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36226 Chittam Wood Place Murrieta, CA 92562

4 Beds 3 Baths 2,621 sqft Built 2004

$525,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $200.31
  • 5 Days on Market
  • MLS # : SW21002298
  • Updated Date : 01/07/2021 at 15:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,621 sqft
  • Baths : 3 full
Listing Agent

Re/max Champions

Listing Agent's Description

Rare opportunity to own what is probably the most desirable floorplan in the desirable community of "Murrieta Oaks". This model has the feel of a single story with the main bedroom plus two additional bedrooms downstairs. Upstairs you will find a spacious loft as well as a 4th bedroom and 3/4 bath. This open concept layout has a mixture of tile and engineered hardwood flooring with absolutely zero carpet. The kitchen features an island with bar seating, abundant white cabinetry, and granite counter tops. The family room boasts a built in desk and gas fireplace. The master bath has been remodeled with a luxury feel. The front yard has been professionally hardscaped and is very low maintenance. Our back, you will find a private backyard with no homes directly behind... great for a pool! Close to top Murrieta schools, shopping and highways. Come see this one quickly!

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: Murrieta Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Murrieta Oaks

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
Antelope Hills Elementary School Primary Regular 812 32 9
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Antelope Hills Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 32
9
GreatSchools Rating

Shivela Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 52
8
GreatSchools Rating

Murrieta Mesa High School

  • Education Level: High
  • # of students: 2,198
  • # of teachers: 85
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,824
Property Tax -$548
Property Insurance -$91
Property Management Fees -$146
CASH FLOW
-$128

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.

$525,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.4%
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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4803$2,4954$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 36226 Chittam Wood Place Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.95
    •  
  • 36145 Thousand Oaks Place Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 36801 Longbranch Avenue Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 2003
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.97
    •  
  • 26508 Veramonte Avenue Murrieta, CA 4
    • 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.00
    •  
  • 36313 Chittam Wood Place Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2004
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Chris Rice
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21002298
Last Updated: 01/07/2021
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