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12238 Orchid Lane #D Moreno Valley, CA 92557

3 Beds 2 Baths 1,183 sqft Built 1972

$169,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $143.62
  • 7 Days on Market
  • MLS # : SR20233751
  • Updated Date : 11/09/2020 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,183 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

This spacious Lakeview Sunnymead condo is nestled in the city of Moreno Valley near the 60fwy, shopping centers, and more. This two-story unit offers 3 bedrooms and 1.5 baths with over 1,100 Sq. Ft. of living space. Downstairs features the living room, dining room, and a powder bathroom. The family chef will enjoy their galley-style kitchen. Glass sliders lead to an attached outside BBQ area. The community is family-friendly and its monthly association fee covers trash, sewer, and water utilities. Keep your costs low and invest in this rare opportunity to own a fine investment in a prime location close to many amenities.

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
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
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$627
Property Tax -$175
Property Insurance -$56
HOA -$400
Property Management Fees -$99
CASH FLOW
$174

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.

$169,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.90%

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$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$26,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5304$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 12238 Orchid Lane Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.29
    •  
  • 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
    •  
  • 24755 Moontide Lane Moreno Valley, CA 4
    • 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
    •  
  • 11897 Wild Flax Lane Moreno Valley, CA 5
    • 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
PROPERTY LISTING DETAILS
Amador Contreras Mendoza
Keller Williams Central
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SR20233751
Last Updated: 11/09/2020
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