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36369 Provence Drive Murrieta, CA 92562

4 Beds 3 Baths 1,737 sqft Built 1988

$450,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $259.07
  • 4 Days on Market
  • MLS # : SW20203054
  • Updated Date : 11/14/2020 at 05:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reliable Realty Inc.

Listing Agent's Description

Come and see this beautiful Murrieta 4 bedroom 3 bath home, near the end of a low traffic cul-de-sac, centrally located near the 15/215 freeways. FHA and VA welcome to this home in a highly sought after area of Murrieta. High vaulted ceilings with stone flooring upon entry lead to a family room with fireplace. Granite countertops in the kitchen with new stainless steel appliances and extra large stainless kitchen sink. All four bedrooms are upstairs, Master bathroom has two gorgeous separated sinks with mirrors and jacuzzi jet tub. Second bathroom has matching granite with three mirrors and Vanity chair seating. Within walking distance to Point Lookout Park, Valley Vista Park, Glen Arbor Park, Mountain Pride Park, a mile to Murrieta Barratt Park and Century Park, 2 miles to Los Alamos Hills Sports Park, Rancho Acacias Park, Valley Vista Park, California Oaks Park and California Oaks Golf Club you are surrounded by Parks and Recreation. Area is served by the Murrieta Valley Unified School District which includes Antelope Hills Elementary, Avaxet Elementary School, Shivela Middle School and Murrieta Mesa High School. Tons of shopping from the Orchard shopping center off Clinton Keith to Target, Walmart, Lowes and Home Depot just south of house on Kalmia Street. Don't miss this amazing opportunity with low Tax rate and NO HOA's!

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
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,660
Property Tax -$454
Property Insurance -$69
Property Management Fees -$117
CASH FLOW
-$311

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.

$450,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,028

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9903$1,9954$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 36369 Provence Drive Murrieta, CA 2
    • 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.15
    •  
  • 39838 Western Jay Way Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1993
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.15
    •  
  • 24114 Whistling Swan Road Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 36194 Toulon Drive Murrieta, CA 4
    • 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 39787 Castile Avenue Murrieta, CA 5
    • 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1988
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kellee Spillman-malone
Reliable Realty Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20203054
Last Updated: 11/14/2020
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