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40171 Torrey Pines Road Murrieta, CA 92563

4 Beds 3 Baths 2,236 sqft Built 2000

$499,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $223.17
  • 10 Days on Market
  • MLS # : SW20229650
  • Updated Date : 11/07/2020 at 15:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,236 sqft
  • Baths : 3 full
Listing Agent

Big Block Realty

Listing Agent's Description

Fantastic opportunity to own a Single story home with Casita in the coveted neighborhood of Vintage Reserve. Located within walking distance of Vintage Park and Murrieta Valley Unified Award winning Buchanan Elementary School. This home features three bedroom, two bath plus office with custom built-in shelving in the main residence. Plus a bonus one bedroom, one bath detached casita. (Approximately $1000+ in rental income should you choose to rent it out or perfect for multi-generational living). Main features include custom brick flooring, plantation shutters and ceiling fans throughout. Kitchen is an entertainers dream. It is light and bright and includes stainless steel appliances. Large master suite with enormous master closet that includes custom built in shelving system. Glass sliding doors lead from the master bedroom to the peaceful backyard with patio and plenty of room for all year round gatherings. Vintage Reserve is a picturesque community tucked into the foothills of Riverside county with NO HOA!!!!! From this home you are only minutes away from shopping, restaurants, mall and freeway access. This Single Story with Casita wont last long!!! Please follow all guidelines pertaining to Covid-19 regulations.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,841
Property Tax -$594
Property Insurance -$81
Property Management Fees -$137
CASH FLOW
-$333

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

$2,320

PROJECTED RENT

0.46%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,516

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,320
1$2,3202$2,4003$2,4504$2,4805$2,500
$2,500
RENT COMPS ANALYSIS
  • 40171 Torrey Pines Road Murrieta, CA 1
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.04
    •  
  • 27432 Lovettsville Lane Temecula, CA 2
    • 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,185 Sqft ∙ Built 2012
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 40325 Cape Charles Drive Temecula, CA 3
    • 5 beds 3 baths ∙ 2,175 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,175 Sqft ∙ Built 2013
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.13
    •  
  • 40059 Annapolis Drive Temecula, CA 4
    • 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,203 Sqft ∙ Built 2007
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.13
    •  
  • 28821 Bristol Road Temecula, CA 5
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2004
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
Miranda Ryan
Big Block Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20229650
Last Updated: 11/07/2020
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