Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $301.78
- 3 Days on Market
- MLS # : EV20251446
- Updated Date : 12/04/2020 at 10:53
CONSTRUCTION
- Beds : 4
- Floor Size : 1,292 sqft
- Baths : 2 full
Listing Agent
Redfin
Listing Agent's Description
Move-in ready, single-story 4 bedroom/2 bath home in wonderful Moreno Valley. Cul de sac street. No HOA. Low tax rate. Custom entry door, high ceilings, textured ceilings, deco paint, lots of natural light, and custom baseboards. The Living Room, Dining Room, and Kitchen have 14mm thick vinyl plank flooring, a custom concrete fireplace and hearth with a custom mantel. Dining Room and open kitchen with lots of cabinet space, recessed LED lights, granite counters, stainless steel microwave, dishwasher, and stove included. Laundry area inside. Nice-sized secondary bedrooms. Bathroom 1 has ceramic tile flooring, framed mirror, granite counter, update faucet, and tub shower combo. Large Primary Suite with plantation shutters and high ceiling. Master bath has a double vanity, updated faucets, and large tub shower combo with ceramic tile flooring. Attached 2-car garage with epoxy flooring, large built in workbench and storage shelves. Covered patio, planter with fruit trees, and flat backyard with grass that has been recently reseeded and fertilized. New energy efficient vinyl argon gas filled double pane windows. Close to schools, shopping, and easy access to 60 and 215 Fwys.
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
* 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 | $1,620 |
| EXPENSES | Loan Payment | -$1,439 |
| Property Tax | -$402 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$378
|
||
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
$1,620
PROJECTED RENT
0.42%
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
$1,439
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $97,475 |
| Loan Amount | $292,425 |
1.17
YEARS SAVED
$2,466
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,620
LIST RENT -
$1.25
LIST RENT PER SQFT
-
$1,602
COMP ESTIMATED VALUE -
$1.24
COMP AVG. RENT PER SQFT
Comps Range
-
14168 Port Royal Place Moreno Valley, CA 2
- 4 beds 2 baths ∙ 1,292 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,292 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,620
- $1.25
-
15425 Camino Grande Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1986
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,575
- $1.22
-
25821 Coriander Court Moreno Valley, CA 3
- 4 beds 3 baths ∙ 1,437 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,437 Sqft ∙ Built 1984
LEASED 06/25/19- Rent
- Rent Per SQFT
- $1,850
- $1.29
-
14522 Parkwood Court Moreno Valley, CA 4
- 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986
LEASED 04/01/20- Rent
- Rent Per SQFT
- $1,950
- $1.21
-
14416 Janie Court Moreno Valley, CA 5
- 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,611 Sqft ∙ Built 1988
LEASED 08/23/19- Rent
- Rent Per SQFT
- $2,000
- $1.24
PROPERTY LISTING DETAILS
Redfin
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: EV20251446
Last Updated: 12/04/2020
