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27250 Wedgewood Way Murrieta, CA 92562

4 Beds 3 Baths 2,621 sqft Built 2004

$510,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $194.58
  • 6 Days on Market
  • MLS # : SW21002165
  • Updated Date : 01/05/2021 at 14:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,621 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates, I

Listing Agent's Description

One of the most desirable floorplans by Lennar - 27250 Wedgewood Way is an excellent opportunity for those who want a spacious open layout with most of the bedrooms downstairs. The craftsman inspired exterior is accented by river rocks pillars and a nice front porch. As you enter, you will be welcomed by the living room and dining room with both carpeted flooring and wood floors. There is a great room down the hall consist of vaulted two-story ceilings, an open kitchen, and a connecting family room. The kitchen is equipped with a large kitchen island, granite countertops, beautiful white cabinets, and a built-in desk/ workstation. Entertaining is easy in this great space- set out the food in the kitchen and hang out in the family room to watch the game or a movie! The Master bedroom is DOWNSTAIRS, with a connecting ensuite master bathroom. Upstairs is an ideal set up with also a spacious bedroom, a LOFT, and a private bathroom- for those who want their own space and privacy. The entire interior was repainted about a year ago. The backyard features a grassy area and a slope that is perfect for flowering shrubs, fruit, or shade trees. Well maintained and ready for move-in!!

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: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k676k

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

Neighborhood: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822805

* 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
Antelope Hills Elementary School Primary Regular 812 32 9
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Antelope Hills Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 32
9
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
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,771
Property Tax -$532
Property Insurance -$91
Property Management Fees -$154
CASH FLOW
$62

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.

$510,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.9%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$38,546

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,614

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,4953$2,6104$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 27250 Wedgewood Way Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.00
    •  
  • 36801 Longbranch Avenue Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2003
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.97
    •  
  • 36252 Bur Oaks Avenue Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.95
    •  
  • 26508 Veramonte Avenue Murrieta, CA 4
    • 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.00
    •  
  • 36313 Chittam Wood Place Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
David Stites
Realty Masters & Associates, I
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21002165
Last Updated: 01/05/2021
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