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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $173.76
- 3 Days on Market
- MLS # : CV20244093
- Updated Date : 11/21/2020 at 12:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,733 sqft
- Baths : 3 full
Listing Agent
Keller Williams Premier Proper
Listing Agent's Description
FANTASTIC opportunity to own a turnkey home in a wonderful Moreno Valley neighborhood! This habitat offers 4 bedrooms and 3 bathrooms in 2,733 square feet of open living space. The home has been modernized throughout and the kitchen boasts beautiful espresso cabinets, custom tile backsplash, gorgeous quartz countertops, sleek stainless steel appliances, a walk in pantry and a HUGE island, perfect for entertaining! The first floor master bedroom features a custom, sliding barn door and the ensuite is well appointed, amply sized and includes a HUGE walk in closet. The home's second floor can function as it's own private space complete with a LARGE loft, bathroom and bedroom - perfect for guests, in laws or a multigenerational family. This residence also features tasteful laminate hardwood floors in the main area, plantation shutters, a custom floor to ceiling stone fireplace, a covered patio with roller shades and a beautifully landscaped front yard. Centrally located to shops, dining and all major freeways, this charmer won't be around for long so act quickly!!
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $2,160 |
EXPENSES | Loan Payment | -$1,752 |
Property Tax | -$493 | |
Property Insurance | -$93 | |
HOA | -$35 | |
Property Management Fees | -$127 | |
CASH FLOW
-$341
|
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.
$474,888
PROJECTED PRICE
$2,160
PROJECTED RENT
0.45%
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
$131,595
LOAN DETAILS
$1,752
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $118,722 |
Loan Amount | $356,166 |
2
YEARS SAVED
$7,566
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,207
COMP ESTIMATED VALUE -
$0.81
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Keller Williams Premier Proper
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20244093
Last Updated: 11/21/2020