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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $210.62
- 2 Days on Market
- MLS # : SW21035981
- Updated Date : 02/20/2021 at 20:14
CONSTRUCTION
- Beds : 4
- Floor Size : 2,825 sqft
- Baths : 2 full , 1 half
Listing Agent
Temecula Elite Properties
Listing Agent's Description
Welcome to this Beautiful Turnkey 2 story home at the end of a cul-de-sac in a highly desirable part of Murrieta! Enter into a new upgraded +/-2825 sqft open floor plan with a kitchen that overlooks the family room and an outside living area with a new patio cover, outdoor ceiling fans and lights! This home offers a recently extended driveway, new flooring, remote control blinds, quartz countertops with an extended island, back splash, paint, oven, dishwasher, microwave, fixtures and upgraded indoor ceiling fans! If you're looking for a smart home, then this house is for you! Smart home Phillips hue lights are installed throughout the house, as well as an ecobee thermostat and ring cameras! The first floor includes a Jr. Suite with private bath, formal living/dining room, currently being used as a game room. Upstairs includes open loft, 2 oversized bedrooms and a Grand Master Suite with extra retreat and fireplace! No need to worry about a washer and dryer since they are included in the upstairs laundry room! It's great location is close to Award winning schools, shopping, parks, freeways and Wineries! No HOA and low taxes- this won't last long!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Winchester-Silverhawk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Winchester-Silverhawk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,550 |
| EXPENSES | Loan Payment | -$2,067 |
| Property Tax | -$614 | |
| Property Insurance | -$96 | |
| Property Management Fees | -$150 | |
|
CASH FLOW
-$376
|
||
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.
$595,000
PROJECTED PRICE
$2,550
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$163,425
LOAN DETAILS
$2,067
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $148,750 |
| Loan Amount | $446,250 |
2.33
YEARS SAVED
$10,215
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,550
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$2,564
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
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30583 Muir Court Temecula, CA 3
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39354 Salinas Drive Murrieta, CA 1
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LEASED 03/02/20- Rent
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- $2,400
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39437 Salinas Drive Murrieta, CA 2
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LEASED 11/02/20- Rent
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- $2,400
- $0.88
-
39279 Tiburon Drive Murrieta, CA 4
- 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2003
LEASED 03/20/20- Rent
- Rent Per SQFT
- $2,695
- $0.93
-
39159 Twin Creek Drive Temecula, CA 5
- 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 2013
LEASED 07/15/20- Rent
- Rent Per SQFT
- $2,800
- $0.93
PROPERTY LISTING DETAILS
Temecula Elite Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21035981
Last Updated: 02/20/2021
