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41003 Belleray Avenue Murrieta, CA 92562

4 Beds 4 Baths 2,292 sqft Built 2015

$429,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $187.57
  • 4 Days on Market
  • MLS # : SW20262460
  • Updated Date : 12/24/2020 at 13:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,292 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Assoc.brkr-mur

Listing Agent's Description

Welcome Home to the Ridge at Cal Oaks!! This 3 story condo, built in 2015 is the largest model in the complex. With its south facing windows you’ll have awesome views of wetlands/preserve and creek! Fall in love with the private balcony overlooking the open spaces, beautiful sunsets & city lights. Entering the lower level you will find a large bedroom with bath en-suite & walk-in closet; also a nice storage/desk area & access to the 3-car tandem garage with storage, including two metal storage racks. On the 2nd level, the home comes with a spacious kitchen, lots of storage space, equipped with stainless steel appliances & a large island perfect for adding a few bar stools. This main floor also has a large open living & dining area with beautiful laminate wood flooring, laundry room & half bath. Moving up to the third floor is where the large master bedroom with a walk in closet is located. This room also faces south & gives you all the views & plenty of natural light. The master bathroom has dual sinks, oversized bathtub & separate shower. There are two additional bedrooms & another full bath. All bathrooms & laundry room have tile flooring; bedrooms have carpet. Located within an award winning school district, plenty of local shopping, & just a short drive to the beautiful Temecula wine country & access to the freeway. The Ridge at Cal Oaks is a well maintained community featuring a resort style pool and spa, walking trails & playground.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,586
Property Tax -$491
Property Insurance -$83
HOA -$195
Property Management Fees -$143
CASH FLOW
-$78

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.

$429,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.56%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$22,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,401

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,4004$2,4205$2,550
$2,550
RENT COMPS ANALYSIS
  • 41003 Belleray Avenue Murrieta, CA 4
    • 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,292 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.06
    •  
  • 40900 Lacroix Avenue Murrieta, CA 1
    • 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
    •  
  • 40972 Lacroix Avenue Murrieta, CA 2
    • 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
    •  
  • 24077 Orleans Lane Murrieta, CA 3
    • 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
    •  
  • 24117 Colmar Lane Murrieta, CA 5
    • 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,290 Sqft ∙ Built 1998
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.11
    •  
PROPERTY LISTING DETAILS
Theresa Diciolla
Coldwell Banker Assoc.brkr-mur
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20262460
Last Updated: 12/24/2020
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