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10385 Via Apolina Moreno Valley, CA 92557

4 Beds 3 Baths 1,783 sqft Built 1988

$480,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $269.21
  • 54 Days on Market
  • MLS # : IV21109631
  • Updated Date : 07/12/2021 at 11:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,783 sqft
  • Baths : 2 full , 1 half
Listing Agent

Westar Realty

Listing Agent's Description

Location!! Location!! Property Is Located In The Award Winning Community Of Sunnymead Ranch, & Is Located In One Of The Most Desirable Areas Of Moreno Valley. From The Time You Enter Through The Double Doors, With Step Down Entry, You Will See So Many Possibilities. Features Include 4 Bedrooms, 2 Bath, 1783 Sq. Ft. Formal Living & Dining Room, Cathedral Ceiling. Spacious Family Room, With Cozy Brick Fireplace, & New Sliding Glass Door. Family Kitchen, With Oak Cabinets & Breakfast Bar. Spiral Staircase Leads To The Large Master Suite, Master Bath & Dressing Area, Dual Sink, Tub Shower Combination. There Are 3 Secondary Bedrooms, & Guest Bathroom. Landscaped Backyard with Brick Ribbons, Line the Perimeter. Great!! For Those Summer Night BBQ's, 2 Car Garage, With Roll Up Doors. Just Blocks From Sunnymead Ranch Lake & All It's Amenities, Club House, Boating, Fishing, Gym, Playground, Sports Court, No Assessments. Close To All Schools, Shopping & Major Transportation. All This & More Makes This Home A Must To See.

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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: 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
Vista Heights Middle School Middle Regular 1,414 51 5
Canyon Springs High School High Regular 2,488 96 5
Vista Heights Middle School Middle Unknown NA

Vista Heights Middle School

  • Education Level: Middle
  • # of students: 1,414
  • # of teachers: 51
5
GreatSchools Rating

Canyon Springs High School

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

Vista Heights Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$432,000$528,000$480,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,667
Property Tax -$481
Property Insurance -$70
HOA -$108
Property Management Fees -$119
CASH FLOW
-$425

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.

$480,000

PROJECTED PRICE

$2,020

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$2,0204$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 10385 Via Apolina Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 1,783 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,783 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.13
    •  
  • 23725 Parkland Ave Moreno Valley, CA 1
    • 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 22761 Country Gate Road Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.23
    •  
  • 24408 Ranch View Circle Moreno Valley, CA 4
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1987
    property image
    LEASED 04/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.20
    •  
  • 23654 Cedar Creek Terrace Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 1989
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.32
    •  
PROPERTY LISTING DETAILS
Sherri Cort
Westar Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21109631
Last Updated: 07/12/2021
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