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34784 Oakwood Lane Murrieta, CA 92563

3 Beds 3 Baths 2,212 sqft Built 2015

$457,500

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $206.83
  • 7 Days on Market
  • MLS # : SW20227659
  • Updated Date : 10/28/2020 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,212 sqft
  • Baths : 2 full , 1 half
Listing Agent

Atlas Realty & Prop. Mgt., Inc

Listing Agent's Description

Beautifully manicured home located in the heart of Murrieta. Minutes from the 215 and 15 freeway. NO HOA! Well-maintained and super clean. 3 bedrooms and 2.5 bathrooms with a BONUS room! The bonus room could be used as a bedroom, office, den, or movie room! Upgraded floors! Super clean! Super special! Super unique! Don't miss out on this wonderful opportunity to own a piece of California!

SEE MORE

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

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
 

$411,750$503,250$457,500

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,688
Property Tax -$472
Property Insurance -$81
Property Management Fees -$135
CASH FLOW
-$86

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.

$457,500

PROJECTED PRICE

$2,290

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,988

INVESTMENT

$126,988

Down Payment
$114,375
Rehab Estimate
$5,750
Closing Costs
$6,863

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,688

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,375
Loan Amount $343,125
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$27,048

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,290

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,328

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,2953$2,2954$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 34784 Oakwood Lane Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.04
    •  
  • 28384 Ware Street Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 28508 Kara Street Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2005
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.10
    •  
  • 28319 Kara Street Murrieta, CA 4
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 28399 Ware Street Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,343 Sqft ∙ Built 2005
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.01
    •  
PROPERTY LISTING DETAILS
Glendon Gopaul
Atlas Realty & Prop. Mgt., Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20227659
Last Updated: 10/28/2020
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