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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $187.46
- 6 Days on Market
- MLS # : SW21006334
- Updated Date : 01/15/2021 at 11:20
CONSTRUCTION
- Beds : 4
- Floor Size : 2,934 sqft
- Baths : 2 full
Listing Agent
Century 21 Preferred
Listing Agent's Description
VIEWS! PRIVACY! CUL-DE-SAC! FULLY-PAID SOLAR! THIS ~2,934 sq. ft. TURNKEY home has 4 BR(1 on main floor), 3 baths, PLUS a loft. You'll be wowed from the moment you pull up as this home has great curb appeal w/ its nicely done landscaping & a quaint front porch. As you step inside, you'll be greeted w/ the formal living/dining rm w/ rich laminate floors. The spacious kitchen w/ clean white cabinets and granite counters has a lg. island w/lots of storage & pendant lights great for entertaining & cooking and is open to the family rm w/ FP, ceiling fan, & is wired for surround sound. Also on the 1st floor you'll find the spacious MAIN FLOOR BDRM w/ mirrored wardrobes & ceiling fan which adjoins to the MAIN FLOOR BA w/shower- great for guests or mother-in-law suite. On the 2nd floor, you'll find newer plush carpeting throughout-2 very large secondary bdrms (the one could be converted to make this a 5 BR home), secondary BA w/ dual sinks & tub-shower combo, laundry rm, & a loft- a great potential homeschool space. The master bdrm w/ retreat & double-sided fireplace will certainly be a place you can relax at the end of a day. Sit on your balcony and watch the sunset! The UPDATED master BA features a make-up vanity, dual sinks, soaking tub, shower & nice-sized walk-in closet. Outside, in this PRIVATE POOL-SIZED LOT, you'll enjoy the aluma-wood patio cover w/ceiling fans, trickling pond, fountains, & fire pit. This home also has a 3 car garage, LOW TAXES, & is centrally located!
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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: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$488 | |
| Property Insurance | -$98 | |
| HOA | -$51 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$214
|
||
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
$2,480
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
3.58
YEARS SAVED
$17,504
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$2,575
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
24942 Pasture Court Wildomar, CA 2
- 4 beds 2 baths ∙ 2,934 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,934 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $2,480
- $0.85
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40760 Robards Way Murrieta, CA 1
- 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,400
- $0.86
-
25136 Wolcott Court Wildomar, CA 3
- 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,251 Sqft ∙ Built 2005
LEASED 12/07/19- Rent
- Rent Per SQFT
- $2,699
- $0.83
-
24125 Montecito Drive Wildomar, CA 4
- 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2016
LEASED 06/22/20- Rent
- Rent Per SQFT
- $2,700
- $0.87
-
40886 Bouvier Court Murrieta, CA 5
- 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002
LEASED 08/11/20- Rent
- Rent Per SQFT
- $2,750
- $0.95
PROPERTY LISTING DETAILS
Century 21 Preferred
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21006334
Last Updated: 01/15/2021
