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27592 Chicory Street Murrieta, CA 92562

3 Beds 3 Baths 1,797 sqft Built 2005

$415,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $230.94
  • 19 Days on Market
  • MLS # : SW21028048
  • Updated Date : 02/24/2021 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,797 sqft
  • Baths : 2 full , 1 half
Listing Agent

Theresa Morris Realty Group

Listing Agent's Description

Coming soon! This beautiful and spacious home built by Lennar is almost 1800 sqft. and one of the largest plans nestled in the Bel Flora gated community! As you enter the home, there is a flex room that can easily be converted into a 4th bedroom/playroom/office and as you make your way through you will notice the hardwood flooring and recently refinished kitchen with white cabinetry, granite countertops, new backsplash and a very large kitchen island with ample seating that opens up to the dining area and family room with a cozy fireplace. Upstairs has a large main suite with adjoining bathroom, double sinks, soaking tub/shower and a walk in closet, another two additional bedrooms, secondary bathroom, built-in tech area and an upstairs laundry room for your convenience. Included with this home are the refrigerator, washer and dryer! You also have interior access to a two car garage and a side yard with a concrete patio area. The HOA includes a park, pool, spa and even offers secure parking for your RV. Zoned for award winning Murrieta school district and very easy freeway access to the 15 and 215. If that is not enough, this home is a short walk over to the Super Target, Tractor Supply, Starbucks and many more amenities!

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
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,441
Property Tax -$433
Property Insurance -$71
HOA -$179
Property Management Fees -$125
CASH FLOW
-$129

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.

$415,000

PROJECTED PRICE

$2,120

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,654

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1004$2,1205$2,150
$2,150
RENT COMPS ANALYSIS
  • 27592 Chicory Street Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,797 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.18
    •  
  • 36044 Toulon Drive Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,593 Sqft ∙ Built 1989
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.26
    •  
  • 28324 Triese Street Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 2005
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.23
    •  
  • 27573 Rosebud Street Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,660 Sqft ∙ Built 2005
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.27
    •  
  • 36194 Toulon Drive Murrieta, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Theresa Morris
Theresa Morris Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21028048
Last Updated: 02/24/2021
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