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37988 Honey Pine Road Murrieta, CA 92563

4 Beds 3 Baths 2,017 sqft Built 2013

$515,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $255.33
  • 7 Days on Market
  • MLS # : SW21054361
  • Updated Date : 03/20/2021 at 10:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,017 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Temecula

Listing Agent's Description

Spacious 2-story Cul-de-Sac home in the desirable Rancho Bella Vista community of Murrieta. If you like to cook and entertain; we got you covered with an open kitchen featuring granite countertops, including a large island and stainless steel appliances. From the kitchen, look out into the great room which is complete with fireplace and tile flooring through the main living area. Open the sliding patio doors and step out onto the large allumawood patio cover complete with ceiling fans for those hot summer days. Looking beyond that you have a lush green yard with producing fruit trees which are super delicious! Sprinkler system throughout the yard to include a drip system for the drought tolerant landscaping. Downstairs you have a half bathroom and laundry room with storage cabinets. Upstairs; before you get to the bedrooms you will walk past the loft/media room with walk out to a patio deck. The master suite is breath taking and the master closet is large for any clothing enthusiast. The en suite has dual sinks and a separate tub and walk-in shower with glass enclosure. Home features tankless water heaters and **** updated based on new information: solar will need to transfer to new owner. Located inside the Temecula Valley School District; this home is walking distance to the elementary and middles schools. Low HOA and Low taxes…..This home is only minutes from the 15 and 215 freeways and is a must see.

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: Rancho Bella Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Rancho Bella Vista

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
Alamos Elementary School Primary Regular 829 32 9
Bella Vista Middle School Middle Regular 1,148 44 8
Chaparral High School High Regular 3,237 120 9

Alamos Elementary School

  • Education Level: Primary
  • # of students: 829
  • # of teachers: 32
9
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
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,789
Property Tax -$637
Property Insurance -$76
HOA -$40
Property Management Fees -$140
CASH FLOW
-$302

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.

$515,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $2,405

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3803$2,4004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 37988 Honey Pine Road Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.18
    •  
  • 31918 Blanca Court Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,910 Sqft ∙ Built 2005
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 37545 Coffeeberry Court Murrieta, CA 3
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2013
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.24
    •  
  • 31088 Rose Arbor Court Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2012
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 31058 Rose Arbor Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 2012
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
PROPERTY LISTING DETAILS
Joseph Onello
Kw Temecula
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21054361
Last Updated: 03/20/2021
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