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PROPERTY INFO
FACTS
- Single Family
- Built In 1979
- Price/Sqft : $263.82
- 3 Days on Market
- MLS # : IG21032564
- Updated Date : 02/19/2021 at 23:00
CONSTRUCTION
- Beds : 4
- Floor Size : 1,556 sqft
- Baths : 2 full
Listing Agent
Remax Foothills
Listing Agent's Description
Welcome to your New Home! This spacious 1,556 sqft. 4 bedrooms, 3 baths, home has been completely remodeled in the interior and exterior, and the only thing missing to complete this masterpiece is your family. The exterior has been freshly painted with an updated modern color pallet, and an existing Sprinkler System, a Covered Patio with a built-in BBQ Area to entertain family and friends on special occasions, and an extra-large backyard with lots of potential even enough to add a pool. This home also includes a New A/C and HVAC System that was just installed on January 26, 2021. The interior holds Fresh Paint throughout the home and new Blinds. A New Kitchen with a beautiful Brand New Style of Quartz Countertops, New Cabinets, a New Stainless Steel Double Deep Sink, Beautiful Back Splash, All Stainless Steel Appliances, and a New Stainless Steel Exhaust Hood. The home also has New Recessed Lighting throughout and Light Fixtures, the bathrooms include a New Bathtub/Shower Combo and a Shower in the Master Room with Elegant Mosai's, New Vanities, Lighting, Sinks, and Much More. The bedrooms hold New Carpet, New Blinds, and Fresh Paint. This property possesses all of the beauty that one could dream of. Welcome to your dream home!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Moreno Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moreno Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,870 |
| EXPENSES | Loan Payment | -$1,426 |
| Property Tax | -$420 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$110 | |
|
CASH FLOW
-$151
|
||
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.
$410,500
PROJECTED PRICE
$1,870
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$114,533
LOAN DETAILS
$1,426
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $102,625 |
| Loan Amount | $307,875 |
3.5
YEARS SAVED
$12,419
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,870
LIST RENT -
$1.2
LIST RENT PER SQFT
-
$1,879
COMP ESTIMATED VALUE -
$1.21
COMP AVG. RENT PER SQFT
Comps Range
-
12358 Lorez Drive Moreno Valley, CA 2
- 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1979
- Rent
- Rent Per SQFT
- $1,870
- $1.20
-
24755 Moontide Lane Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981
LEASED 11/10/19- Rent
- Rent Per SQFT
- $1,650
- $1.19
-
25215 Hemlock Avenue Moreno Valley, CA 3
- 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,556 Sqft ∙ Built 1979
LEASED 03/23/20- Rent
- Rent Per SQFT
- $1,900
- $1.22
-
25896 Hollyberry Lane Moreno Valley, CA 4
- 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1988
LEASED 09/20/19- Rent
- Rent Per SQFT
- $1,930
- $1.21
-
12221 Cocopah Court Moreno Valley, CA 5
- 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1989 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1989
LEASED 03/18/20- Rent
- Rent Per SQFT
- $2,300
- $1.21
PROPERTY LISTING DETAILS
Remax Foothills
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21032564
Last Updated: 02/19/2021
