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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $231.25
- 3 Days on Market
- MLS # : IV20238340
- Updated Date : 11/14/2020 at 09:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,600 sqft
- Baths : 2 full , 1 half
Listing Agent
Movoto, Inc.
Listing Agent's Description
Move in ready 3 bed 2.5 bath two story home located on a cul-de-sac north of the 60 freeway for convenient freeway access. This home has been tastefully remodeled throughout. Walking in to the home there is an open living room area with a fireplace. The dining room brings in plenty of natural sunlight and has been upgraded with shiplap on the walls. The dining room opens up to the kitchen area. The kitchen features granite tile counters, white cabinets with newer hardware and stainless steel appliances. Down the hall there is a room that is currently used as an office, but could also be used as an extra bedroom. There is a half bathroom downstairs that's been remodeled with wainscoating , an elegant pedestal sink and newer hardware. Upstairs there are 3 bedrooms. Both of the guest bedrooms are well sized. In the hallway there is a barndoor slider that is a door for a storage close. There is a ladder that leads to an extra loft area that can also serve as a den. The hallway bathroom has tile flooring, and a vanity with a granite countertop with new hardware and fixtures as well. The master bedroom has two sliding closets and additional storage space above the closet areas. The master bathroom must be seen to be appreciated. There is newly installed tile flooring and an ultra modern gray oversized vanity with a center sink with oil rubbed bronzed hardware. In the backyard of the home there is a wood covered patio area that has plenty of shade. Make this great home yours today!
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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 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 | $1,740 |
| EXPENSES | Loan Payment | -$1,365 |
| Property Tax | -$384 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$103 | |
|
CASH FLOW
-$177
|
||
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.
$370,000
PROJECTED PRICE
$1,740
PROJECTED RENT
0.47%
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
$103,800
LOAN DETAILS
$1,365
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,500 |
| Loan Amount | $277,500 |
3.25
YEARS SAVED
$11,423
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,740
LIST RENT -
$1.09
LIST RENT PER SQFT
-
$1,928
COMP ESTIMATED VALUE -
$1.21
COMP AVG. RENT PER SQFT
Comps Range
-
11867 Aslan Court Moreno Valley, CA 2
- 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,740
- $1.09
-
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
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
LEASED 01/31/20- Rent
- Rent Per SQFT
- $1,750
- $1.16
-
11865 Dream Street Moreno Valley, CA 4
- 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1984
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,850
- $1.26
-
23343 Seafarer Way Moreno Valley, CA 5
- 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984
LEASED 04/29/20- Rent
- Rent Per SQFT
- $2,000
- $1.25
PROPERTY LISTING DETAILS
Movoto, Inc.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20238340
Last Updated: 11/14/2020
