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38473 Magdelena Street Murrieta, CA 92563

3 Beds 3 Baths 2,324 sqft Built 2005

$490,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $210.84
  • 3 Days on Market
  • MLS # : SW20259784
  • Updated Date : 01/01/2021 at 08:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era Donahoe Realty

Listing Agent's Description

This Rancho Bella Vista beauty is move in ready and shows like a model. Enjoy the new quality laminate wood flooring in all the living spaces for easy maintenance, and the brand new carpet in the bedrooms to feel all nice and warm under your toes on a cold winter morning. The kitchen boasts granite counters, stainless steel appliances, a great bar seating area and a view to the back yard from the sink. There's plenty of cabinet storage AND a pantry! Entertain easily with the open concept from the kitchen to family room with fireplace or enjoy your formal living and dining room just off the entry. Upstairs is a large loft area great for a movie room, extra "hang out" space or more! And, YES, the laundry room is upstairs for your convenience. The large master suite offers separate tub and shower, dual sink vanity and a spacious walk in closet. Outside the yard offers plenty of room for a pool and privacy with no rear neighbor. Just around the corner from the middle school and Rancho Bella Vista park, the location is ideal. Enjoy Lake Skinner close by, or the mall and easy access to both the 15 and 215 freeways for your commute. Don't wait - this one will be gone in a flash!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,808
Property Tax -$606
Property Insurance -$83
HOA -$40
Property Management Fees -$137
CASH FLOW
-$354

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.

$490,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.47%

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

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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,365

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3204$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 38473 Magdelena Street Murrieta, CA 3
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.00
    •  
  • 38350 Quiet Run Court Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2003
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 38939 Autumn Woods Road Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2002
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 37739 River Oats Lane Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2016
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
  • 38937 Rockinghorse Road Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 2003
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
PROPERTY LISTING DETAILS
Katherine Materiale
Era Donahoe Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20259784
Last Updated: 01/01/2021
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