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39371 San Thomas Court Murrieta, CA 92562

3 Beds 3 Baths 1,591 sqft Built 1988

$460,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $289.13
  • 2 Days on Market
  • MLS # : NDP2003509
  • Updated Date : 12/12/2020 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,591 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart Realty West

Listing Agent's Description

Start packing... This upgraded 3 bedroom, 2.5 bath charmer located in the heart of Murrieta is MOVE IN READY. 2 story, 1591 sqft, prime cul de sac lot! Features include newer paint, hickory floors, carpet in bedrooms, energy efficient windows, crown molding and white plantation shutters. Spacious backyard with aluminum covered patio. These are just a few of the many upgrades. Come see for yourself what this beauty has to offer. *NO HOA

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

Neighborhood: Murrieta Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Murrieta Oaks

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
Avaxat Elementary School Primary Regular 735 30 7
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Avaxat Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 30
7
GreatSchools Rating

Shivela Middle School

  • Education Level: Middle
  • # of students: 1,443
  • # of teachers: 52
8
GreatSchools Rating

Murrieta Mesa High School

  • Education Level: High
  • # of students: 2,198
  • # of teachers: 85
8
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,697
Property Tax -$464
Property Insurance -$66
Property Management Fees -$131
CASH FLOW
-$138

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.

$460,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$22,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $1,937

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$1,9954$2,1005$2,220
$2,220
RENT COMPS ANALYSIS
  • 39371 San Thomas Court Murrieta, CA 5
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.40
    •  
  • 39838 Western Jay Way Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1993
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.15
    •  
  • 24114 Whistling Swan Road Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 23999 Whistling Swan Road Murrieta, CA 3
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 39862 Tanager Trail Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.28
    •  
PROPERTY LISTING DETAILS
Pina Shaw
Homesmart Realty West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2003509
Last Updated: 12/12/2020
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