Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

29370 Shady Lane Murrieta, CA 92563

4 Beds 3 Baths 2,239 sqft Built 2002

$449,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $200.98
  • 5 Days on Market
  • MLS # : SW20197393
  • Updated Date : 11/13/2020 at 09:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,239 sqft
  • Baths : 2 full , 1 half
Listing Agent

Team Forss Realty Group

Listing Agent's Description

Welcome home to this beautifully maintained home with a park like backyard with a covered patio and lush plantings. The home has soaring high ceilings in the living and dining room area as you enter the home. The spacious kitchen with an eating area opens onto the large family room with fireplace. There is a slider to the patio and yard which has a large lawn and lots of mature trees, as well as a spa to relax in. The upper level has a master bedroom with a walk in closet and a five piece bathroom with dual vanities. There are three secondary bedrooms with a bathroom upstairs as well as an open landing overlooking the living area. The home is well located in the Murrieta school district with low taxes and no HOA.

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

Zip Code: 92563

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Zip Code: 92563

ZipNIR 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
Monte Vista Elementary School Primary Regular 940 36 6
Dorothy Mcelhinney Middle School Middle Regular 1,308 48 8
Vista Murrieta High School High Regular 3,456 132 8

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 940
  • # of teachers: 36
6
GreatSchools Rating

Dorothy Mcelhinney Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 48
8
GreatSchools Rating

Vista Murrieta High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 132
8
GreatSchools Rating
 

$404,999$494,999$449,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,660
Property Tax -$510
Property Insurance -$81
Property Management Fees -$136
CASH FLOW
-$88

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.

$449,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.2%
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

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $112,500
Loan Amount $337,499
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,323

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3504$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 29370 Shady Lane Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
  • 29704 Masters Drive Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2002
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 37961 Veranda Way Murrieta, CA 3
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2002
    property image
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.12
    •  
  • 29342 Shady Lane Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2002
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 37736 Summer Wind Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,459 Sqft ∙ Built 2002
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Goran Forss
Team Forss Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20197393
Last Updated: 11/13/2020
BESbswy