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13094 Tierra Canyon Drive Moreno Valley, CA 92553

4 Beds 2 Baths 1,793 sqft Built 1983

$385,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $214.72
  • 6 Days on Market
  • MLS # : CV20261619
  • Updated Date : 12/22/2020 at 15:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Cal American Homes And Realty

Listing Agent's Description

Lovely move in ready home that features 4 bedrooms and 2 bath built in 1983. Owners updated the home a few years ago and has been maintained it very well since then. Great floor plan makes this home feel even bigger than it is. The home was just painted with new carpet. The home is also conveniently located off the 60 freeway and within walking distance to Gateway Park, schools, shops and dining. The city’s commerce is growing at an exponential rate with large companies opening distribution and manufacturing centers.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,420
Property Tax -$396
Property Insurance -$71
Property Management Fees -$126
CASH FLOW
$127

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.

$385,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.56%

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$20k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$42,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,1004$2,1005$2,140
$2,140
RENT COMPS ANALYSIS
  • 13094 Tierra Canyon Drive Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,793 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.19
    •  
  • 23175 Lena Street Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1985
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 22780 Brompton Street Moreno Valley, CA 2
    • 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
    •  
  • 12760 Pan Am Boulevard Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 22810 Brompton Street Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1990
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jessie Rodriguez
Cal American Homes And Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20261619
Last Updated: 12/22/2020
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