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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $243.38
- 3 Days on Market
- MLS # : IV21034929
- Updated Date : 02/19/2021 at 14:57
CONSTRUCTION
- Beds : 3
- Floor Size : 1,602 sqft
- Baths : 2 full
Listing Agent
United Realty Center Inc
Listing Agent's Description
Great location in Moreno Valley. Walk to schools, close to shopping and freeways. 3 bd 2 ba Cul De Sac home. Large lot. Needs a little TLC.
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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 | $1,860 |
| EXPENSES | Loan Payment | -$1,354 |
| Property Tax | -$399 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$110 | |
|
CASH FLOW
-$69
|
||
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.
$389,900
PROJECTED PRICE
$1,860
PROJECTED RENT
0.48%
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
$109,074
LOAN DETAILS
$1,354
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $97,475 |
| Loan Amount | $292,425 |
4.42
YEARS SAVED
$17,319
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,860
LIST RENT -
$1.16
LIST RENT PER SQFT
-
$1,834
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
-
13035 Napa Valley Court Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988
![property image]()
- Rent
- Rent Per SQFT
- $1,860
- $1.16
-
12909 Barbazon Drive Moreno Valley, CA 2
- 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1991
![property image]()
LEASED 04/23/20- Rent
- Rent Per SQFT
- $1,870
- $1.18
-
12683 Ninebark Street Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986
![property image]()
LEASED 09/03/19- Rent
- Rent Per SQFT
- $2,000
- $1.11
PROPERTY LISTING DETAILS
United Realty Center Inc
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21034929
Last Updated: 02/19/2021
