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27789 Elderberry Street Murrieta, CA 92562

4 Beds 3 Baths 2,945 sqft Built 2005

INVESTimate

$559,000

List Price

$2,550

$2,300 - $2,800

Rent Est.

$597,347  ( +6.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $189.81
  • 8 Days on Market
  • MLS # : SW20163648
  • Updated Date : 08/20/2020 at 09:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,945 sqft
  • Baths : 3 full
Listing Agent

Reliable Realty Inc.

Listing Agent's Description

Welcome home to the beautiful gated community of Greer Ranch. This home is located on the end of a cul de sac. You will be nestled away in a corner where it is quite and private. Curb appeal is everything and this home will not disappoint, you feel welcome from the moment you drive up.Inside you are greeted by tall ceilings and stunning ungraded wood flooring that leads you to the formal living and dining room. A main floor bedroom, bathroom and office space really add to the versatility of the home. There is also family room with a beautiful fireplace for your family to gather around. The kitchen is light and bright with stunning maple cabinets, upgraded quartz counter tops and stainless steed appliances. The view from your kitchen sink is your beautiful backyard that backs up to the hills and really gives you the feeling that you have no neighbors, gotta love that! Upstairs you have another office, a huge master bedroom suite , 2 additional spacious bedrooms and a main bathroom. Greer Ranch has 24- HR SECURITY, a pool, spa, clubhouse, community events, parks, & much more. EZ access to freeway. Make sure you check out the 3 D tour.

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
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$2,062
Property Tax -$634
Property Insurance -$98
HOA -$250
Property Management Fees -$150
CASH FLOW
-$646

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.

$559,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.86%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,754

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5403$2,5504$2,7005$2,995
$2,995
RENT COMPS ANALYSIS
  • 27789 Elderberry Street Murrieta, 3
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.87
    •  
  • 27693 Elderberry Street Murrieta, 1
    • 3 beds 2 baths ∙ 2,809 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,809 Sqft ∙ Built 2005
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 34801 Southwood Avenue Murrieta, 2
    • 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2016
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.92
    •  
  • 35585 Cornflower Place Murrieta, 4
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2004
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.91
    •  
  • 27703 Bottle Brush Way Murrieta, 5
    • 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,945 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jacqueline Steed
Reliable Realty Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20163648
Last Updated: 08/20/2020
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