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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $197.87
- 4 Days on Market
- MLS # : 210001028
- Updated Date : 01/14/2021 at 19:56
CONSTRUCTION
- Beds : 4
- Floor Size : 2,628 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California Inc
Listing Agent's Description
Enjoy everything you need on a single story in this 4 bedroom, 2 bathroom Murrieta home. Built in 2014, this home features an open concept living space with plenty of cabinet and countertop space in the kitchen helping to make this home an entertainers dream. Step outside under the patio cover to enjoy time outdoors year-round in the shade. A spacious primary bedroom with a large attached bathroom featuring a deep tub, shower and double vanities, offer an inviting escape from the everyday. A bonus space could be used as a den, playroom or office space. A widened driveway allows for plenty of off-street parking, in addition to the attached 2 car garage. With a solar panels on a power purchase agreement, you can stay cool all summer with the help of the sun to offset summer's sometimes oversized utility bills. Property also features a life source salt less water purification system, a tankless water heater and artificial turf in the spacious, private back yard. Don't miss this phenomenal single story Murrieta property. Equipment: Dryer, Range/Oven, Washer Other Fees: 0 Sewer: Sewer Connected Topography: LL
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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
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 | $2,540 |
| EXPENSES | Loan Payment | -$1,806 |
| Property Tax | -$526 | |
| Property Insurance | -$91 | |
| HOA | -$39 | |
| Property Management Fees | -$150 | |
|
CASH FLOW
-$72
|
||
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.
$520,000
PROJECTED PRICE
$2,540
PROJECTED RENT
0.49%
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
$143,550
LOAN DETAILS
$1,806
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $130,000 |
| Loan Amount | $390,000 |
4.92
YEARS SAVED
$26,251
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,540
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,720
COMP ESTIMATED VALUE -
$1.04
COMP AVG. RENT PER SQFT
Comps Range
-
30486 Mahogany St Murrieta, CA 1
- 4 beds 2 baths ∙ 2,628 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,628 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $2,540
- $0.97
-
30169 Alfalfa Lane Murrieta, CA 2
- 3 beds 3 baths ∙ 2,607 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,607 Sqft ∙ Built 2014
LEASED 07/02/20- Rent
- Rent Per SQFT
- $2,550
- $0.98
-
35341 Evening Glow Drive Murrieta, CA 3
- 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 2010
LEASED 08/28/20- Rent
- Rent Per SQFT
- $2,595
- $1.00
-
35703 Date Palm Street Winchester, CA 4
- 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2004
LEASED 10/17/20- Rent
- Rent Per SQFT
- $2,700
- $1.05
-
35616 Hawkeye Street Murrieta, CA 5
- 4 beds 2 baths ∙ 2,617 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,617 Sqft ∙ Built 2010
LEASED 01/30/20- Rent
- Rent Per SQFT
- $2,900
- $1.11
PROPERTY LISTING DETAILS
Exp Realty Of California Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 210001028
Last Updated: 01/14/2021
