Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $252.49
- 6 Days on Market
- MLS # : PW20248930
- Updated Date : 12/01/2020 at 21:09
CONSTRUCTION
- Beds : 4
- Floor Size : 1,568 sqft
- Baths : 2 full
Listing Agent
Global Home Realty
Listing Agent's Description
A COZY AND CHARMING HOME IN A THIS CUTE NEIGHBORHOOD IS A MUST SEE. THIS 4BR/2BA IS CONVENIENTLY LOCATED NEAR SHOPPING CENTER AND FREEWAYS. IT'S PERFECT FOR STARTING UP A FAMILY AND FIRST TIME HOME BUYER. OWNER ADDED LAMINATE FLOORING IN THE MASTER BEDROOM AND LIVING ROOM AND TILE IN THE 3 BEDROOMS. ALSO ADDED WERE CEILING FANS AND RECESS LIGHTINGS IN THE HALLWAY. THE DRIVEWAY WAS EXTENDED TO MAKE IT WIDER AND FLAGSTONE WORK WAS DONE ON THE SIDE BACKYARD. AND NOT TO MENTION A BEAUTIFUL SWIMMING POOL YOU WILL ENJOY WITH YOUR FAMILY AND FRIENDS ALONG WITH THE FRUITREES IN THIS BIG BACKYARD. YOU WILL HAVE TO COME AND SEE FOR YOURSELF!
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
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 | $1,940 |
| EXPENSES | Loan Payment | -$1,461 |
| Property Tax | -$407 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$114 | |
|
CASH FLOW
-$107
|
||
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.
$395,900
PROJECTED PRICE
$1,940
PROJECTED RENT
0.49%
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
$110,664
LOAN DETAILS
$1,461
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $98,975 |
| Loan Amount | $296,925 |
4.25
YEARS SAVED
$18,865
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,940
LIST RENT -
$1.24
LIST RENT PER SQFT
-
$1,909
COMP ESTIMATED VALUE -
$1.22
COMP AVG. RENT PER SQFT
Comps Range
-
12025 Buckthorn Drive Moreno Valley, CA 4
- 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $1,940
- $1.24
-
23241 Fall River Road Moreno Valley, CA 1
- 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1985
LEASED 07/15/19- Rent
- Rent Per SQFT
- $1,700
- $1.20
-
11897 Wild Flax Lane Moreno Valley, CA 2
- 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 3
- 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
Global Home Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW20248930
Last Updated: 12/01/2020
