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40989 Lacroix Avenue Murrieta, CA 92562

3 Beds 3 Baths 2,066 sqft Built 2015

$412,999

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $199.90
  • 2 Days on Market
  • MLS # : SW20231314
  • Updated Date : 11/02/2020 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,066 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Preferred

Listing Agent's Description

Murrieta 3 Level Townhome Featuring 3 Bedrooms, Den/Optional 4th Bedroom and 3 Bathrooms. Vinyl Plank Flooring, Tile and Grey Berber Carpet throughout. Gorgeous Chef Style Island Kitchen with Custom Cabinets, Granite Counters & Back Splash and Stainless Steel Appliances. Master Bedroom Bathroom Retreat with Soaking Tub, Separate Shower, Jack N Jill Sinks and Walk in Closet. Laundry Room with Plenty of Cabinets. Plantation Shutters , Ceiling Fans, Tankless Water Heater and more. 3 Car Tandem Garage for plenty of Parking. Step out to your Private Balcony or enjoy the Amenities, Pool, BBQ's and Play Ground. Award Winning Murrieta School District. All this just waiting for it's New Owners to come Home.

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

Zip Code: 92562

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Zip Code: 92562

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
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
 

$371,699$454,299$412,999

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 -$1,524
Property Tax -$472
Property Insurance -$77
HOA -$245
Property Management Fees -$128
CASH FLOW
-$276

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.

$412,999

PROJECTED PRICE

$2,170

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,195

INVESTMENT

$115,195

Down Payment
$103,250
Rehab Estimate
$5,750
Closing Costs
$6,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,524

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,250
Loan Amount $309,749
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,798

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
  • $1.05

    LIST RENT PER SQFT
  • $2,242

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,2003$2,2004$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 40989 Lacroix Avenue Murrieta, CA 1
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.05
    •  
  • 40900 Lacroix Avenue Murrieta, CA 2
    • 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,066 Sqft ∙ Built 2015
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.06
    •  
  • 24051 Morning Dove Lane Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,018 Sqft ∙ Built 1996
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
  • 41180 Marseille Court Murrieta, CA 4
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 1998
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.14
    •  
  • 40972 Lacroix Avenue Murrieta, CA 5
    • 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 2015
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
PROPERTY LISTING DETAILS
Terri Holladay
Century 21 Preferred
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20231314
Last Updated: 11/02/2020
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