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39502 Mandolin Circle Murrieta, CA 92562

4 Beds 3 Baths 1,927 sqft Built 1989

$555,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $288.01
  • 5 Days on Market
  • MLS # : SW21011881
  • Updated Date : 01/22/2021 at 07:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,927 sqft
  • Baths : 3 full
Listing Agent

New Palace Realty

Listing Agent's Description

Have you been looking for RV Parking, Pool, Spa, located on a Cul de Sac s in a Great Nieghborhood? Look no further!! 39502 Mandolin Cir. is a beautifull 2 story home tha lies centrally between the 15 & 215 freeways. Lower level includes Wood flooring throughout. Main floor bedroom, Fully upgraded bathroom. Living room/ Dinning room comb with cutom wood accents from floor to cieiling throughout the home. Open Kitchen concept includes granite counters, spacious walkin pantry and breakfast nook which flows in to Family room with plenty of natural lighting. Enjoy a warm fire on those chilly night in the Family room with large sliding door leading to the backyard. Upstairs includes Master bedroom with plenty of closet space. Master bath includes walking shower and sperate soaking tub. Secondary bedrooms are of ample size. 3rd Bathroom has a tub/shower combo. Backyard features, Patio, Gated Pool & Spa. Spacious open space to create your Dream backyard. Pleanty of rooms for your toys with a 3 car garage and driveway that can fit up to 4 cars. Centrally located near shops and restuarants. Outstanding Murrieta School District. More photos to come

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: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $149k676k

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

Neighborhood: Greer Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822805

* 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
Antelope Hills Elementary School Primary Regular 812 32 9
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

Antelope Hills Elementary School

  • Education Level: Primary
  • # of students: 812
  • # of teachers: 32
9
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
 

$499,500$610,500$555,000

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 -$1,928
Property Tax -$559
Property Insurance -$74
Property Management Fees -$131
CASH FLOW
-$472

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.

$555,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$152,825

INVESTMENT

$152,825

Down Payment
$138,750
Rehab Estimate
$5,750
Closing Costs
$8,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,928

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $138,750
Loan Amount $416,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,475

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
  • $1.15

    LIST RENT PER SQFT
  • $2,192

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,2003$2,2204$2,2855$2,395
$2,395
RENT COMPS ANALYSIS
  • 39502 Mandolin Circle Murrieta, CA 3
    • 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,927 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.15
    •  
  • 23768 Castinette Way Murrieta, CA 1
    • 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
    •  
  • 24051 Morning Dove Lane Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
  • 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
    •  
  • 23815 Via De Gema Linda Murrieta, CA 5
    • 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 1988
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.25
    •  
PROPERTY LISTING DETAILS
Cindy Saucillo
New Palace Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21011881
Last Updated: 01/22/2021
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