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39555 Corte Gata Murrieta, CA 92562

4 Beds 3 Baths 2,280 sqft Built 2003

$598,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $262.28
  • 16 Days on Market
  • MLS # : SW21046941
  • Updated Date : 03/19/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gold Shield Realty Group

Listing Agent's Description

Tropical One Story Pool Home With View!!Lush Tropical landscaping With Fruit trees and Vegetable Garden Open To Trails! Gorgeous Home Features Custom Basket Weaved Brick Flooring , Plantation Blinds, Crown Mold, Wood Features built-In ,Whole House Fan, !Italian Stunning Gourmet Kitchen with Corian Counters Tops And Built In Stove , Beautiful Custom Tile Backsplash And High Island , All Appliances In The Kitchen Included with Home!! Double Door Entrance To Your Formal Living Room And Elegant Dining Room! French Double Doors Off The Living Room For Possible Library Or Executive Office! Master Bedroom Suite is Perfect For Relaxing In Front Of Your Fireplace! With Master Bathroom Walk In Closet , Large Tub , Shower and Double Sink Solar System That Eliminates Your Electric Bill! Solar System For Lease $173.39 A Month For Now. Stunning Waterfall Rock Pool !Island Built -In-Barbecue Perfect For Entertaining ! Come And See This Beauty!!

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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: 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
 

$538,200$657,800$598,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$2,077
Property Tax -$612
Property Insurance -$82
Property Management Fees -$143
CASH FLOW
-$494

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.

$598,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.4%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,283

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,679

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4204$2,5005$2,950
$2,950
RENT COMPS ANALYSIS
  • 39555 Corte Gata Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.06
    •  
  • 36250 Chittam Wood Place Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 2004
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
  • 39848 Osprey Road Murrieta, CA 2
    • 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,988 Sqft ∙ Built 1988
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.21
    •  
  • 24599 Calle San Vincente Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1989
    property image
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 27548 Mangrove Street Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2005
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.26
    •  
PROPERTY LISTING DETAILS
Nancy Griffith
Gold Shield Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21046941
Last Updated: 03/19/2021
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