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10344 Prospector Lane Moreno Valley, CA 92557

4 Beds 3 Baths 2,696 sqft Built 2018

$659,000

List Price

$2,760

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $244.44
  • 6 Days on Market
  • MLS # : CV21026525
  • Updated Date : 02/12/2021 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,696 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Primetime Realtors

Listing Agent's Description

Considering buying a new home? Don't want to wait six months to move in? This gorgeous estate style single level home is located in the foothills above the exclusive area of Sunnymead Ranch only 3 years old with 4 bedrooms, 2 1/2 Baths, a Salt water pool and 3 car garage plus glazed flooring through the whole house excluding the bedrooms and more than $80k in upgrades, one of KB Homes most desirable floor plans. The community features miles of serene walking trails with fantastic views of the hillsides, only minutes from University California Riverside and Riverside City College, close to outdoor recreation at Box Spring Mountain Reserve Park and Sycamore Canyon Wilderness Park. Near healthcare at Loma Linda University, Kaiser Permanente Moreno Valley. This home is equipped with 12 Solar panels that are included in the price not a lease. A gorgeous extra large white Kitchen that includes beautiful finishes with all stainless steel appliances, Formal Dining room pre-wired ready for chandelier/fixture, the garage is already pre-wired for a car charging station. The 3rd garage has 20 amps circuit for your power tools and much more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Moreno Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Moreno Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000Rent in $8802044

* 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
Sugar Hill Elementary School Primary Regular 556 20 4
Palm Middle School Middle Regular 1,261 46 3
Canyon Springs High School High Regular 2,488 96 5

Sugar Hill Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 20
4
GreatSchools Rating

Palm Middle School

  • Education Level: Middle
  • # of students: 1,261
  • # of teachers: 46
3
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,488
  • # of teachers: 96
5
GreatSchools Rating
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$2,289
Property Tax -$641
Property Insurance -$92
HOA -$145
Property Management Fees -$163
CASH FLOW
-$569

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.

$659,000

PROJECTED PRICE

$2,760

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,289

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,534

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,760
$2,760
RENT COMPS ANALYSIS
  • 10344 Prospector Lane Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,696 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $1.02
    •  
  • 24916 Metric Drive Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 9893 Paseo Cayuco Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 12122 Franklin Street Moreno Valley, CA 3
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
Juan Carlos Ventura
Century 21 Primetime Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21026525
Last Updated: 02/12/2021
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