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12269 Turton Lane Moreno Valley, CA 92557

3 Beds 2 Baths 1,498 sqft Built 1984

$415,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $277.04
  • 5 Days on Market
  • MLS # : IV20254825
  • Updated Date : 12/11/2020 at 22:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,498 sqft
  • Baths : 2 full
Listing Agent

Castle Realty Group Inc.

Listing Agent's Description

A beautifully remodeled house in an excellent location. Close to 60 freeway and sits in a Cul-de sac street.

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
Box Springs Elementary School Primary Regular 404 15 2
Vista Heights Middle School Middle Regular 1,414 51 5
Canyon Springs High School High Regular 2,488 96 5

Box Springs Elementary School

  • Education Level: Primary
  • # of students: 404
  • # of teachers: 15
2
GreatSchools Rating

Vista Heights Middle School

  • Education Level: Middle
  • # of students: 1,414
  • # of teachers: 51
5
GreatSchools Rating

Canyon Springs High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,531
Property Tax -$419
Property Insurance -$63
Property Management Fees -$107
CASH FLOW
-$311

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.

$415,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.44%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$6,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8104$1,9255$2,000
$2,000
RENT COMPS ANALYSIS
  • 12269 Turton Lane Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.21
    •  
  • 11897 Wild Flax Lane Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,507 Sqft ∙ Built 1984
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.16
    •  
  • 12859 Gerrard Street Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.20
    •  
  • 22615 Sheffield Drive Moreno Valley, CA 4
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1987
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.27
    •  
  • 23343 Seafarer Way Moreno Valley, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Brandon Garrety
Castle Realty Group Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20254825
Last Updated: 12/11/2020
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