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PROPERTY INFO
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!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92563
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$155,475
LOAN DETAILS
$2,085
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $141,250 |
| Loan Amount | $423,750 |
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
-
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
Keller Williams Realty San Diego North Inland
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20257928
Last Updated: 12/19/2020
