31612 Angel Aura Dr

French Valley, CA 92596

$544,390D-

3 bd · 2.5 ba · 1,776 sqft · Built 2026 · Condo · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,377/mo
• Mortgage (P&I): −$2,855
• Tax + insurance: −$907
• HOA: −$374
• Vac / Maint / Mgmt: −$709
• Net cashflow: $-1,468/mo
• Annual: $-17,617/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.56%
• DSCR: 0.49
• 1% rule: 0.62%
• Cash to close: $152,429

Investor read

• This is a 3-bed/2.5-bath condo listed at $544k.
• At list price, monthly cash flow is $-1k ($-18k/yr) — negative.
• To cash-flow at today's rent, offer at most $386k (29.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $338k (38.0% below list).
• It's been on market 20 days — a 2% lower offer ($536k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $338k (38.0% below list) — sets the bar for 1% rule.
• In year one you build about $58k of equity ($4k loan paydown + $54k appreciation (10.0% local appreciation)).
• Location reads 59/100 on livability (#655 in CA) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: crime D-, amenities F, commute F.
• Murrieta Valley Unified (suburban): math 51% / reading 64% proficiency, ranked #255 of 1,400 in CA (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lisa J. Mails Elementary (1,019 students, 37% FRL); Dorothy Mcelhinney Middle (1,396 students, 44% FRL); Vista Murrieta High (3,493 students, 46% FRL) — zoned schools average 42% FRL vs 23% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 353 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 9,195 units permitted in Riverside County in 2024 (1,512 in 5+ unit buildings).
• Riverside County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• This rent runs 31% of the median local income ($133k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.