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40728 La Salle Place Murrieta, CA 92563

3 Beds 3 Baths 1,920 sqft Built 2004

$489,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $254.69
  • 3 Days on Market
  • MLS # : SW21038234
  • Updated Date : 03/06/2021 at 05:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Of California, Inc.

Listing Agent's Description

LOCATION, LOCATION, LOCATION Beautiful Two-Story Home located minutes from the freeway in Murrieta CA. 3 bed 2.5 bath with stunning tile floors throughout the downstairs. When you enter the home, you are invited into a beautiful formal living room. The kitchen has beautiful granite countertops with a complimentary breakfast bar. The upstairs has 3 bedrooms to include a spacious master suite with a walk in closet and sunken tub. With an upstairs laundry room, laundry day will be so much easier! You will also find a built in desk in the upstairs hallway. In the backyard you'll enjoy the custom awning with a ceiling fan, outdoor playset and recently installed sod. This location is only minutes from the freeway and shopping centers. This community has everything with a centrally located community park, pool, and bbq pits. Come see this beautiful home before it's gone!

SEE MORE

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

Zip Code: 92563

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Zip Code: 92563

ZipNIR 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
Alta Murrieta Elementary School Primary Regular 769 28 8
Warm Springs Middle School Middle Regular 891 31 6
Vista Murrieta High School High Regular 3,456 132 8

Alta Murrieta Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 28
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
 

$440,100$537,900$489,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,698
Property Tax -$524
Property Insurance -$74
HOA -$125
Property Management Fees -$128
CASH FLOW
-$380

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.

$489,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.2%
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

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$135,335

INVESTMENT

$135,335

Down Payment
$122,250
Rehab Estimate
$5,750
Closing Costs
$7,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,698

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,250
Loan Amount $366,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,495

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,309

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,2003$2,4204$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 40728 La Salle Place Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.13
    •  
  • 40025 Calle Real Murrieta, CA 2
    • 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,905 Sqft ∙ Built 2017
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.15
    •  
  • 40680 La Salle Place Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,053 Sqft ∙ Built 2004
    LEASED 09/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.18
    •  
  • 25754 Palermo Court Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 1996
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.27
    •  
  • 40693 Cartier Street Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.21
    •  
PROPERTY LISTING DETAILS
Ankoma Hose
Exp Realty Of California, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21038234
Last Updated: 03/06/2021
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