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34706 Elkhorn Court 
Murrieta, CA
92563
4 Beds 2 Baths 2,925 sqft
Built 2016
INVESTimate
$509,999
List Price
$140,900
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PROPERTY INFO
FACTS
- Built In 2016
- Price/Sqft : $174.36
- 14 Days on Market
- MLS # : SW20164400
- Updated Date : 08/20/2020 at 14:49
CONSTRUCTION
- Beds : 4
- Floor Size : 2,925 sqft
- Baths : 2 full
Listing Agent
Exp Realty Of California, Inc.
Listing Agent's Description
Gorgeous two story Solar home in quiet Murrieta neighborhood! Modern neutral paint and beautiful deep brown flooring flow throughout the house. The kitchen boasts a wide open layout, bright white cabinetry and granite topped island with room for additional seating. Large windows, ceiling fans and potlighting give this home an airy, light feel. Upstairs, the spacious bedrooms echo the homes inviting layout. An enclosed loft provides the perfect entertainment space. The large master and ensuite complete with a walk in closet is the ideal homeowners retreat! The custom concrete patio in the backyard offers plenty of space for backyard barbeques with friends and family out in the California sun. This home is just waiting on you to make it yours!
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MARKET HIGHLIGHTS
- 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)
- 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.
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
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,590 |
| EXPENSES | Loan Payment | -$1,882 |
| Property Tax | -$516 | |
| Property Insurance | -$98 | |
| HOA | -$35 | |
| Property Management Fees | -$153 | |
|
CASH FLOW
-$94
|
||
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.
$509,999
PROJECTED PRICE
$2,590
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 7.22% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$140,900
LOAN DETAILS
$1,882
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $127,500 |
| Loan Amount | $382,499 |
4.83
YEARS SAVED
$30,041
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,590
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$2,691
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
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34706 Elkhorn Court Murrieta, 3
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- Rent
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LEASED 04/14/20- Rent
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- $2,300
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LEASED 07/02/20- Rent
- Rent Per SQFT
- $2,550
- $0.98
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- 4 beds 4 baths ∙ 3,200 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,200 Sqft ∙ Built 2018
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LEASED 08/11/19- Rent
- Rent Per SQFT
- $2,800
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LEASED 08/11/20- Rent
- Rent Per SQFT
- $2,800
- $0.93
PROPERTY LISTING DETAILS
Exp Realty Of California, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20164400
Last Updated: 08/20/2020
