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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $228.56
- 6 Days on Market
- MLS # : TR20240181
- Updated Date : 11/17/2020 at 13:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,052 sqft
- Baths : 2 full , 1 half
Listing Agent
Kw Vision
Listing Agent's Description
Welcome to this well-kept Murrieta POOL home on an oversized 9,583 Sq Ft lot. The welcoming and private front courtyard is perfect for morning coffee and hosting friends and family for an evening beverage. This 4 Bedroom, 2.5 Bath 2,052 Sq Ft home is situated at the top of the community with views of the hills and no neighbors behind you on an oversized lot which features a crystal clear pool, space for entertaining and dining outside as well as your desired backyard activities. The interior of the home features a formal living room, dining room and kitchen which opens up to the family room with fireplace. Additional features include inside laundry, 3 car garage and powder room downstairs. Upstairs, this home has 4 bedrooms and 2 bathrooms, including the master suite with recently updates to the bathroom. The indoor/outdoor living options of this home are inspiring and endless. We invite you to come see for yourself.
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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: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,290 |
| EXPENSES | Loan Payment | -$1,730 |
| Property Tax | -$473 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
-$125
|
||
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.
$469,000
PROJECTED PRICE
$2,290
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$130,035
LOAN DETAILS
$1,730
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $117,250 |
| Loan Amount | $351,750 |
4.42
YEARS SAVED
$24,379
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,290
LIST RENT -
$1.12
LIST RENT PER SQFT
-
$2,293
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
-
39425 Copper Craft Drive Murrieta, CA 5
- 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,052 Sqft ∙ Built 1989
- Rent
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- $2,290
- $1.12
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39345 Medina Court Murrieta, CA 1
- 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1988
LEASED 10/26/19- Rent
- Rent Per SQFT
- $2,000
- $1.15
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23768 Castinette Way Murrieta, CA 2
- 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,050
- $1.10
-
36194 Toulon Drive Murrieta, CA 3
- 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,935 Sqft ∙ Built 1988
LEASED 07/27/20- Rent
- Rent Per SQFT
- $2,150
- $1.11
-
40005 Lafayette Drive Murrieta, CA 4
- 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 1998
LEASED 09/12/19- Rent
- Rent Per SQFT
- $2,285
- $1.11
PROPERTY LISTING DETAILS
Kw Vision
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR20240181
Last Updated: 11/17/2020
