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12084 Mary Lee Way Moreno Valley, CA 92555

4 Beds 2 Baths 1,988 sqft Built 1986

$499,777

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $251.40
  • 9 Days on Market
  • MLS # : IG21007861
  • Updated Date : 01/17/2021 at 10:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 2 full
Listing Agent

Ega Homes

Listing Agent's Description

*Single Story Ranch Style Home * This 4 bedroom, 2 bath home has been well cared for and features a formal living room, dining room, separate family room with fireplace and kitchen with granite countertops, stainless steel appliances and eating area. This home has a large back yard, just over 1/2 of an acre, with plenty of room for your cars and toys. The extra large patio is perfect for entertaining, and the mature trees and gazebo provide a park - like setting. Call for an appointment to view. Buyer to verify all data.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$449,799$549,755$499,777

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,736
Property Tax -$493
Property Insurance -$75
Property Management Fees -$124
CASH FLOW
-$328

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.

$499,777

PROJECTED PRICE

$2,100

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$138,191

INVESTMENT

$138,191

Down Payment
$124,944
Rehab Estimate
$5,750
Closing Costs
$7,497

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,944
Loan Amount $374,833
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,240

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,082

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1004$2,1005$2,450
$2,450
RENT COMPS ANALYSIS
  • 12084 Mary Lee Way Moreno Valley, CA 4
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 12231 Mary Lee Way Moreno Valley, CA 1
    • 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1989
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 12683 Ninebark Street Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
  • 25700 Palm Shadows Drive Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1987
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 25932 Andre Court Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1991
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ruben Hernandez
Ega Homes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21007861
Last Updated: 01/17/2021
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