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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $188.30
- 6 Days on Market
- MLS # : SW20248166
- Updated Date : 12/01/2020 at 15:07
CONSTRUCTION
- Beds : 6
- Floor Size : 2,650 sqft
- Baths : 4 full
Listing Agent
Keller Williams, The Lakes
Listing Agent's Description
Large Spacious 2 Story Cul -de- Sac home located in a desirable location of Murrieta. This home features 6 bedrooms and 4 full bathrooms, cathedral ceilings, wood and tile flooring, 3 car garage, nice size kitchen that opens to the family room. Downstairs laundry room with a sink and a entry/ exit door to the side yard. Full bathroom downstairs. Beautiful staircase leads to all the bedrooms. The Spacious master is the to right at the top of the stairs, with a door that leads to a balcony to sit and stargaze as you sip on your favorite drink. Large spacious master bath with jet tub and an enormous walk in closet. Down the hall are 5 more bedrooms with 2 more bathrooms. Back yard is large enough for a small to medium sized pool with space left to entertain. Located in the heart of Murrieta, close to shopping, schools and both the 15 and 215 freeways. Solar will be paid off through the close of escrow. No HOA and low taxes make this home even more desirable.
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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: Vintage Reserve
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Vintage Reserve
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,370 |
| EXPENSES | Loan Payment | -$1,841 |
| Property Tax | -$532 | |
| Property Insurance | -$87 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$230
|
||
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
$2,370
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 4.9% |
| 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
$137,985
LOAN DETAILS
$1,841
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $124,750 |
| Loan Amount | $374,250 |
3.42
YEARS SAVED
$17,446
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$2,334
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
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- Rent
- Rent Per SQFT
- $2,370
- $0.96
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39573 Bonaire Way Murrieta, CA 2
- 5 beds 4 baths ∙ 2,706 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,706 Sqft ∙ Built 1999
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LEASED 09/05/20- Rent
- Rent Per SQFT
- $2,450
- $0.91
-
26389 Collier Union Drive Murrieta, CA 3
- 5 beds 4 baths ∙ 2,671 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,671 Sqft ∙ Built 2002
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LEASED 10/29/19- Rent
- Rent Per SQFT
- $2,495
- $0.93
-
29226 Township Road Temecula, CA 4
- 5 beds 3 baths ∙ 2,578 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,578 Sqft ∙ Built 2003
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LEASED 05/13/20- Rent
- Rent Per SQFT
- $2,500
- $0.97
-
26328 Palisades Drive Murrieta, CA 5
- 5 beds 4 baths ∙ 2,671 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,671 Sqft ∙ Built 2002
![property image]()
LEASED 05/14/20- Rent
- Rent Per SQFT
- $2,600
- $0.97
PROPERTY LISTING DETAILS
Keller Williams, The Lakes
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20248166
Last Updated: 12/01/2020
