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29747 Ski Ranch Street Murrieta, CA 92563

4 Beds 3 Baths 2,822 sqft Built 2005

$595,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $210.84
  • 11 Days on Market
  • MLS # : SW21018334
  • Updated Date : 02/04/2021 at 11:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,822 sqft
  • Baths : 3 full
Listing Agent

National Realty Group

Listing Agent's Description

ENDLESS POSSIBILITIES & OPTIONS!!! CASITA!!! POSSIBLE MULTI-GENERATIONAL, INCOME SUITE, HOME BASED BUSINESS, OFFICE, STUDENT STUDY CENTER, AIRBNB, ADDITIONAL BEDROOMS... ETC... ETC. CASITA IS ALMOST COMPLETED (THE SEPARATED 3RD CAR BAY IS CURRENTLY USED AS LIVING ROOM OFF DOWNSTAIRS BEDROOM... & WITH A LITTLE ADDITIONAL IMPROVEMENT... CAN BECOME A LARGE SEPARATED CASITA/SUITE WITH A SEPARATE BEDROOM & BATHROOM). HOME CURRENTLY HAS 4 BEDROOMS & 3 BATHS... (1 MAINFLOOR BEDROOM & 3/4 BATH). THERE IS FORMAL LIVING & DINING ROOMS & OPEN CONCEPT "GREAT ROOM". THE CHEF'S KITCHEN CONSISTS OF EXTENSIVE CABINETRY, HUGE PREP ISLAND, DINING AREA & LARGE GATHERING ROOM WHICH LEADS TO A BEAUTIFUL "HUMMINGBIRD HAVEN" BACK YARD. THE MASTER SUITE HAS AN ADDITIONAL SITTING AREA THAT BUILDER ORIGINALLY OFFERED AS AN OPTIONAL 5TH BEDROOM. MASTER BATH IS VERY SPACIOUS WITH DUAL SINKS, SOAKING TUB & SEPARATE SHOWER, PRIVATE TOILET, DRESSING AREA & HUGE WALK IN CLOSET. SECONDARY BEDROOMS ARE VERY COMFORTABLE & ADJACENT TO A MASSIVE LOFT WHICH HAS AN ADDITIONAL STUDY/LIBRARY/GAME STATION ANEX. THERE'S A LARGE LAUNDRY ROOM UPSTAIRS & A SECONDARY BATH THAT FEATURES DUAL SINKS & PRIVATE SHOWER/TUB/TOILET ROOM. THERE IS A SEPARATED OVERSIZED 2 CAR GARAGE, & THE YARD SPACE ARE VERY PRIVATE & SERENE WITH MATURE LANDSCAPING, HARDSCAPE & MANY MANY FRUIT TREES (GALA APPLE, ASIAN PEAR, AVOCADO, SWEET LIME, FUYU PERSIMMON & LEMON). CORNER LOT... CLEAR TERMITE REPORT... CAN BE VERY QUICK ESCROW. A MUST SEE!

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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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$2,067
Property Tax -$623
Property Insurance -$95
Property Management Fees -$135
CASH FLOW
-$630

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.

$595,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.38%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,397

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,434

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2503$2,2904$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 29747 Ski Ranch Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,822 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.81
    •  
  • 29772 Sceptrum Street Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,736 Sqft ∙ Built 2005
    property image
    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
    property image
    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
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.95
    •  
  • 29438 Via Espada Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2002
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kimberly Norton-mercer
National Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21018334
Last Updated: 02/04/2021
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