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37088 Running Springs Road Murrieta, CA 92563

4 Beds 2 Baths 1,991 sqft Built 2011

$465,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $233.55
  • 3 Days on Market
  • MLS # : SW20246491
  • Updated Date : 11/27/2020 at 17:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,991 sqft
  • Baths : 2 full
Listing Agent

Allison James Estates & Homes

Listing Agent's Description

LOOKING FOR "HOME SWEET HOME"? WELL, HERE IT IS!!! This beautiful, charming single story home has everything you want and much, much more! This gorgeous 1991 SQ FT home boasts 4 bedrooms and 2 full bathrooms, an open concept kitchen/living room combination, an ENTERTAINER'S DREAM! Flooring/baseboards are brand new throughout, include high-end wood-look vinyl floors through the main living space and bathrooms. New carpet in all the bedrooms. This excellent kitchen offers a large island with bar seating, plenty of cabinets in a dark wood shaker design. Brand new stone look back splash and upgraded Kitchen Aid stainless steel appliances. Sliding doors open up to large brick paver patio, grass yard, fire pit and planter boxes. Gorgeous bathrooms are done top to bottom with new vanities, mirrors, high-end design includes Carrera marble countertops and shiplap accent wall. The Master suite is thoughtfully appointed away from the other bedrooms, with a beautiful wood accent wall an en suite bathroom with soaking tub, vanity, separate shower and water closet. There are too many upgrades to list. This stunning home will not last long, Don't miss out!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Crown Valley Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k669k

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

Neighborhood: Crown Valley Village

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21200140016001800200022002400Rent in $10822559

* 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
French Valley Elementary School Primary Regular 893 34 8
Bella Vista Middle School Middle Regular 1,148 44 8
Chaparral High School High Regular 3,237 120 9

French Valley Elementary School

  • Education Level: Primary
  • # of students: 893
  • # of teachers: 34
8
GreatSchools Rating

Bella Vista Middle School

  • Education Level: Middle
  • # of students: 1,148
  • # of teachers: 44
8
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 3,237
  • # of teachers: 120
9
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,716
Property Tax -$480
Property Insurance -$75
Property Management Fees -$136
CASH FLOW
-$106

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.

$465,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.3%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,728

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2503$2,3004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 37088 Running Springs Road Murrieta, CA 3
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.16
    •  
  • 37433 Paseo Violeta Murrieta, CA 1
    • 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 2012 4 beds 3 baths ∙ 1,831 Sqft ∙ Built 2012
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.09
    •  
  • 31715 Palo Verde Court Winchester, CA 2
    • 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,977 Sqft ∙ Built 2003
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.14
    •  
  • 37545 Coffeeberry Court Murrieta, CA 4
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2013
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.24
    •  
  • 31701 Alder Court Winchester, CA 5
    • 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,138 Sqft ∙ Built 2003
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.15
    •  
PROPERTY LISTING DETAILS
Chad Staat
Allison James Estates & Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20246491
Last Updated: 11/27/2020
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