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27286 Wedgewood Way Murrieta, CA 92562

4 Beds 2 Baths 2,224 sqft Built 2004

$539,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $242.76
  • 3 Days on Market
  • MLS # : AR21009954
  • Updated Date : 01/16/2021 at 16:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,224 sqft
  • Baths : 2 full
Listing Agent

Long Dragon Realty Group, Inc.

Listing Agent's Description

Welcome home to this rare Single-Story luxurious Turn-Key Lennar home, adjacent to the highly desirable North Murrieta Business Corridor, close to award-winning Murrieta schools, shopping, and world-class healthcare at Loma Linda University Medical Center Murrieta. This quiet cul-de-sac street exemplifies an ideal family neighborhood nestled up near rolling green hills and within walking distance to parks and outdoor recreational spaces. When it’s time to wind down, simply relax in peace in the private backyard with recently planted fresh sod, having no neighbors directly behind you. Bask in the sunshine while enjoying the cool gentle breezes that keep the air so fresh in Murrieta. The amenities here just go on and on. Granite counters, light and bright cabinets, GE appliances, recently done interior designer paint, high-end flooring, and ceiling fans just to name a few. Hang out with friends and family in the spacious formal living/ dining area, or watch a movie in the cozy family room by the fire. The breakfast nook is a perfect place to play board games next to the open gourmet kitchen with a huge island. This house truly embodies the feeling of “sugar and spice, everything nice.” Don’t miss this amazing opportunity to live the life of your dreams in a wonderful community.

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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: 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
 

$485,910$593,890$539,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,875
Property Tax -$563
Property Insurance -$81
Property Management Fees -$135
CASH FLOW
-$365

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.

$539,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,824

INVESTMENT

$148,824

Down Payment
$134,975
Rehab Estimate
$5,750
Closing Costs
$8,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,875

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,975
Loan Amount $404,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$8,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2903$2,3004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 27286 Wedgewood Way Murrieta, CA 2
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.03
    •  
  • 36194 Toulon Drive Murrieta, CA 1
    • 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 36250 Chittam Wood Place Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
  • 28319 Kara Street Murrieta, CA 4
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 24700 Pantera Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
PROPERTY LISTING DETAILS
Janice Jung
Long Dragon Realty Group, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR21009954
Last Updated: 01/16/2021
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