Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

30375 Summerside Street Murrieta, CA 92563

4 Beds 3 Baths 2,316 sqft Built 1991

$505,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $218.05
  • 6 Days on Market
  • MLS # : SW20231390
  • Updated Date : 11/05/2020 at 11:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,316 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Ca Properties

Listing Agent's Description

Beautiful, upgraded, four-bedroom home on a cul-de-sac is now available. If you are looking for a wonderful home in the award-winning Temecula Valley Unified School District – this is the one! Located in a peaceful neighborhood, this home is move-in ready. The spacious kitchen has granite counters and stainless-steel appliances just installed last year. The home’s flooring is a great combination of tile and carpet. All of this, low taxes, and a close drive to Temecula Wine Country, Pechanga Resort & Casino, schools, shopping and freeways.

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: Winchester-Silverhawk

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Winchester-Silverhawk

NeighborhoodNIR 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
Nicolas Valley Elementary School Primary Regular 753 29 6
James L. Day Middle School Middle Regular 994 38 8
Chaparral High School High Regular 3,237 120 9

Nicolas Valley Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 29
6
GreatSchools Rating

James L. Day Middle School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 38
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 3,237
  • # of teachers: 120
9
GreatSchools Rating
 

$454,500$555,500$505,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,863
Property Tax -$455
Property Insurance -$83
Property Management Fees -$135
CASH FLOW
-$256

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.

$505,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.7%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$139,575

INVESTMENT

$139,575

Down Payment
$126,250
Rehab Estimate
$5,750
Closing Costs
$7,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $126,250
Loan Amount $378,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$16,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,304

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2803$2,3004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 30375 Summerside Street Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.98
    •  
  • 30338 Conn Creek Circle Temecula, CA 1
    • 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 2002
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 39552 Coral Sky Court Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 1995
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 39321 Calistoga Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1993
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
  • 39669 Ridgecrest Street Murrieta, CA 5
    • 5 beds 3 baths ∙ 2,500 Sqft ∙ Built 1992 5 beds 3 baths ∙ 2,500 Sqft ∙ Built 1992
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Adam Pierson
Bhhs Ca Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20231390
Last Updated: 11/05/2020
BESbswy