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PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $214.31
- 2 Days on Market
- MLS # : NDP2100557
- Updated Date : 01/16/2021 at 17:40
CONSTRUCTION
- Beds : 4
- Floor Size : 2,683 sqft
- Baths : 3 full
Listing Agent
Berkshire Hathaway Homeservice
Listing Agent's Description
Beautiful home with all the upgrades. Shows like a model home! Solar is included and paid off with no lease. 4 bedrooms, 3 full baths with one bedroom and full bath downstairs currently being used as a workout room. Work from home in your private office located on the lower level.. Open space view behind your completely landscaped, no maintenance, water efficient yard. This home has a spacious front porch with lots of room for furniture, sitting and relaxing and visiting with your new neighbors. Large backyard patio and awning are full length of the house. Very little water and power bill. This nicely designed open concept home has a very large family room near the kitchen and dining room. Kitchen has a beautiful island, granite counters, stainless steel appliances, and gorgeous shaker cabinetry. Stunning luxury vinyl flooring throughout the home with some carpet in upstairs bedrooms. The master suite has a large walk-in closet, separate tub and shower, dual sinks, granite counters. Oversized loft area upstairs perfect for home theater, play room, bedroom conversion or extra family room. Efficient tankless hot water heater. No HOA! Quiet cul-de-sac with wide street. Easy access to I-15 in a growing area with lots of upcoming shopping and restaurants.
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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
Neighborhood: Golden City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Golden City
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,450 |
| EXPENSES | Loan Payment | -$1,997 |
| Property Tax | -$593 | |
| Property Insurance | -$92 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
-$377
|
||
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.
$575,000
PROJECTED PRICE
$2,450
PROJECTED RENT
0.43%
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
$158,125
LOAN DETAILS
$1,997
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $143,750 |
| Loan Amount | $431,250 |
2.25
YEARS SAVED
$9,195
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,450
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$2,442
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
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- $2,450
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LEASED 08/25/20- Rent
- Rent Per SQFT
- $2,300
- $0.89
-
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LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,495
- $0.91
-
34801 Southwood Avenue Murrieta, CA 4
- 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2016
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LEASED 01/11/20- Rent
- Rent Per SQFT
- $2,540
- $0.92
-
28507 Cottage Way Murrieta, CA 5
- 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,865 Sqft ∙ Built 2015
![property image]()
LEASED 10/24/20- Rent
- Rent Per SQFT
- $2,650
- $0.92
PROPERTY LISTING DETAILS
Berkshire Hathaway Homeservice
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: NDP2100557
Last Updated: 01/16/2021
