Updated Residential Income
New
For Sale
$489,900
38974 Paseo De Oro, Murrieta, CA 92563
Murrieta, CA
Property Size1,922 SF
Lot Size0.02 Acres
Price / SF$254.89
Days on Market2
Property Features for 38974 Paseo De Oro
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
2
Bathrooms
3
Full bathrooms
1
Half bathrooms
1
Rooms
Laundry Room, Bedroom 2, Bathroom 1, Bathroom 2, Kitchen, Bathroom 3, Bedroom 1
Parking
1
Parking features
Open, Garage
Spa
1
Window features
Screens, Blinds
Interior features
Quartz Counters, Ceiling Fan(s), Recessed Lighting
Appliances
Disposal, Microwave, Refrigerator, Water Heater Central, Water Line to Refrigerator, Electric Oven, Dishwasher, Electric Cooktop
Lot features
Sprinklers In Front, On Golf Course, Level, Sprinkler System
View
Golf Course
Elementary school
Monte Vista
High school
Vista Murrieta
Elementary school district
Murrieta
Middle school district
Murrieta
High school district
Murrieta
Directions
Exit 215 Murrieta Hot Springs - East on Hot Springs - Left on Paseo De Oro - Right on Paseo De Oro - Home is on the Right
Subdivision
SRCAR - Southwest Riverside County
Standard status
Active
APN
913180066
Size
1,922 SF
Lot size
0.02 Acres
Taxes and HOA fees
HOA Fee
$375 Monthly
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
2
Number of units
1
Flooring type
Vinyl
Building materials
Concrete, Stucco, Drywall Walls
Roof type
Tile
Architectural style
Mediterranean
Listing Agency:
First Team Real Estate
(951) 699-9080
Listed By:
Eric Tomlinson · License #01428634
(951) 970-6727
Added: Sep 9
Last Checked: Sep 10 at 5:06AM
MLS# SW26197464
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story residential property offers 1,922 square feet with a remodeled interior and a layout that includes two bedrooms, three bathrooms, a loft, and an indoor laundry area. The main level connects the living and dining areas with sliding-door access to outdoor patios, while the upper-level loft overlooks the living space. Interior finishes include vinyl flooring, recessed lighting, ceiling fans, quartz counters, updated cabinetry, stainless steel appliances, and a neutral color scheme. The primary suite includes vaulted ceilings, a walk-in closet, updated bathroom, and private balcony. A second bedroom has mirrored closet doors and a remodeled bathroom with a tub and shower combination.
The property includes a detached garage, covered rear patio, enclosed entry courtyard, central heating and air conditioning, public water, and public sewer. Mature landscaping, greenbelt views, and open space near a golf course fairway contribute to the surrounding setting. Built in 1973, the residence features concrete and stucco construction with a tile roof.
The property includes a detached garage, covered rear patio, enclosed entry courtyard, central heating and air conditioning, public water, and public sewer. Mature landscaping, greenbelt views, and open space near a golf course fairway contribute to the surrounding setting. Built in 1973, the residence features concrete and stucco construction with a tile roof.
Key Highlights
- 1,922‑square‑foot two‑story residence with 2 bedrooms, 3 bathrooms, and an open loft
- Remodeled kitchen with quartz counters, gray cabinetry, tile backsplash, and stainless steel appliances
- Primary suite includes vaulted ceilings, walk‑in closet, updated bathroom, and private balcony
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,982
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$579,640
$579.6K
Cap Rate 7%
$414,029
$414.0K
Cap Rate 9%
$322,022
$322.0K
Market Conditions
NOI Build-Up for 1,922 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$55.6K $28.92/SF
− Vacancy
−$2.9K −$1.50/SF
EGI
$52.7K $27.42/SF
− OpEx
−$23.7K −$12.34/SF
NOI
$29.0K $15.08/SF
Area
Murrieta, CA
Vacancy
5.20%
Lease Rate
$28.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$579,640
Cap Rate 7%
$414,029
Cap Rate 9%
$322,022
Alternative Uses
Best Use
Apartment 5plus
$414.0K
$362.3K – $483.0K
NOI $28,982 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$607.2K
$531.3K – $708.4K
NOI $42,501 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 92563, CA
73,224
Population
24,020
Households
3
Avg Household Size
35
Median Age
33%
College-Educated
93%
High-School Grad
22.6 sq mi
ZIP Area
3,240
Density / Sq Mi
$118,519
Median Household Income
$51,772
Median Earnings
$2,588
Median Rent
$615,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Remodeled two-story residence with an open layout, loft, private outdoor areas, and detached garage.
Where is this residential income property located?
The property is located at 38974 Paseo De Oro Murrieta, CA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 1,922‑square‑foot two‑story residence with 2 bedrooms, 3 bathrooms, and an open loft; Remodeled kitchen with quartz counters, gray cabinetry, tile backsplash, and stainless steel appliances; Primary suite includes vaulted ceilings, walk‑in closet, updated bathroom, and private balcony
