29206 Via Princesa
About This Property
The portfolio consists of 8 individual manufactured home rentals within The Knolls 55+ senior community. The Knolls consists of 1,120 manufactured homes located within three similar individual HOAs. Each home is on its own individual lot and each HOA offers a recreation center and resort style pool. The HOAs limit the percentage of rental homes within each HOA to no more than 25% of the homes (280 homes), and the HOAs strictly enforce this rule. The 8 homes in the Murrieta Seniors Portfolio are part of the allowable 25%, and the limits on further rentals is an insurance policy against added competition. ALL ARE LARGE TWO BEDROOM FLOOR PLANS. The homes within the Murrieta Seniors Portfolio are all large two-bedroom floor plans and average 1,347 square feet. These large homes are ideal for either roommate situations or seniors who are downsizing from a single-family home and require a larger rental in order to accommodate their furnishings. Each of the 8 homes is single level in design and slightly different, with many offering large patios private backyards, covered parking, garages, or spectacular views. There is also considerable upside room on future rents.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 13, 2023 | No longer available | - | |
| No longer available | |||
| Apr 20, 2023 | In contract | - | |
| In contract | |||
| Feb 24, 2023 | Price Decreased |
$349,990
↓ $45K
(11.4%) | |
| Price Decreased | |||
| Jan 7, 2023 | Price Decreased |
$395,000
↓ $25K
(6%) | |
| Price Decreased | |||
| Oct 28, 2022 | Price Decreased |
$419,999
↓ $29K
(6.5%) | |
| Price Decreased | |||
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About Murrieta
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Currently no similar homes aroundNearby Rentals
$3,795 /mo
- 5 Beds
- 2 Baths
- 2,962 ft²
$3,395 /mo
- 3 Beds
- 2 Baths
- 1,870 ft²
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017