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39869 Teal Drive Murrieta, CA 92562

3 Beds 2 Baths 1,750 sqft Built 1989

$409,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $233.71
  • 7 Days on Market
  • MLS # : NDP2001932
  • Updated Date : 10/29/2020 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California, Inc

Listing Agent's Description

This gorgeous Murrieta home is priced to SELL.... this home will not last! Tile and wood floors greet you as you enter the home and are accented by the cascading wrap staircase. Upgraded kitchen is a chef's dream! Light and bright this open floorplan has everything you need. There is a full bedroom and bathroom downstairs, and the garage has been converted into a living space. Backyard is a blank canvas for the new owner to create the landscape of their dreams! Large master and 2nd room upstairs with plenty of room for guests. Home is equipped with a water softener that will be paid off at escrow by the seller. The spa will be staying, but will be up to the the buyer's to have serviced. The home is being sold AS-IS. Termite work will be completed prior to COE. Comes with ALL appliances including the garage fridge.

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MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,509
Property Tax -$418
Property Insurance -$70
Property Management Fees -$123
CASH FLOW
-$30

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.

$409,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$28,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,209

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0903$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 39869 Teal Drive Murrieta, CA 2
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.19
    •  
  • 24114 Whistling Swan Road Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1996
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.22
    •  
  • 24435 Sagecrest Circle Murrieta, CA 3
    • 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,665 Sqft ∙ Built 1987
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.32
    •  
  • 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
Briana Palitz
Exp Realty Of California, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2001932
Last Updated: 10/29/2020
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