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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $199.61
- 6 Days on Market
- MLS # : IV21038184
- Updated Date : 02/25/2021 at 09:19
CONSTRUCTION
- Beds : 4
- Floor Size : 2,304 sqft
- Baths : 3 full
Listing Agent
Re/max One
Listing Agent's Description
Gorgeous, Upgraded 4 Bdrm/3 Bath w Golf Course Views. This Former Model has been remodeled & has so many upgrades, it's hard to list them all! Vaulted Ceiling in Entry & Living Room. Tile Floors throughout the first floor, New Carpet on the 2nd story. Kitchen features a Contemporary Basket Weave Backsplash w Newer Cabinets (soft close doors & drawers) & a Custom-Made Island. Counters are Marble. There’s a Walk-In Pantry, Gas Cooktop, Double Oven, Blt in Microwave, Dishwasher & Double Sink. Kitchen is open to the family room. Cozy Fireplace in Family Room too! There’s a Downstairs Bdrm & Remodeled ¾ bath for your guests. Upstairs, you’ll find a Loft, 2 Bedrooms Plus the Master. The 2 secondary Bedrooms are connected by a Jack n Jill Bathroom, w Remodeled Cabinets, Double Sinks & Marble Counters. Master Bedroom has a lovely view of the Golf Course & surrounding Hills fm the Balcony. Master Bath boasts a Separate Shower & Lg Soaking Tub, Dual Sinks & Walk In Closet w Mirrored Wardrobe doors, Upgraded Vanity w Glass Sinks & more Marble Counters. Add’l features include: Indoor Laundry w Utility Sink & Cabinets, Dual Pane Windows, 6 inch Baseboards, Six Panel Doors & 2 A/C Units (one for each floor). Large Side Yard with Mature Trees, Block Walls and Wrought Iron Fences for Outdoor Living. 3 Car Garage for Cars & Storage. All of this in a Gated Community, HOA has a Pool & Spa. A short Walk to Grocery Store & Restaurants. Just 5 minutes to Lake Perris State Park.
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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 | $2,170 |
| EXPENSES | Loan Payment | -$1,597 |
| Property Tax | -$484 | |
| Property Insurance | -$83 | |
| HOA | -$118 | |
| Property Management Fees | -$128 | |
|
CASH FLOW
-$241
|
||
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.
$459,900
PROJECTED PRICE
$2,170
PROJECTED RENT
0.47%
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
$127,624
LOAN DETAILS
$1,597
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $114,975 |
| Loan Amount | $344,925 |
2.42
YEARS SAVED
$8,654
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,170
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$2,183
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
-
14768 Muirfield Street Moreno Valley, CA 4
- 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $2,170
- $0.94
-
28817 Big Pine Way Moreno Valley, CA 1
- 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 2002
LEASED 11/10/20- Rent
- Rent Per SQFT
- $1,900
- $0.91
-
28518 Eagle Street Moreno Valley, CA 2
- 3 beds 4 baths ∙ 2,251 Sqft ∙ Built 2002 3 beds 4 baths ∙ 2,251 Sqft ∙ Built 2002
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,950
- $0.87
-
14810 Pete Dye Street Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002
LEASED 10/06/20- Rent
- Rent Per SQFT
- $2,000
- $1.01
-
28363 Birdie Street Moreno Valley, CA 5
- 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2002
LEASED 05/11/20- Rent
- Rent Per SQFT
- $2,200
- $1.00
PROPERTY LISTING DETAILS
Re/max One
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21038184
Last Updated: 02/25/2021
