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12900 Montecello Drive Moreno Valley, CA 92555

3 Beds 3 Baths 1,838 sqft Built 1989

$395,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $214.91
  • 7 Days on Market
  • MLS # : IV21046910
  • Updated Date : 03/12/2021 at 15:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,838 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

This 2 story home in Moreno Valley with great curb appeal boasts 3 bedrooms, 2.5 bathrooms, and a loft across 1,838 square feet. A quaint, flagstone paved, entry porch gives way to the formal living room and a short central hall connecting the family room and kitchen. The centrally located kitchen is adjacent to the family room, dining room, and rear yard access, creating seamless common areas. A cascading staircase winds up to a mezzanine hallway that connects the bedrooms and the second floor loft. Separated from the secondary bedrooms, the owner’s suite boasts an ensuite bathroom with dual sinks, separate tub, and a large closet. Opposite of the master bedroom, two secondary bedrooms and a full bath complete the second floor. Take a look today!

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
Bear Valley Elementary School Primary Regular 901 31 5
Mountain View Middle School Middle Regular 1,239 60 3
Valley View High School High Regular 2,686 107 4

Bear Valley Elementary School

  • Education Level: Primary
  • # of students: 901
  • # of teachers: 31
5
GreatSchools Rating

Mountain View Middle School

  • Education Level: Middle
  • # of students: 1,239
  • # of teachers: 60
3
GreatSchools Rating

Valley View High School

  • Education Level: High
  • # of students: 2,686
  • # of teachers: 107
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,372
Property Tax -$407
Property Insurance -$72
Property Management Fees -$116
CASH FLOW
-$7

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

$1,960

PROJECTED RENT

0.50%

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$0.0$5.0k$10k$15k

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 45% 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

5.42

YEARS SAVED

$22,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,962

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9604$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 12900 Montecello Drive Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,838 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,838 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.07
    •  
  • 25505 Buckland Lane Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 1985
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 14537 Cholla Drive Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 25700 Palm Shadows Drive Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1987
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.09
    •  
  • 12621 Heartleaf Street Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,141 Sqft ∙ Built 1984
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Miles Turner
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21046910
Last Updated: 03/12/2021
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