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42019 Thoroughbred Lane Murrieta, CA 92562

3 Beds 2 Baths 1,818 sqft Built 1989

$499,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $274.97
  • 2 Days on Market
  • MLS # : NDP2103245
  • Updated Date : 03/27/2021 at 22:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

Century 21 Award

Listing Agent's Description

This absolutely pristine turn-key single story home is located on a quiet peaceful street within easy walking distance to downtown and historic Murrieta. Light, bright and open with vaulted ceilings and beautifully remodeled with hardwood and ceramic tile flooring, granite countertops, copper sinks, new vanities and fixtures, ceiling fans, plantation shutters and new windows. Everything has been redone with style and taste down to the designer glass doorknobs. Easy maintenance front and back yards, a spacious 3 car garage and RV Parking in a well-maintained neighborhood with LOW taxes and GREAT schools, but no HOA fees, no Mello Roos, and no Special Assessments. Don't miss this amazing opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
 

$449,910$549,890$499,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,736
Property Tax -$514
Property Insurance -$71
Property Management Fees -$120
CASH FLOW
-$402

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.

$499,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.41%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,736

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,063

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0403$2,2504$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 42019 Thoroughbred Lane Murrieta, CA 2
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $1.12
    •  
  • 41945 S Davenport Way Murrieta, CA 1
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2004
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.18
    •  
  • 41180 Marseille Court Murrieta, CA 3
    • 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
    •  
  • 24556 Calle San Vincente Murrieta, CA 4
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 1990
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 40975 Morning Glory Drive Murrieta, CA 5
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 1989
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.12
    •  
PROPERTY LISTING DETAILS
Ana Rosvall
Century 21 Award
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: NDP2103245
Last Updated: 03/27/2021
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