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40653 Via Diamante Murrieta, CA 92562

4 Beds 3 Baths 2,591 sqft Built 1988

$539,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $208.38
  • 5 Days on Market
  • MLS # : SW20225897
  • Updated Date : 10/30/2020 at 11:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,591 sqft
  • Baths : 3 full
Listing Agent

The Community Group Inc

Listing Agent's Description

***STUNNING 4 BEDROOM 3 BATH WITH 2 FIREPLACES AND A DOWNSTAIRS BEDROOM/BATH NESTLED IN THE TRANQUIL HILLS OF MURRIETA!***SUPER LOW TAXES AND NO HOA!***LIVE IN THE 3RD SAFEST CITY IN THE NATION WITH AWARD WINNING SCHOOLS!***PRIME LOCATION NEAR TWO PARKS, SCHOOLS, SPORTS COMPLEX & FREEWAYS!! Formal Living & Dining Rooms with Sweeping 2-Story Vaulted Ceilings, Fireplace/Shelving & French Doors to the Back Yard! Gourmet Kitchen with Eating Area and Separate Spacious Family Room with 2nd Fireplace & Slider to the Covered Patio! Use the Downstairs Bedroom/Nearby Bath as a Mother-In-Law Quarters, Office or Play Room! Updated Kitchen Includes: Endless Cabinetry, Butler's Pantry w/Hutch, Island, Granite Counters, 3-Basin Sink, Filtered Water AND High-End Stainless Appliances - Viking 6-Burner Gas Stove Top - Built-In Convection Oven/Microwave, Bosch Dishwasher & Trash Compactor! Upstairs Enjoys Balcony Views, a Large Master Suite w/Cathedral Ceilings and Retreat, a Master Bath that Boasts a Roman Soaking Tub, Dual Sinks, Stand-Alone Glass Shower, Privacy Toilet Room and a HUGE Walk-In Closet! Upstairs Completes with 2 More Bedrooms and a Full Bath! Lounge Out Back in the Peaceful Tree-Lined Yard Under the Wood Covered Patio or in the Private Spa. Other Notables Include: Indoor Laundry, 2 Linen Cabs, Tuscan-Deco Paint, Travertine Floors, Dual-Pane Windows, Recessed Lighting, Whole-House Fan, 3-Car Garage w/Roll-Up Doors, Newer HVAC/Water Heater, Chicken Coup, Auto Sprinklers & MORE!

SEE MORE

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: The Colony

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k578k

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

Neighborhood: The Colony

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10732387

* 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
E. Hale Curran School Primary Regular 513 20 7
Shivela Middle School Middle Regular 1,443 52 8
Murrieta Mesa High School High Regular 2,198 85 8

E. Hale Curran School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 20
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
 

$485,910$593,890$539,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,992
Property Tax -$617
Property Insurance -$90
Property Management Fees -$137
CASH FLOW
-$506

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.

$539,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,824

INVESTMENT

$148,824

Down Payment
$134,975
Rehab Estimate
$5,750
Closing Costs
$8,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,975
Loan Amount $404,925
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,358

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3303$2,3504$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 40653 Via Diamante Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.90
    •  
  • 24027 Morning Dove Lane Murrieta, CA 1
    • 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,517 Sqft ∙ Built 1996
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.91
    •  
  • 24095 Fuschia Court Murrieta, CA 3
    • 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,610 Sqft ∙ Built 1989
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 40760 Robards Way Murrieta, CA 4
    • 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 24077 Orleans Lane Murrieta, CA 5
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1998
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
PROPERTY LISTING DETAILS
David Robinson
The Community Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20225897
Last Updated: 10/30/2020
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