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29827 Gardenia Circle Murrieta, CA 92563

3 Beds 2 Baths 2,090 sqft Built 2001

$550,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $263.16
  • 3 Days on Market
  • MLS # : SW21009920
  • Updated Date : 01/16/2021 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,090 sqft
  • Baths : 2 full
Listing Agent

Trillion Real Estate

Listing Agent's Description

This charming, single-story Murrieta POOL HOME with NO HOA is ready to welcome in a new family. Sitting within a cul-de-sac, it's unique layout offers a formal dining room to the right when you walk in, and a formal living room to the left while maintaining an open feel. Hardwood floors and neutral paint flow throughout all of the main living areas. Continue into the kitchen, complete with granite counters, large center island, breakfast bar, stainless steel appliances, and tons of natural light. There is a bonus desk nook just adjacent, along with the laundry closet and large pantry. The kitchen overlooks the spacious family room, featuring a fireplace. Enjoy having a huge, private master suite, that includes a bonus reading area, dual sinks in the master bath, soaking tub, enclosed shower, and large walk-in closet. You also have direct access to the spa in the backyard! One bedroom is just down the hall and the other is toward the front of the home and includes built-in cabinets and desk. These bedrooms share a jack-n-jill style bathroom! Enjoy some time in the peaceful backyard, equipped with a concrete patio, patio covers, pool, spa and lush landscaping! A beautiful home with much to offer a new family.

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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

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,910
Property Tax -$576
Property Insurance -$78
Property Management Fees -$136
CASH FLOW
-$400

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.

$550,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.42%

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$6,946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,3004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 29827 Gardenia Circle Murrieta, CA 4
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 37202 Tucana Place Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
  • 38345 Augusta Drive Murrieta, CA 2
    • 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 3
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Tyson Robinson
Trillion Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21009920
Last Updated: 01/16/2021
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