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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $279.72
- 6 Days on Market
- MLS # : SW21031909
- Updated Date : 02/20/2021 at 05:12
CONSTRUCTION
- Beds : 3
- Floor Size : 1,716 sqft
- Baths : 2 full , 1 half
Listing Agent
Tiburzio Realty And Prop. Mgmt
Listing Agent's Description
Nice 3 bedroom, 2.5 bathroom, 1,716 square foot two level home located in the golden triangle area of Murrieta. The home offers a living room, dining area, family room and half bathroom on the lower level. All three bedrooms and the 2 full bathrooms are located on the upper level. The home offers a master suite. The lot is 11,326 square feet and the backyard has enough space to create your dreams. There is no HOA fee and the property taxes are very low in this tract. Home is situated on a cul-de-sac. Professional photos and more details to come.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Murrieta Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Murrieta Oaks
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,060 |
| EXPENSES | Loan Payment | -$1,667 |
| Property Tax | -$484 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$122 | |
|
CASH FLOW
-$281
|
||
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.
$479,999
PROJECTED PRICE
$2,060
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,950
LOAN DETAILS
$1,667
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $120,000 |
| Loan Amount | $359,999 |
2.5
YEARS SAVED
$9,321
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,060
LIST RENT -
$1.2
LIST RENT PER SQFT
-
$2,136
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
39828 Barcelona Murrieta, CA 1
- 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,716 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $2,060
- $1.20
-
39862 Tanager Trail Murrieta, CA 2
- 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1994
LEASED 04/06/20- Rent
- Rent Per SQFT
- $2,100
- $1.28
-
39787 Castile Avenue Murrieta, CA 3
- 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,850 Sqft ∙ Built 1988
LEASED 10/29/20- Rent
- Rent Per SQFT
- $2,200
- $1.19
-
40034 Palma Vista Street Murrieta, CA 4
- 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 1988
LEASED 08/08/20- Rent
- Rent Per SQFT
- $2,250
- $1.24
-
39841 Western Jay Way Murrieta, CA 5
- 4 beds 3 baths ∙ 1,891 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,891 Sqft ∙ Built 1993
LEASED 05/29/20- Rent
- Rent Per SQFT
- $2,400
- $1.27
PROPERTY LISTING DETAILS
Tiburzio Realty And Prop. Mgmt
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21031909
Last Updated: 02/20/2021
