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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $205.24
- 5 Days on Market
- MLS # : CV20249954
- Updated Date : 12/04/2020 at 10:03
CONSTRUCTION
- Beds : 4
- Floor Size : 2,290 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Time Realty
Listing Agent's Description
Welcome to this Gorgeous, Murrieta 2 story family home located in the highly sought after “Alta Murrieta” area. You will be happy to find this home not only is on a good size corner lot but also has RV access with pre wired 220v in garage, This spacious 4 bed 3 bath home features 1 bed and bathroom downstairs along with a formal entry way which leads to the Formal living room and dining area. Continuing you will be lead to the kitchen which has been well maintained, lastly you will find the family room that features its own cozy fireplace. Upstairs you will find 3 bedrooms and 2 bathrooms, the Master bedroom has a good size balcony which really makes this property stand out and makes it perfect for enjoying nice evenings. Excellent location, Low taxes, no association, close to outstanding schools, shopping, all hospitals and freeway close. A true must see… please call for your own private showing!
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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: Alta Murrieta
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Alta Murrieta
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $2,270 |
EXPENSES | Loan Payment | -$1,734 |
Property Tax | -$481 | |
Property Insurance | -$83 | |
Property Management Fees | -$134 | |
CASH FLOW
-$161
|
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.
$469,999
PROJECTED PRICE
$2,270
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 3.95% |
Appreciation Year (1-5) | 7.4% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 5.35% |
Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$130,300
LOAN DETAILS
$1,734
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $117,500 |
Loan Amount | $352,499 |
4.08
YEARS SAVED
$21,131
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$2,284
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Re/max Time Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20249954
Last Updated: 12/04/2020