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26278 Jasmine Avenue Murrieta, CA 92563

3 Beds 3 Baths 1,953 sqft Built 2016

$424,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $217.56
  • 5 Days on Market
  • MLS # : SW20219399
  • Updated Date : 10/30/2020 at 10:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,953 sqft
  • Baths : 2 full , 1 half
Listing Agent

Corcoran Global Living

Listing Agent's Description

Detached, Tuscan-style condo is conveniently centrally located in KB Homes gated Seneca Community - a corner lot home by the main entrance. Open and bright great room. The modern kitchen showcases quartz countertops with modern white cabinets and a large entertainers island. This Energy-Star certified home also includes a tankless water heater, radiant roof barrier, water-saving plumbing features, energy-efficient lighting and appliances.Two car attached garage, and great curb appeal. Enjoy low maintenance living with a front yard maintained by the HOA. Community park with tot-lot and picnic areas. Borders a natural preserve with walking. Biking trails. Close to Temecula Promenade Mall and freeways.

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: Vintage Reserve

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Vintage Reserve

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
Alta Murrieta Elementary School Primary Regular 769 28 8
Warm Springs Middle School Middle Regular 891 31 6
Vista Murrieta High School High Regular 3,456 132 8

Alta Murrieta Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 28
8
GreatSchools Rating

Warm Springs Middle School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 31
6
GreatSchools Rating

Vista Murrieta High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 132
8
GreatSchools Rating
 

$382,410$467,390$424,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,568
Property Tax -$436
Property Insurance -$74
HOA -$198
Property Management Fees -$129
CASH FLOW
-$225

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.

$424,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$11,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,280

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,180
1$2,1802$2,3003$2,3504$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 26278 Jasmine Avenue Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.12
    •  
  • 40501 Amesbury Lane Temecula, CA 2
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2012
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 28911 Boothbay Road Temecula, CA 3
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.18
    •  
  • 40182 Canton Court Temecula, CA 4
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 2007
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
  • 40693 Cartier Street Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.21
    •  
PROPERTY LISTING DETAILS
Josh Painter
Corcoran Global Living
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20219399
Last Updated: 10/30/2020
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