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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $320.75
- 3 Days on Market
- MLS # : SW21009124
- Updated Date : 01/15/2021 at 18:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,060 sqft
- Baths : 2 full
Listing Agent
Alticore Realty
Listing Agent's Description
Welcome Home! This beautiful single-story home is perfect for anyone wanting to purchase as a first-time home buyer or as an investment opportunity. You are going to absolutely fall in love with the floor plan of this home and with 3 bedrooms and 2 full bathrooms this gem is ideal for any size family. The backyard of this house is also perfect for gatherings of any type with concrete throughout, a covered patio, and plenty of landscaped areas for the kids to play. Located just minutes away from schools, shopping centers, Lake Perris, and 215 freeway. This is a must see! Call us today for more details!
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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
* 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 | $1,580 |
| EXPENSES | Loan Payment | -$1,181 |
| Property Tax | -$349 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$102
|
||
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.
$340,000
PROJECTED PRICE
$1,580
PROJECTED RENT
0.46%
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
$95,850
LOAN DETAILS
$1,181
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $85,000 |
| Loan Amount | $255,000 |
3.83
YEARS SAVED
$12,268
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,580
LIST RENT -
$1.49
LIST RENT PER SQFT
-
$1,320
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
-
16359 Silverbirch Road Moreno Valley, CA 2
- 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1987
- Rent
- Rent Per SQFT
- $1,580
- $1.49
-
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
-
14937 Silvertree Road Moreno Valley, CA 3
- 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,625
- $1.27
PROPERTY LISTING DETAILS
Alticore Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW21009124
Last Updated: 01/15/2021
