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28461 Bruning Street Murrieta, CA 92563

3 Beds 3 Baths 2,297 sqft Built 2004

$449,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $195.86
  • 3 Days on Market
  • MLS # : SW20251068
  • Updated Date : 12/04/2020 at 16:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Welcome home to this lovely three bedroom plus loft home in the highly desired city of Murrieta. This home features an open layout with formal living and dining. The casual living room features a cozy fireplace and built-in media niche. Light-catching windows throughout bring in lots of natural light. The kitchen is open to the great room and is nicely laid out with a center island, granite countertops, and stainless steel appliances. Two of the cabinet doors feature showcase glass to display your nice dishes. The kitchen flooring is hardwood to complement the cabinets. Upstairs you will be greeted by a nice size loft. The spacious primary bedroom features a balcony and an en-suite bathroom with a walk-in closet. All secondary bedrooms are generously sized and have walk-in closets. Plenty of storage and an upstairs laundry room and hall bath concludes the upstairs. The front and backyard have been nicely landscaped and the garage features a spacious 3 car tandem style garage. Close to school, shopping, and entertainment. You won’t want to miss this home.

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
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,660
Property Tax -$429
Property Insurance -$83
HOA -$80
Property Management Fees -$129
CASH FLOW
-$201

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.

$449,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.48%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$15,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,228

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,1803$2,2004$2,2955$2,375
$2,375
RENT COMPS ANALYSIS
  • 28461 Bruning Street Murrieta, CA 2
    • 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.95
    •  
  • 28392 Ware Street Murrieta, CA 1
    • 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
    •  
  • 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
Kimberly Rehnquist
Redfin Corporation
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20251068
Last Updated: 12/04/2020
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