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29731 Sawgrass Circle Murrieta, CA 92563

3 Beds 2 Baths 1,262 sqft Built 1989

$399,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $316.88
  • 4 Days on Market
  • MLS # : SW21009241
  • Updated Date : 01/15/2021 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,262 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Assoc.brkr-mur

Listing Agent's Description

Excellent home superbly located in beautiful Murrieta. This 3 bedroom, 2 bath,single-story home features a beautiful pool and spa all for under $400,000. The bright and airy floor plan is perfect for a smaller family or first-time homebuyers and an incredible value when you take into account the stainless steel appliances, nearly new furnace (less than 2 years old), basically brand new pool heater (less than a year old) and location at the end of a cul-de-sac and within the Murrieta school district.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,389
Property Tax -$429
Property Insurance -$58
Property Management Fees -$116
CASH FLOW
-$22

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.

$399,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.49%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$23,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.56

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,9005$1,970
$1,970
RENT COMPS ANALYSIS
  • 29731 Sawgrass Circle Murrieta, CA 5
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.56
    •  
  • 39282 Flamingo Bay Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,387 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,387 Sqft ∙ Built 2003
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.26
    •  
  • 37782 Spyglass Circle Murrieta, CA 2
    • 4 beds 3 baths ∙ 1,458 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,458 Sqft ∙ Built 1991
    property image
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.23
    •  
  • 39722 Princeton Way Murrieta, CA 3
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 2002
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.28
    •  
  • 29834 Tucana Place Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.28
    •  
PROPERTY LISTING DETAILS
Mynor Schult
Coldwell Banker Assoc.brkr-mur
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21009241
Last Updated: 01/15/2021
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