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41801 Pioneer Street Murrieta, CA 92562

4 Beds 3 Baths 2,536 sqft Built 2002

$639,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $251.97
  • 3 Days on Market
  • MLS # : SW21056855
  • Updated Date : 03/19/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Assoc.brkr-mur

Listing Agent's Description

Are you looking for a **SINGLE STORY** home and **RV PARKING??** This Murrieta home offers a **3 CAR** garage, 2 car & 1 car split style. Home has nice curb appeal and open floorplan! This home is located in a special alcove of Murrieta West where listings don't come up very often and there is **NO HOA!** Kitchen features island plus lots of cabinets and built-in desk, in addition to walk-in pantry. Kitchen opens up to the family room where you can enjoy the fireplace. This **4 BEDROOM, 3 BATH** home has a spacious master bedroom with huge walk-in closet; roomy master bath features dual sinks with separate shower and tub. Large laundry room with sink and cabinets. Lot size is just over **10,000 SQ. FT!!** This home is located in the heart of desirable West Murrieta, close to Old Town Murrieta, shopping, top-rated schools and easy freeway access. Come see it before it's too late!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Murrieta Elementary School Primary Regular 830 29 7
Thompson Middle School Middle Regular 1,665 56 6
Murrieta Valley High School High Regular 2,440 93 8

Murrieta Elementary School

  • Education Level: Primary
  • # of students: 830
  • # of teachers: 29
7
GreatSchools Rating

Thompson Middle School

  • Education Level: Middle
  • # of students: 1,665
  • # of teachers: 56
6
GreatSchools Rating

Murrieta Valley High School

  • Education Level: High
  • # of students: 2,440
  • # of teachers: 93
8
GreatSchools Rating
 

$575,100$702,900$639,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$2,219
Property Tax -$779
Property Insurance -$89
Property Management Fees -$148
CASH FLOW
-$725

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.

$639,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.39%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,085

INVESTMENT

$175,085

Down Payment
$159,750
Rehab Estimate
$5,750
Closing Costs
$9,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,219

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $159,750
Loan Amount $479,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,599

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5103$2,6004$2,6505$2,650
$2,650
RENT COMPS ANALYSIS
  • 41801 Pioneer Street Murrieta, CA 2
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.99
    •  
  • 23443 Mountain Breeze Drive Murrieta, CA 1
    • 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999 5 beds 2 baths ∙ 2,500 Sqft ∙ Built 1999
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 23406 Mount Ashland Court Murrieta, CA 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 23897 Constantine Drive Murrieta, CA 4
    • 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,626 Sqft ∙ Built 1990
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 23403 Mountain Song Loop Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,400 Sqft ∙ Built 2000
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Shirley Woods
Coldwell Banker Assoc.brkr-mur
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21056855
Last Updated: 03/19/2021
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