Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2012
- Price/Sqft : $260.69
- 5 Days on Market
- MLS # : TR21017661
- Updated Date : 01/27/2021 at 15:07
CONSTRUCTION
- Beds : 5
- Floor Size : 2,877 sqft
- Baths : 4 full
Listing Agent
Homequest Real Estate
Listing Agent's Description
Open and bright house at the prestigous Morgan Hill Community.This home offer 5bedroom and 4 bathroom,and can be 6bedroom.This home also has solar that lease contract must be transfered to new buyer aprox 150usd per month.Laminate on the 2nd floor and stone on the first floor. Artificial grass landscape for easy maintenence in the front yard and side yard for miniature golf.This home also has balcony and balcony cover. Barn door in the master bedroom. This property has lots of upgrade Must see property.
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
Neighborhood: Morgan Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Morgan Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,930 |
| EXPENSES | Loan Payment | -$2,605 |
| Property Tax | -$887 | |
| Property Insurance | -$97 | |
| HOA | -$99 | |
| Property Management Fees | -$173 | |
|
CASH FLOW
-$930
|
||
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.
$750,000
PROJECTED PRICE
$2,930
PROJECTED RENT
0.39%
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
$204,500
LOAN DETAILS
$2,605
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $187,500 |
| Loan Amount | $562,500 |
0.25
YEARS SAVED
$319
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,930
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$3,193
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
44273 Marcelina Court Temecula, CA 2
- 5 beds 4 baths ∙ 2,877 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,877 Sqft ∙ Built 2012
![property image]()
- Rent
- Rent Per SQFT
- $2,930
- $1.02
-
44704 Mumm Street Temecula, CA 1
- 5 beds 4 baths ∙ 2,726 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,726 Sqft ∙ Built 2005
![property image]()
LEASED 09/07/20- Rent
- Rent Per SQFT
- $2,900
- $1.06
-
34202 Hourglass Street Temecula, CA 3
- 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,036 Sqft ∙ Built 2015
![property image]()
LEASED 03/18/20- Rent
- Rent Per SQFT
- $3,400
- $1.12
-
44269 Phelps Street Temecula, CA 4
- 4 beds 4 baths ∙ 3,002 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,002 Sqft ∙ Built 2013
![property image]()
LEASED 06/20/20- Rent
- Rent Per SQFT
- $3,400
- $1.13
-
34282 Hourglass Street Temecula, CA 5
- 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,003 Sqft ∙ Built 2015
![property image]()
LEASED 08/14/20- Rent
- Rent Per SQFT
- $3,400
- $1.13
PROPERTY LISTING DETAILS
Homequest Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21017661
Last Updated: 01/27/2021
