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34383 Prairie Creek Pl Murrieta, CA 92563

4 Beds 3 Baths 2,683 sqft Built 2019

$575,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
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.

SEE MORE

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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $133k584k

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

Neighborhood: Golden City

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
Oak Meadows Elementary School Primary Regular 1,014 40 8
Bell Mountain Middle School Middle Regular 1,173 49 7
Paloma Valley High School High Regular 2,844 101 6

Oak Meadows Elementary School

  • Education Level: Primary
  • # of students: 1,014
  • # of teachers: 40
8
GreatSchools Rating

Bell Mountain Middle School

  • Education Level: Middle
  • # of students: 1,173
  • # of teachers: 49
7
GreatSchools Rating

Paloma Valley High School

  • Education Level: High
  • # of students: 2,844
  • # of teachers: 101
6
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

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

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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

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
$2,300
1$2,3002$2,4503$2,4954$2,5405$2,650
$2,650
RENT COMPS ANALYSIS
  • 34383 Prairie Creek Pl Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
  • 33553 Iris Lane Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2002
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 28739 Lavatera Avenue Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2004
    property image
    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
    property image
    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
Christa Sloan
Berkshire Hathaway Homeservice
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2100557
Last Updated: 01/16/2021
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