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28411 Crosby Street Murrieta, CA 92563

3 Beds 3 Baths 2,058 sqft Built 2005

$468,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $227.41
  • 3 Days on Market
  • MLS # : SW21021698
  • Updated Date : 02/05/2021 at 13:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,058 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This home is located in the gated Granite Gate Community. Welcome to this eclectic Mississippi infused, decorated home! So much to see when viewing...but please notice the home detail in the flooring, the fireplace in the family room area, and the rounded kitchen counters. There is a large loft in this model overlooking the downstairs, and the convenient upstairs laundry room. There is a 3 car Tandem garage with kitchen entrance. There is an upgraded water softener system in the garage also! Water heater is 1 year new. The backyard touts a "SPOOL" (a large spa...or a small pool), and a unique waterfall/fireplace combination! There is lush vegetation and a covered patio area too! This community offers an RV parking lot for approx. 100 dollars for the year as a great benefit!! There is a nice park area with BBQ etc. Conveniently located of the 215/15 freeways. Close to Temecula wine country, recreational lakes, shopping (new Costco coming in!!) and restaurants.

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: 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
 

$421,200$514,800$468,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,626
Property Tax -$447
Property Insurance -$77
HOA -$98
Property Management Fees -$131
CASH FLOW
-$158

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.

$468,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.47%

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$129,770

INVESTMENT

$129,770

Down Payment
$117,000
Rehab Estimate
$5,750
Closing Costs
$7,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,626

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,000
Loan Amount $351,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,243

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2203$2,2954$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 28411 Crosby Street Murrieta, CA 2
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.08
    •  
  • 34347 Coastal Sage Street Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2017
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 28508 Kara Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2005
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.10
    •  
  • 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
    •  
  • 28399 Ware Street Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.01
    •  
PROPERTY LISTING DETAILS
Laura Teposte
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21021698
Last Updated: 02/05/2021
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