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29533 Big Dipper Way Murrieta, CA 92563

5 Beds 3 Baths 2,776 sqft Built 2005

$565,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $203.53
  • 6 Days on Market
  • MLS # : SW20257928
  • Updated Date : 12/19/2020 at 09:38
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,776 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty San Diego North Inland

Listing Agent's Description

JUST IN TIME FOR THE HOLIDAYS! Fully REMODELED gorgeous 5 bedroom Murrieta home with PAID SOLAR. This home has so many UPGRADES! Newly remodeled kitchen with new self closing cabinets and drawers, subway tile, underlighting, pot filler, all new high end appliances, steam convection oven, Banco kitchen sink, alkaline water system, extra large island with lots of storage, recess lighting, butlers pantry with extra outlets and a walk in pantry with a glass etched door. The bathrooms have also been beautifully remodeled with quartz counter tops, new cabinets, tiled shower with a herringbone pattern, two shower heads, free floating shower door and wheelchair accessibility. The master bedroom has an amazing custom built-in closet organizer with drawers. The master bathroom has custom Italian marble, a separate shower and an extra deep soaker tub. There is a wonderful deck off the master bedroom with a view of the hills, mountains and lights. A great place to relax, see fireworks and hot air balloons. The deck also has a spiral iron staircase that takes you to the private low maintenance backyard. Enjoy the built in BBQ with a refrigerator and outdoor music along with the nice California patio room, raised planter bed with a vegetable and herb garden, newly constructed Tuff Shed, irrigation, drainage and grass turf. There is also an area for an electric spa that is pre-wired. This yard is large enough for a pool if you choose. There are so many more upgrades you must see!

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

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
 

$508,500$621,500$565,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,085
Property Tax -$592
Property Insurance -$94
Property Management Fees -$143
CASH FLOW
-$484

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.

$565,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.43%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$155,475

INVESTMENT

$155,475

Down Payment
$141,250
Rehab Estimate
$5,750
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,250
Loan Amount $423,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,387

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,4004$2,4305$2,500
$2,500
RENT COMPS ANALYSIS
  • 29533 Big Dipper Way Murrieta, CA 4
    • 5 beds 3 baths ∙ 2,776 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,776 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.88
    •  
  • 29772 Sceptrum Street Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 2005
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.80
    •  
  • 37384 Hydrus Place Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,643 Sqft ∙ Built 2005
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.85
    •  
  • 29784 Ski Ranch Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
  • 29267 Ariel Street Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,977 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,977 Sqft ∙ Built 2005
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Erin Mann
Keller Williams Realty San Diego North Inland
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20257928
Last Updated: 12/19/2020
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