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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $260.68
- 3 Days on Market
- MLS # : IG20251301
- Updated Date : 12/04/2020 at 18:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,592 sqft
- Baths : 2 full
Listing Agent
Pedersen Real Estate
Listing Agent's Description
Start 2021 out right with this POOL HOME on a large Cul-de-Sac lot north of the 60 Freeway! This nice private back yard still has room for your creative touches and is situated right off the kitchen and dining area. Home features 3 bedrooms and 2 full baths, cozy living room with fireplace plus a den/family room to relax watching a favorite movie; both conveniently located right off the dining area. The good sized master bedroom has an exit to the jacuzzi and pool for those late night dips as well as a huge additional walk in closet near the master bath complete with double vanity and tub/shower combo. There is plenty of off street parking on the 2 driveways with space for all your cars or trucks, boat or RV. This home is located within one block of Midland Elementary School. Low taxes and NO HOA! DONT wait to make a move on this opportunity to own your pool home for 2021!
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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 Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moreno Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,700 |
| EXPENSES | Loan Payment | -$1,531 |
| Property Tax | -$425 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$100 | |
|
CASH FLOW
-$422
|
||
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.
$415,000
PROJECTED PRICE
$1,700
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$115,725
LOAN DETAILS
$1,531
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $103,750 |
| Loan Amount | $311,250 |
1
YEARS SAVED
$1,965
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,700
LIST RENT -
$1.07
LIST RENT PER SQFT
-
$1,851
COMP ESTIMATED VALUE -
$1.16
COMP AVG. RENT PER SQFT
Comps Range
-
11347 Sagewood Moreno Valley, CA 2
- 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985
![property image]()
- Rent
- Rent Per SQFT
- $1,700
- $1.07
-
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
-
11897 Wild Flax Lane Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984
![property image]()
LEASED 01/31/20- Rent
- Rent Per SQFT
- $1,750
- $1.16
-
24608 Wild Calla Drive Moreno Valley, CA 4
- 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986
![property image]()
LEASED 04/09/20- Rent
- Rent Per SQFT
- $1,775
- $1.21
-
11221 Fernview Place Moreno Valley, CA 5
- 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
![property image]()
LEASED 07/02/20- Rent
- Rent Per SQFT
- $1,800
- $1.13
PROPERTY LISTING DETAILS
Pedersen Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20251301
Last Updated: 12/04/2020
