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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $231.20
- 2 Days on Market
- MLS # : SW21057702
- Updated Date : 03/20/2021 at 10:52
CONSTRUCTION
- Beds : 3
- Floor Size : 1,795 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Assoc.brkr-mur
Listing Agent's Description
Welcome to the prestigious and highly sought-after community of Griffith Place. This community offers all the best amenities including a pool, spa, parks, playgrounds, and RV parking. Located in Murrieta, close to great schools, shopping, golf courses and easy access to all major freeways for commuters. This beautifully well-maintained home has everything you have been looking for, it features 3 Bedrooms, 2.5 Bathrooms, indoor laundry room conveniently located upstairs, beautiful kitchen with tile counter tops and upgraded appliances, spacious family room with a gas fireplace and a separate living room and dining room. The master bedroom is spacious and offers a large walk-in closet, the master bathroom features a separate stall shower a jetted bathtub and dual sinks. The backyard patio area is perfect for your pets and offers low maintenance landscaping, but still perfect for relaxing and enjoyable to BBQ and entertain guests.
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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 | $1,980 |
| EXPENSES | Loan Payment | -$1,441 |
| Property Tax | -$435 | |
| Property Insurance | -$71 | |
| HOA | -$144 | |
| Property Management Fees | -$117 | |
|
CASH FLOW
-$228
|
||
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.
$415,000
PROJECTED PRICE
$1,980
PROJECTED RENT
0.48%
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
$115,725
LOAN DETAILS
$1,441
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $103,750 |
| Loan Amount | $311,250 |
2.42
YEARS SAVED
$7,783
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,980
LIST RENT -
$1.1
LIST RENT PER SQFT
-
$2,194
COMP ESTIMATED VALUE -
$1.22
COMP AVG. RENT PER SQFT
Comps Range
-
29810 Tucana Place Murrieta, CA 3
- 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $1,980
- $1.10
-
37215 Ascella Lane Murrieta, CA 1
- 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
LEASED 11/03/19- Rent
- Rent Per SQFT
- $1,895
- $1.16
-
29834 Tucana Place Murrieta, CA 2
- 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 2005
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,900
- $1.28
-
37263 Ascella Lane Murrieta, CA 4
- 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
LEASED 01/31/20- Rent
- Rent Per SQFT
- $2,100
- $1.17
-
37186 Tucana Place Murrieta, CA 5
- 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2005
LEASED 11/20/20- Rent
- Rent Per SQFT
- $2,300
- $1.28
PROPERTY LISTING DETAILS
Coldwell Banker Assoc.brkr-mur
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21057702
Last Updated: 03/20/2021
