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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $212.73
- 3 Days on Market
- MLS # : CV21012495
- Updated Date : 02/20/2021 at 13:08
CONSTRUCTION
- Beds : 4
- Floor Size : 2,703 sqft
- Baths : 3 full
Listing Agent
Berkshire Hath Hm Svcs Ca Prop
Listing Agent's Description
Mountain Views and City Lights are waiting for you! You won’t find another property like this one! Sitting on nearly half an acre, you’ll find a fabulous home situated in a pleasant neighborhood with no neighbors on one side but instead surrounded by spectacular views. See yourself walking in through your grand double door entrance. As you enter you will find a splendid open formal living room, dining room and an impressive staircase. Stroll to the open kitchen, which overlooks a large family room and fireplace. There’s even a breakfast nook! Imagine yourself looking through the windows to the immense backyard. Having friends over for a summer BBQ won’t be a problem with room enough for tables, chairs, fun and games! Did I mention there is a bedroom & a bathroom downstairs for overnight guests? Upstairs you will find three bedrooms, two of which have double door entries, plus a bonus room! The master suite has two closets, one being a walk-in. Take a soothing bath and relax as you enjoy the views. RV parking, white vinyl fencing and a newly certified septic unit complete this wonderful property. Don’t miss your opportunity to make this estate-feel home yours!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Moreno Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moreno Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,340 |
| EXPENSES | Loan Payment | -$1,997 |
| Property Tax | -$567 | |
| Property Insurance | -$93 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$455
|
||
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.
$574,999
PROJECTED PRICE
$2,340
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$158,125
LOAN DETAILS
$1,997
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $143,750 |
| Loan Amount | $431,249 |
1.5
YEARS SAVED
$5,189
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,340
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$2,433
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
11748 Knoll Vista Street Moreno Valley, CA 3
- 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $2,340
- $0.87
-
12601 Magnolia Drive Moreno Valley, CA 1
- 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006
LEASED 04/14/20- Rent
- Rent Per SQFT
- $2,145
- $0.74
-
26419 Olympus Court Moreno Valley, CA 2
- 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,300
- $0.91
-
26930 Fir Avenue Moreno Valley, CA 4
- 4 beds 2 baths ∙ 2,719 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,719 Sqft ∙ Built 1981
LEASED 11/27/20- Rent
- Rent Per SQFT
- $2,850
- $1.05
PROPERTY LISTING DETAILS
Berkshire Hath Hm Svcs Ca Prop
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21012495
Last Updated: 02/20/2021
