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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $228.45
- 4 Days on Market
- MLS # : SW21002728
- Updated Date : 01/07/2021 at 15:44
CONSTRUCTION
- Beds : 5
- Floor Size : 2,626 sqft
- Baths : 3 full
Listing Agent
The Community Group Inc
Listing Agent's Description
***VERY RARE AFFORDABLE 5 BEDROOM 3 BATH POOL HOME WITH GATED RV PARKING ON A CUL-DE-SAC IN DESIRABLE WEST MURRIETA!***DOWNSTAIRS BEDROOM AND BATH!!***PAID OFF SOLAR!!***Be In One of The Safest Cities in the Nation with Award Winning Schools!***Very Low Taxes and No HOA!!***Gather in this Turnkey Entertainer's Backyard Complete with Sparkling Heated Pool/Spa with Waterfalls, Shallow-End Baja Shelf, Massive Stamped Concrete Sunbathing Deck, Custom Fire Pit, Gated RV Parking and Low Maintenance Landscape! Towering Two-Story Vaulted Ceilings Greet You As You Enter the Formal Living and Dining Rooms. Nicely Tucked at the Back is the Modern Kitchen that Opens to a Large Eating Area and Separate Spacious Family Room with Fireplace. The Beautifully Remodeled Kitchen Includes New Soft-Close Dark Wood Cabinet Doors and Drawers - Pantry - Granite Counters and a HUGE Serve-Thru Breakfast Bar that Seats 5! Nearby Find the Downstairs Bedroom, Full Bath and Indoor Laundry Room! Upstairs are 4 More Bedrooms and 2 Full Baths including the Master Suite with Cathedral Ceilings/Retreat - Master Bath with Dual Sinks - Large Soaking Tub - Stand Alone Shower - Big Walk-in Closet and Privacy Toilet Room! Other Notables Include: 3 Remodeled Bathrooms, Oversized Upstairs Bedroom w/Cathedral Ceilings, Under-Stair Storage Closet, Window Blinds, Ceiling Fans, Recessed Lighting, 3-Car Garage w/Auto Door/Shelving, NEW Lenox HVAC, Raised Garden Beds, 2nd Front Parking Pad and BONUS Front Grass Play Area!!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 92562
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,580 |
| EXPENSES | Loan Payment | -$2,084 |
| Property Tax | -$669 | |
| Property Insurance | -$91 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$416
|
||
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.
$599,900
PROJECTED PRICE
$2,580
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$164,724
LOAN DETAILS
$2,084
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $149,975 |
| Loan Amount | $449,925 |
2.08
YEARS SAVED
$8,225
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,580
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$2,626
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
41498 Saria Court Murrieta, CA 4
- 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $2,580
- $0.98
-
24077 Orleans Lane Murrieta, CA 1
- 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
-
41456 Grand View Drive Murrieta, CA 2
- 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2003
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,500
- $1.02
-
23443 Mountain Breeze Drive Murrieta, CA 3
- 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999
LEASED 09/25/20- Rent
- Rent Per SQFT
- $2,500
- $1.00
-
23897 Constantine Drive Murrieta, CA 5
- 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990
LEASED 12/29/20- Rent
- Rent Per SQFT
- $2,650
- $1.01
PROPERTY LISTING DETAILS
The Community Group Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21002728
Last Updated: 01/07/2021
