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39793 Saint Honore Drive Murrieta, CA 92563

4 Beds 3 Baths 1,911 sqft Built 1996

$475,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $248.56
  • 3 Days on Market
  • MLS # : SW20247454
  • Updated Date : 11/27/2020 at 16:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,911 sqft
  • Baths : 3 full
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

Welcome to your charming single story with 3 bedroom, 2.5 bathrooms, bonus room, casita, within a central location. As you approach the home, there is a separate entrance for the casita/bedroom that comes complete with it's own full bathroom and walk-in closet, perfect for in-laws or guests! Entering the main home, you are met with an open family room finished with neutral tile flooring, neutral paint, custom built-ins, fireplace, and high ceilings. Adjacent is the dining area and kitchen, equipped with a center island, breakfast bar seating, and plenty of cabinet space. The laundry room is conveniently located just off the kitchen. Across the way you have the bonus den/office that can easily be a 4th bedroom. The master bedroom is spacious, offering neutral carpet, ceiling fan, his & her closets, dual sinks in the master bath, vanity, large soaking tub and separate shower. Across the hall is the other bedroom and another full bathroom. Enjoy time in a very private backyard under the covered patio, finished with a grass lawn! This home has NO HOA and LOW TAX RATE!! The Solar System is paid off. This home is also within the Murrieta school district and close to parks, great restaurants and shopping!

SEE MORE

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

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Vintage Reserve

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
Buchanan Elementary School Primary Regular 998 37 8
Warm Springs Middle School Middle Regular 891 31 6
Vista Murrieta High School High Regular 3,456 132 8

Buchanan Elementary School

  • Education Level: Primary
  • # of students: 998
  • # of teachers: 37
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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,753
Property Tax -$555
Property Insurance -$73
Property Management Fees -$126
CASH FLOW
-$376

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.

$475,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$6,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1303$2,2004$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 39793 Saint Honore Drive Murrieta, CA 2
    • 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,911 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.11
    •  
  • 39371 Vanderbilt Avenue Murrieta, CA 1
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 2002
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
  • 39813 Saint Honore Drive Murrieta, CA 3
    • 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,740 Sqft ∙ Built 1997
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.26
    •  
  • 28911 Boothbay Road Temecula, CA 4
    • 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,991 Sqft ∙ Built 2003
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.18
    •  
  • 26344 Palisades Drive Murrieta, CA 5
    • 5 beds 2 baths ∙ 1,942 Sqft ∙ Built 2002 5 beds 2 baths ∙ 1,942 Sqft ∙ Built 2002
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.21
    •  
PROPERTY LISTING DETAILS
Keith Salkeld
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20247454
Last Updated: 11/27/2020
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