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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $245.84
- 5 Days on Market
- MLS # : SW20262219
- Updated Date : 12/23/2020 at 15:28
CONSTRUCTION
- Beds : 3
- Floor Size : 1,444 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhhs Ranch & Coast Real Estate
Listing Agent's Description
Beautiful two story 3 bedroom, 2.5 bathroom townhome in the highly coveted community of Meadowlane in Murrieta. This is a very spacious property that features 1,444 sqft of living space on a 695 sqft. lot, 2 car garage with direct access, and a private backyard! From the entryway, you are greeted with a large and inviting living space that is open to the kitchen and dining area. The kitchen features a large wrap-around island, ample cabinet space, recessed lighting, breakfast bar seating, and a sliding glass door that invites lots of natural light as well as provides access to the serene backyard area. The master suite features a large bedroom area, dual sinks, & ceramic tile floors in the bathroom. This home is conveniently located in the heart of Murrieta with easy access to the 15 & 215 fwys, shopping centers, restaurants, hospitals, and more! The Meadowlane community features beautiful common areas and amenities such as a large pool, spa, and barbecue and picnic area. Located in a great school district, low HOA, prime location! Come see this perfect home today!
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$1,310 |
| Property Tax | -$441 | |
| Property Insurance | -$62 | |
| HOA | -$165 | |
| Property Management Fees | -$109 | |
|
CASH FLOW
-$246
|
||
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.
$355,000
PROJECTED PRICE
$1,840
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.0% |
| 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
$99,825
LOAN DETAILS
$1,310
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $88,750 |
| Loan Amount | $266,250 |
2
YEARS SAVED
$5,432
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$1.27
LIST RENT PER SQFT
-
$1,841
COMP ESTIMATED VALUE -
$1.28
COMP AVG. RENT PER SQFT
Comps Range
-
25204 Crest Haven Street Murrieta, CA 3
- 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005
![property image]()
- Rent
- Rent Per SQFT
- $1,840
- $1.27
-
41737 Ridgewalk Street Murrieta, CA 1
- 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 2005
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LEASED 01/02/20- Rent
- Rent Per SQFT
- $1,750
- $1.24
-
41702 Timberwood Avenue Murrieta, CA 2
- 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,800
- $1.25
-
41713 Woodridge Avenue Murrieta, CA 4
- 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,444 Sqft ∙ Built 2005
![property image]()
LEASED 10/29/19- Rent
- Rent Per SQFT
- $1,900
- $1.32
-
41524 Blue Canyon Avenue Murrieta, CA 5
- 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,548 Sqft ∙ Built 2006
![property image]()
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,000
- $1.29
PROPERTY LISTING DETAILS
Bhhs Ranch & Coast Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20262219
Last Updated: 12/23/2020
