 24085 Via Perlita Murrieta, CA 3
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1995
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.20
    •  
  • 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
    •  
  • 40568 Angelica Drive Murrieta, CA 5
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1997
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.30
    •  
PROPERTY LISTING DETAILS
Wes Hankins
Realty Vault
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21059889
Last Updated: 03/23/2021
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