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12039 Buckthorn Drive Moreno Valley, CA 92557

4 Beds 2 Baths 1,846 sqft Built 1979

$389,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $211.21
  • 6 Days on Market
  • MLS # : SW20228181
  • Updated Date : 10/31/2020 at 05:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,846 sqft
  • Baths : 2 full
Listing Agent

Corcoran Global Living

Listing Agent's Description

Beautifully upgraded 4 bedroom home located in a LOW TAX & NO HOA community with RV parking! Home has gorgeous waterproof laminate flooring, granite counters, stainless steel appliances, one bedroom downstairs with a full bath downstairs as well. The backyard is made for entertaining with an oversized patio cover, huge grass area, fire pit with seating area, and landscaped flower beds. Hurry and see it before it's gone!

SEE MORE

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

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
Honey Hollow Elementary School Primary Regular 624 22 1
Palm Middle School Middle Regular 1,261 46 3
Canyon Springs High School High Regular 2,488 96 5

Honey Hollow Elementary School

  • Education Level: Primary
  • # of students: 624
  • # of teachers: 22
1
GreatSchools Rating

Palm Middle School

  • Education Level: Middle
  • # of students: 1,261
  • # of teachers: 46
3
GreatSchools Rating

Canyon Springs High School

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

$350,910$428,890$389,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,439
Property Tax -$401
Property Insurance -$72
Property Management Fees -$122
CASH FLOW
$37

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.

$389,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$32,677

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0703$2,1004$2,2505$2,500
$2,500
RENT COMPS ANALYSIS
  • 12039 Buckthorn Drive Moreno Valley, CA 2
    • 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,846 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.12
    •  
  • 23343 Seafarer Way Moreno Valley, CA 1
    • 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
    •  
  • 12760 Pan Am Boulevard Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 23878 Swan Street Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.18
    •  
  • 11534 Sandpiper Court Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.31
    •  
PROPERTY LISTING DETAILS
Bonnie Nieves
Corcoran Global Living
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20228181
Last Updated: 10/31/2020
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