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28354 Bruning Street Murrieta, CA 92563

3 Beds 3 Baths 2,297 sqft Built 2004

$479,999

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $208.97
  • 4 Days on Market
  • MLS # : SW21054462
  • Updated Date : 03/18/2021 at 17:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams, The Lakes

Listing Agent's Description

Beautifully remodeled home located within the highly desirable Skyview Ridge Community in Murrieta. This immaculate home features 3 bedrooms, 2.5 bathrooms a large loft and so many gorgeous upgrades throughout the home. Starting with the inviting front porch for you to enjoy your morning coffee, as you enter the home you will be greeted by cathedral like ceilings and beautiful staircase. Timeless laminate flooring throughout, leading to the jaw dropping chef inspired kitchen. Elegant white cabinets with black hardware, granite counter tops, large sink in the kitchen island, brick back splash and plenty of storage. Across from the kitchen is a large family room with a cozy wood fireplace to warm up on cold nights. Upstairs you will find large guest bedrooms, one of which has a private balcony. Guest bathroom has a dual sink vanity and granite counter tops. The spacious and elegant master suite and bath have a walk-in closet, dual sink vanity, large soaking tub and walk-in shower. As if that wasn’t enough, this home also has a large upstairs laundry room, and a 3 car tandem garage. The Skyridge Community includes a swimming pool, spa, playground and a gated RV storage. Close to the 15 and 91 freeways, awards winning schools, and plenty of shopping! Don’t wait, this home will be gone before you know it.

SEE MORE

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: North Murrieta Business Corridor

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: North Murrieta Business Corridor

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
Oak Meadows Elementary School Primary Regular 1,014 40 8
Bell Mountain Middle School Middle Regular 1,173 49 7
Paloma Valley High School High Regular 2,844 101 6

Oak Meadows Elementary School

  • Education Level: Primary
  • # of students: 1,014
  • # of teachers: 40
8
GreatSchools Rating

Bell Mountain Middle School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 49
7
GreatSchools Rating

Paloma Valley High School

  • Education Level: High
  • # of students: 2,844
  • # of teachers: 101
6
GreatSchools Rating
 

$431,999$527,999$479,999

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,667
Property Tax -$458
Property Insurance -$83
HOA -$72
Property Management Fees -$127
CASH FLOW
-$248

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.

$479,999

PROJECTED PRICE

$2,160

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.3%
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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,000
Loan Amount $359,999
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$10,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,199

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,1753$2,2004$2,2955$2,395
$2,395
RENT COMPS ANALYSIS
  • 28354 Bruning Street Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.94
    •  
  • 28392 Ware Street Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2005
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.95
    •  
  • 28367 Ware Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2004
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 28384 Ware Street Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 34888 Antelope Road Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 1988
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
Misty Cochren
Keller Williams, The Lakes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21054462
Last Updated: 03/18/2021
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