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29787 Hunter Road Murrieta, CA 92563

3 Beds 2 Baths 2,156 sqft Built 2000

$649,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $301.44
  • 5 Days on Market
  • MLS # : SW21007941
  • Updated Date : 01/13/2021 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,156 sqft
  • Baths : 2 full
Listing Agent

Bhhs Ranch & Coast Real Estate

Listing Agent's Description

Stunning upgraded pool home with golf course and lake views! These homeowners spend over $150,000 in upgrades within the last 18 months including a smart double-oven with power attachments, steamer, built-in microwave, roll-out cabinetry, tray cupboard, roll-out spice rack, 48 bottle capacity wine-cooler with dual temperature, reverse osmosis water system, whole house water softener, a solar system with a back-up battery, and Brinks Security alarm system. This beautiful home features a fireplace in the dining area, a breakfast bar for stool seating, plantation shutters & roller shades, recessed lighting, crown molding, Travertine tile & laminate flooring throughout. Each of the spacious bedrooms features a ceiling fan & generous closet space. The master bathroom features dual sinks, a vanity area, and a walk-in shower. Outside there is a covered patio & built-in gas BBQ, perfect for outdoor entertaining while being immersed in the beautiful rolling, green golf course & sparkling lake views, and enjoy the solar-heated pool & jacuzzi year-round. This home even has direct access to the golf course from the backyard gate! There's also a gated dog run and large RV parking space with a pull-through gate and complete RV hookups. The side yard features three spacious storage sheds and a raised planter with lemon & lime trees. Not only is this home beautiful, it's also located in a great school district, nearby restaurants and shopping centers, and no HOA! Come see it today!

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

Neighborhood: Murrieta Hot Springs

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Murrieta Hot Springs

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822387

* 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
 

$584,910$714,890$649,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,257
Property Tax -$667
Property Insurance -$79
Property Management Fees -$136
CASH FLOW
-$830

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.

$649,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,974

INVESTMENT

$177,974

Down Payment
$162,475
Rehab Estimate
$5,750
Closing Costs
$9,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,257

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,475
Loan Amount $487,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,345

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3104$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 29787 Hunter Road Murrieta, CA 3
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.07
    •  
  • 38345 Augusta Drive Murrieta, CA 1
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 1998
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.13
    •  
  • 29704 Masters Drive Murrieta, CA 2
    • 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
  • 37961 Veranda Way Murrieta, CA 4
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2002
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.12
    •  
  • 31008 Waterton Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,277 Sqft ∙ Built 2013
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.03
    •  
PROPERTY LISTING DETAILS
Destry Johnson
Bhhs Ranch & Coast Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21007941
Last Updated: 01/13/2021
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