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36004 Corte Renata 
Murrieta, CA
92562
4 Beds 3 Baths 2,262 sqft
Built 1997
INVESTimate
$509,777
List Price
$140,841
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PROPERTY INFO
FACTS
- Built In 1997
- Price/Sqft : $225.37
- 14 Days on Market
- MLS # : SW20162880
- Updated Date : 08/13/2020 at 14:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,262 sqft
- Baths : 2 full , 1 half
Listing Agent
Allison James Estates & Homes
Listing Agent's Description
Rare single story Murrieta gem with upgrades galore and all the special features which make a house a home. This home has been meticulously maintained and carefully curated with appealing finishing touches. The inviting hardscape entrance to the home opens into the living area with soaring high ceilings and wide plank wood like flooring throughout. The spacious kitchen with new cabinets, solid surface counters with stainless steel appliances is open to the family room with a fireplace and the outdoor entertainment area. The covered patio overlooks the huge spacious yard which also has RV parking and is suitable for a pool or just soothing yard. The Master bedroom has a slider to the yard and a cool, gray updated bathroom with custom tiled separate shower and tub and dual vanities. There are two secondary bedrooms which share a bathroom and another bedroom which is currently configured as an office. and a half bathroom for guests. Best of all there is a three car garage and the home is located in a low tax area with convenient access to amenities and freeways.
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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
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greer Ranch
* 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 | $2,310 |
| EXPENSES | Loan Payment | -$1,881 |
| Property Tax | -$513 | |
| Property Insurance | -$82 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$302
|
||
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.
$509,777
PROJECTED PRICE
$2,310
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.86% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$140,841
LOAN DETAILS
$1,881
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $127,444 |
| Loan Amount | $382,333 |
2.75
YEARS SAVED
$13,343
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,310
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$2,302
COMP ESTIMATED VALUE -
$1.02
COMP AVG. RENT PER SQFT
Comps Range
-
36004 Corte Renata Murrieta, 3
- 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1997
- Rent
- Rent Per SQFT
- $2,310
- $1.02
-
24106 Crowned Partridge Lane Murrieta, 1
- 3 beds 3 baths ∙ 2,153 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,153 Sqft ∙ Built 1990
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,050
- $0.95
-
36250 Chittam Wood Place Murrieta, 2
- 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004
LEASED 04/28/20- Rent
- Rent Per SQFT
- $2,300
- $1.03
-
24700 Pantera Court Murrieta, 4
- 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1988
LEASED 02/26/20- Rent
- Rent Per SQFT
- $2,400
- $1.04
-
23792 Castinette Way Murrieta, 5
- 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,378 Sqft ∙ Built 1989
LEASED 07/29/20- Rent
- Rent Per SQFT
- $2,500
- $1.05
PROPERTY LISTING DETAILS
Allison James Estates & Homes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20162880
Last Updated: 08/13/2020
