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24712 Vista Verde Drive Murrieta, CA 92562

4 Beds 3 Baths 1,828 sqft Built 1988

$485,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $265.32
  • 25 Days on Market
  • MLS # : SW21013484
  • Updated Date : 02/10/2021 at 16:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Preferred

Listing Agent's Description

Welcome to your own Private Oasis! This beautiful home features 4 bedrooms, 2.5 baths The backyard is perfect for entertaining with a sparking pool and 3 waterfalls. BBQ Island with mini fridge. All newer double pane windows, all tile flooring downstairs and vinyl plank upstairs so there's NO carpet! Exterior paint is "Tex-Cote Paint" This paint contains special reflective pigments that can lower surface temperatures by 40 degrees. Tankless water heater. Low maintenance front and back yard with artificial turf in front. Super low tax, no HOA Walking distance to groceries, restaurants, parks and schools. Easy access to freeways and nearby medical care. This home will go quick!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,685
Property Tax -$497
Property Insurance -$71
Property Management Fees -$126
CASH FLOW
-$249

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.

$485,000

PROJECTED PRICE

$2,130

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,534

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,1003$2,1004$2,1305$2,250
$2,250
RENT COMPS ANALYSIS
  • 24712 Vista Verde Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.17
    •  
  • 24633 Leafwood Drive Murrieta, CA 1
    • 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,778 Sqft ∙ Built 1988
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.11
    •  
  • 24520 Ridgewood Drive Murrieta, CA 2
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
  • 39542 Country Mill Road Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,858 Sqft ∙ Built 1990
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.13
    •  
  • 40034 Palma Vista Street Murrieta, CA 5
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.24
    •  
PROPERTY LISTING DETAILS
Charlene Hunkle
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21013484
Last Updated: 02/10/2021
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