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29557 Big Dipper Way Murrieta, CA 92563

3 Beds 2 Baths 2,575 sqft Built 2005

$549,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $213.20
  • 2 Days on Market
  • MLS # : SW21005442
  • Updated Date : 01/09/2021 at 21:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,575 sqft
  • Baths : 2 full
Listing Agent

Stephanie York, Broker

Listing Agent's Description

Absolutely Stunning, newly painted two story home located on the East Side of Murrieta next to La Alba Trailhead and French Valley airport with no rear neighbors. All three bedrooms are located downstairs with a huge 20'x15' bonus room/loft upstairs with built-in desk and privacy shutters. Real Hardwood flooring throughout all the high traffic areas and carpet in the Family room, Living room and bedrooms. The kitchen features granite countertops with an over sized island surrounded with ample cabinet space and a tall breakfast bar that flows into the family room fully designed for entertaining with a gorgeous fireplace and large media niche. Separate laundry room. Two car direct access attached garage. The lot is over 7400 sq ft with new grass, brand new alumawood patio with lighted fans and power in every support beam. No HOA. Built in 2005. See video and virtual 3D tour for more information.

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
 

$494,100$603,900$549,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,907
Property Tax -$575
Property Insurance -$90
Property Management Fees -$140
CASH FLOW
-$341

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.

$549,000

PROJECTED PRICE

$2,370

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-$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$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,907

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,617

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,446

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2503$2,3704$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 29557 Big Dipper Way Murrieta, CA 3
    • 3 beds 2 baths ∙ 2,575 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,575 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.92
    •  
  • 36905 Capricious Lane Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 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 4
    • 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
    •  
  • 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
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Stephanie York
Stephanie York, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21005442
Last Updated: 01/09/2021
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