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12074 Franklin Street Moreno Valley, CA 92557

5 Beds 3 Baths 2,512 sqft Built 1999

$509,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $202.99
  • 2 Days on Market
  • MLS # : IV20222905
  • Updated Date : 11/02/2020 at 15:11
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,512 sqft
  • Baths : 3 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

THIS IS IT!! A BEAUTIFUL 5 BED 3 BATH HOME OVER 2500 FEET OF LIVING SPACE !!! THIS HOME HAS GREAT CURB APPEAL AND IT DOESN'T STOP THERE!! WALK INTO THIS HOME AND ALL YOU SEE IS DETAILS!! ALL THE WAY FROM THE CUSTOM PAINT AND REAL HARDWOOD FLOORING THROUGHOUT THE DOWN STAIRS ACCENTED WITH CUSTOM TILE FLOORING , FORMAL LIVING ROOM AND DINING HAVE PLENTY OF ROOM FOR THOSE GATHERINGS, DEN AND KITCHEN OPENS UP FOR A VERY NICE FLOW , KITCHEN HAS NEWER APPLIANCES AND COUNTERTOPS , WHOLE HOUSE FAN!!!! KITCHEN EVEN HAS A BREAKFAST NOOK THAT LOOKS OUT THE SLIDING BACK DOOR TO THE PLUSH LANDSCAPING IN THE BACKYARD , CUSTOM BRICK AREA TO SIT AND RELAX ,ALONG WITH PLENTY OF GRASS TO HOST THOSE OUTSIDE EVENTS , BACKYARD HAS NEWER VINYL FENCING ALL THE WAY AROUND .THE HOME HAS A FULL 1 BED AND 1 FULLBATH DOWNSTAIRS AND 4 BEDROOMS AND 2 FULL BATHS UPSTAIRS , FAMILY ROOM HAS A FIREPLACE , HOME FEATURES INDOOR LAUNDRY ROOM , THIS HOME SHOWS TRUE PRIDE OF OWNERSHIP !! HURRY THIS HOME WILL NOT LAST !!

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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

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
Cloverdale Elementary School Primary Regular 697 25 3
Palm Middle School Middle Regular 1,261 46 3
Valley View High School High Regular 2,686 107 4

Cloverdale Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 25
3
GreatSchools Rating

Palm Middle School

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

Valley View High School

  • Education Level: High
  • # of students: 2,686
  • # of teachers: 107
4
GreatSchools Rating
 

$458,910$560,890$509,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,881
Property Tax -$519
Property Insurance -$88
Property Management Fees -$142
CASH FLOW
-$230

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.

$509,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.47%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,874

INVESTMENT

$140,874

Down Payment
$127,475
Rehab Estimate
$5,750
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$17,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,368

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,4004$2,4005$2,480
$2,480
RENT COMPS ANALYSIS
  • 12074 Franklin Street Moreno Valley, CA 4
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 24916 Metric Drive Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2017
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 25173 Bronze Drive Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2002
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
  • 12122 Franklin Street Moreno Valley, CA 3
    • 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,512 Sqft ∙ Built 1999
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 12720 Lasselle Street Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.96
    •  
PROPERTY LISTING DETAILS
Christopher Fogleman
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20222905
Last Updated: 11/02/2020
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