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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $268.85
- 3 Days on Market
- MLS # : IV21029717
- Updated Date : 02/12/2021 at 11:03
CONSTRUCTION
- Beds : 3
- Floor Size : 1,525 sqft
- Baths : 2 full , 1 half
Listing Agent
Alejandro Soto Broker
Listing Agent's Description
Ready to move in !Ready to move in ! Bonus room ! This Moreno Valley gem is awaiting a lucky new owner! From its prime location and lovely curb appeal to its bright floor plan and entertaining backyard, you’ll love everything about this home. As you enter the home, you are greeted by a spacious living room that offers the perfect area to lounge and relax after a long day. Living room features tile floors, a chimney, and large windows fill the room with natural sunlight. Make your way over to the kitchen and share your meals in the separate dining area. This home is complete with 3 bedrooms, 2 1/2 bathrooms and a Bonus room, laundry inside the garage, 2-car attached garage, and is conveniently located near several shopping centers, restaurants, schools and parks. Ready to call this house your new home? Here is your opportunity! This home is a MUST-SEE!
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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 | $1,790 |
| EXPENSES | Loan Payment | -$1,424 |
| Property Tax | -$423 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$106 | |
|
CASH FLOW
-$227
|
||
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.
$410,000
PROJECTED PRICE
$1,790
PROJECTED RENT
0.44%
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
$114,400
LOAN DETAILS
$1,424
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $102,500 |
| Loan Amount | $307,500 |
2.5
YEARS SAVED
$7,810
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,790
LIST RENT -
$1.17
LIST RENT PER SQFT
-
$1,861
COMP ESTIMATED VALUE -
$1.22
COMP AVG. RENT PER SQFT
Comps Range
-
14221 Saint Tropez Court Moreno Valley, CA 2
- 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,790
- $1.17
-
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
-
25896 Hollyberry Lane Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 1988
LEASED 09/20/19- Rent
- Rent Per SQFT
- $1,930
- $1.21
-
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
Alejandro Soto Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21029717
Last Updated: 02/12/2021
