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14490 Redwing Drive Moreno Valley, CA 92553

3 Beds 2 Baths 1,287 sqft Built 1988

$370,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $287.49
  • 4 Days on Market
  • MLS # : CV21013942
  • Updated Date : 01/23/2021 at 09:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,287 sqft
  • Baths : 2 full
Listing Agent

Re/max Champions

Listing Agent's Description

Charming starter home located in the highly sought area of Moreno Valley. House featured: an Open Floor Plan with Vaulted Ceilings, Tile Flooring throughout, Granite Counter Tops, French Sliding Door to backyard, Dual pane windows with Plantation Shutters, Laminated Flooring in Bedrooms, Central Air & Central Heating, RV accessed Parking area, Vinyl & Block Fences All Around. Newly installed(2017) 15 Solar Panels included.

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
Hendrick Ranch Elementary School Primary Regular 696 24 3
Landmark Middle School Middle Regular 1,244 52 2
Vista Del Lago High School High Regular 2,189 87 4

Hendrick Ranch Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 24
3
GreatSchools Rating

Landmark Middle School

  • Education Level: Middle
  • # of students: 1,244
  • # of teachers: 52
2
GreatSchools Rating

Vista Del Lago High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 87
4
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,285
Property Tax -$382
Property Insurance -$58
Property Management Fees -$104
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.

$370,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $1,567

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6953$1,7604$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 14490 Redwing Drive Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.37
    •  
  • 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
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.22
    •  
  • 14813 Briana Street Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 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
    property image
    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
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.24
    •  
PROPERTY LISTING DETAILS
Poe Ngo
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21013942
Last Updated: 01/23/2021
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