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13160 Creekside Way Moreno Valley, CA 92555

5 Beds 3 Baths 2,961 sqft Built 2007

$510,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $172.24
  • 4 Days on Market
  • MLS # : OC20259676
  • Updated Date : 12/17/2020 at 22:51
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,961 sqft
  • Baths : 3 full
Listing Agent

First Choice Investments

Listing Agent's Description

HONEY STOP THE CAR!! this home has everything you have been looking for and more! Highly upgraded home in Moreno Valley; as you walk in you will be wowed by the elegant flooring and custom shutters in this living room / dining room combo. Home currently has 4 upstairs bedrooms and a downstairs den/ office space that could be turned back into a downstairs bedroom very easily. The kitchen is beautiful with granite counter tops; rich brown cabinets, bar area, wine fridge, lit pantry, upgraded appliances, custom lighting; custom accent wall and fireplace in the family room area. Upstairs you will notice larger than normal bedrooms; with the master retreat that overlooks the hills and features ceiling fan and walk in closets. Tons of storage and cabinets to add to your living experience. The back yard is large enough to add a pool or enjoy as is. Backyard has a tropical landscape and built cabana ready for your enjoyment. Need more?! this home has PAID OFF SOLAR PANELS! Use your A/C all summer and enjoy the benefits! Home also boasts water softener system that is included with the purchase. Conveniently located just minutes from the Target shopping center; and less than a few miles from Kaiser, Riverside Community hospital and easy freeway access.

SEE MORE

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

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
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,882
Property Tax -$537
Property Insurance -$99
HOA -$58
Property Management Fees -$143
CASH FLOW
-$298

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.

$510,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.47%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$11,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,384

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,1953$2,4204$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 13160 Creekside Way Moreno Valley, CA 3
    • 5 beds 3 baths ∙ 2,961 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,961 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.82
    •  
  • 12601 Magnolia Drive Moreno Valley, CA 1
    • 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,912 Sqft ∙ Built 2006
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.74
    •  
  • 26873 Campus Point Drive Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2004
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.76
    •  
  • 26470 Bay Avenue Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2005
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
  • 26590 Rose Bud Lane Moreno Valley, CA 5
    • 4 beds 4 baths ∙ 3,133 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,133 Sqft ∙ Built 2016
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Krissia Pena
First Choice Investments
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20259676
Last Updated: 12/17/2020
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