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12223 Orchid Lane #A Moreno Valley, CA 92557

3 Beds 2 Baths 1,080 sqft Built 1986

$176,650

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $163.56
  • 5 Days on Market
  • MLS # : IV21017536
  • Updated Date : 01/28/2021 at 14:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 2 full
Listing Agent

Alticore Realty

Listing Agent's Description

****** LARGE FIRST FLOOR CONDO WITH EXTERIOR FENCED PATIO. *****WOOD FLOORS AND TILE. ******FURNACE AND HOT WATER IN HALL CLOSET. ****** INTERIOR WASHER DRYER LOCATION ******* COMMUNITY POOL UNDER RECONDITIONING. ******* THIS PROPERTY IS SOLD WITH A RENTAL TO TENANT AT $1,380 PER MONTH!!! ********THE UNIT IS ACTUALLY 3BR/2BA AND SQ FT IS PROBABLLY 1,153.******* NO UNIT ABOVE THIS ONE!!!!!

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 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
Midland Elementary School Primary Regular 685 25 4
Palm Middle School Middle Regular 1,261 46 3
Canyon Springs High School High Regular 2,488 96 5

Midland Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 25
4
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
 

$158,985$194,315$176,650

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$614
Property Tax -$181
Property Insurance -$53
HOA -$400
Property Management Fees -$99
CASH FLOW
$173

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.

$176,650

PROJECTED PRICE

$1,520

PROJECTED RENT

0.86%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,562

INVESTMENT

$52,562

Down Payment
$44,163
Rehab Estimate
$5,750
Closing Costs
$2,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$614

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,163
Loan Amount $132,488
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$22,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5204$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 12223 Orchid Lane Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.41
    •  
  • 12237 Orchid Lane Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1975
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.17
    •  
  • 24065 Fir Avenue Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1984
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.13
    •  
  • 23583 Whispering Winds Way Moreno Valley, CA 4
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1984
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.22
    •  
  • 24755 Moontide Lane Moreno Valley, CA 5
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981
    property image
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kenneth Green
Alticore Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21017536
Last Updated: 01/28/2021
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