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24641 Lincoln Avenue Murrieta, CA 92562

4 Beds 2 Baths 1,794 sqft Built 1996

$486,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $271.40
  • 3 Days on Market
  • MLS # : IG20260024
  • Updated Date : 12/18/2020 at 18:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Beautiful 4 bedroom, 2 full bathroom, single story home with a sparkling swimming pool and spa in the community of Murrieta! Enjoy vaulted ceilings, serene ceiling fans, an inviting brick fireplace, and laminate wood flooring. The open kitchen offers a center island, white wood cabinetry, stainless steel appliances, and views to the back yard, pool, and spa. The primary bedroom features a walk-in closet, dual sinks in the primary bathroom, a soaking tub, and a walk-in shower. Additional property highlights include patio ceiling fans, an outdoor fire pit, solar panels, and a 3 car garage. Convenient to area shops, parks, markets, and easy access to major freeways!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$438,210$535,590$486,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,796
Property Tax -$508
Property Insurance -$71
Property Management Fees -$132
CASH FLOW
-$267

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.

$486,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.46%

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$134,779

INVESTMENT

$134,779

Down Payment
$121,725
Rehab Estimate
$5,750
Closing Costs
$7,304

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,796

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,725
Loan Amount $365,175
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,229

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,2403$2,2504$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 24641 Lincoln Avenue Riverside, CA 2
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.25
    •  
  • 25172 Via Las Lomas Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1988
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.22
    •  
  • 40034 Palma Vista Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
  • 40568 Angelica Drive Murrieta, CA 4
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1997
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.30
    •  
  • 39848 Osprey Road Murrieta, CA 5
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1988
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.21
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20260024
Last Updated: 12/18/2020
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