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PROPERTY INFO
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!
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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
Zip Code: 92563
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92563
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$135,335
LOAN DETAILS
$1,698
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $122,250 |
| Loan Amount | $366,750 |
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
-
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
Exp Realty Of California, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21038234
Last Updated: 03/06/2021
