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37297 Galileo Lane Murrieta, CA 92563

3 Beds 3 Baths 1,795 sqft Built 2005

$389,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $217.21
  • 5 Days on Market
  • MLS # : 20668746
  • Updated Date : 12/09/2020 at 09:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full , 1 half
Listing Agent

Central Real Estate

Listing Agent's Description

Great Property in a gated community. Property is move in conditions. 2 Story house with 3 bedrooms and 2.5 baths with 2 car garages attached. The property has a great view of the community pool and spa. Large master suite with jet-tub. Private patio in the back. A must see.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,439
Property Tax -$408
Property Insurance -$71
HOA -$144
Property Management Fees -$116
CASH FLOW
-$208

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.

$389,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.51%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$10,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,091

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9703$1,9954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 37297 Galileo Lane Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.10
    •  
  • 37215 Ascella Lane Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.16
    •  
  • 37202 Tucana Place Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.11
    •  
  • 37258 Tucana Place Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,636 Sqft ∙ Built 2005
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 37263 Ascella Lane Murrieta, CA 5
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 2005
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.17
    •  
PROPERTY LISTING DETAILS
Nora Ochoa
Central Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20668746
Last Updated: 12/09/2020
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