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39501 Via Montero Murrieta, CA 92563

4 Beds 2 Baths 1,895 sqft Built 1988

$499,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $263.32
  • 5 Days on Market
  • MLS # : SW21021646
  • Updated Date : 02/05/2021 at 11:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,895 sqft
  • Baths : 2 full
Listing Agent

Ten X Realty

Listing Agent's Description

Well-maintained, single level, 4 bedroom 2 bath home in this highly sought after neighborhood in the sweet spot of Murrieta! Walking distance to Alta Murrieta Blue Ribbon Elementary School, close to shopping and restaurants. NO HOA and Low Taxes make this an even better find. Newer wide plank solid hardwood floors and interior paint, this home was originally the model home in the tract. Nicely upgraded kitchen with beautiful granite countertops, gas range. Plantation shutters on every window and ceiling fans throughout the home make it energy efficient. The Master bedroom has a roomy walk-in closet and large master bathroom. Very Private backyard with gorgeous sunset views. Newer A/C unit and 40-year cement tile roof under warranty. Photovoltaic Solar panels, (not visible from the street) are still under manufacturer's warranty-- PAID off for new buyers to enjoy an average electric bill of around $2.19 monthly! Owner just had the 2015 Solar system tuned up by a certified solar specialist in January 2021. Recently painted inside and out. Property soon to be in full bloom with fig, apricot, plum, and peach trees, plus gardenia, plumeria, and rose bushes out front. Includes recently purchased Stainless Steel refrigerator, mini-frig, washer, dryer and RING security unit.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Alta Murrieta

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Alta Murrieta

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
Alta Murrieta Elementary School Primary Regular 769 28 8
Warm Springs Middle School Middle Regular 891 31 6
Vista Murrieta High School High Regular 3,456 132 8

Alta Murrieta Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 28
8
GreatSchools Rating

Warm Springs Middle School

  • Education Level: Middle
  • # of students: 891
  • # of teachers: 31
6
GreatSchools Rating

Vista Murrieta High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 132
8
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,733
Property Tax -$510
Property Insurance -$73
Property Management Fees -$129
CASH FLOW
-$256

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.

$499,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.4%
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$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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,903

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,317

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2003$2,2754$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 39501 Via Montero Murrieta, CA 1
    • 4 beds 2 baths ∙ 1,895 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,895 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.16
    •  
  • 25406 Blackthorne Drive Murrieta, CA 2
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1988
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.18
    •  
  • 39782 Avenida Miguel Oeste Murrieta, CA 3
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 1998
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.14
    •  
  • 39730 Notting Hill Road Murrieta, CA 4
    • 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,840 Sqft ∙ Built 1988
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.30
    •  
  • 25754 Palermo Court Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 1996
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.27
    •  
PROPERTY LISTING DETAILS
Barbara Bennett
Ten X Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21021646
Last Updated: 02/05/2021
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