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12660 Andretti Street Moreno Valley, CA 92553

3 Beds 2 Baths 1,460 sqft Built 1983

$395,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $270.55
  • 6 Days on Market
  • MLS # : IV21016989
  • Updated Date : 01/29/2021 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full
Listing Agent

L & L Realtors

Listing Agent's Description

Great entertainers home! This 3 bedroom 2 bath pool home is located in a great neighborhood, walking distance to schools and shopping centers. This open floor plan between living, dining, and family room make entertaining convenient and fun. Leased solar, which will be paid off prior to close of escrow. Enjoy relaxing under the covered patio after a swim in the gorgeous pool. Large landscaped yard. This home won't last long!

SEE MORE

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
Sunnymeadows Elementary School Primary Regular 655 24 4
Sunnymead Middle School Middle Regular 1,490 74 2
Moreno Valley High School High Regular 2,350 87 3

Sunnymeadows Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 24
4
GreatSchools Rating

Sunnymead Middle School

  • Education Level: Middle
  • # of students: 1,490
  • # of teachers: 74
2
GreatSchools Rating

Moreno Valley High School

  • Education Level: High
  • # of students: 2,350
  • # of teachers: 87
3
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,372
Property Tax -$406
Property Insurance -$63
Property Management Fees -$100
CASH FLOW
-$241

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.

$395,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,408

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 12660 Andretti Street Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.16
    •  
  • 13224 Pavillion Court Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1981
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.17
    •  
  • 11897 Wild Flax Lane Moreno Valley, CA 3
    • 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
    •  
  • 23343 Seafarer Way Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,600 Sqft ∙ Built 1984
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.25
    •  
  • 22780 Brompton Street Moreno Valley, CA 5
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1989
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
PROPERTY LISTING DETAILS
Raul Lopez
L & L Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21016989
Last Updated: 01/29/2021
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