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37183 Ascella Lane Murrieta, CA 92563

3 Beds 3 Baths 1,795 sqft Built 2005

$374,999

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $208.91
  • 10 Days on Market
  • MLS # : SW20255807
  • Updated Date : 12/17/2020 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Welcome to your new home in the Griffith Place community! This beautiful home features a spacious 3 bedrooms, 2 bathrooms, +Office space being used as extra bedroom. Wooden kitchen cabinets, and granite countertops. You can expect natural light to fill this home, and the cozy fireplace to keep you warm during the Holidays. This home does include solar energy, as well as a porch enjoy with your loved ones! Located only a few miles from both the 215/15 freeway this home is so close to many desired shopping centers, parks, and amazing schools. Going LIVE 12/17

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

Zip Code: 92563

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Zip Code: 92563

ZipNIR 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
Monte Vista Elementary School Primary Regular 940 36 6
Dorothy Mcelhinney Middle School Middle Regular 1,308 48 8
Vista Murrieta High School High Regular 3,456 132 8

Monte Vista Elementary School

  • Education Level: Primary
  • # of students: 940
  • # of teachers: 36
6
GreatSchools Rating

Dorothy Mcelhinney Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 48
8
GreatSchools Rating

Vista Murrieta High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 132
8
GreatSchools Rating
 

$337,499$412,499$374,999

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,384
Property Tax -$393
Property Insurance -$71
HOA -$144
Property Management Fees -$124
CASH FLOW
-$5

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.

$374,999

PROJECTED PRICE

$2,110

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,249
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$26,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,123

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,1004$2,1105$2,400
$2,400
RENT COMPS ANALYSIS
  • 37183 Ascella Lane Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.18
    •  
  • 37215 Ascella Lane Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
    property image
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.16
    •  
  • 37258 Tucana Place Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 37263 Ascella Lane Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
  • 38081 Augusta Drive Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 1999
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Kimberly Steel
Signature Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20255807
Last Updated: 12/17/2020
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