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

16490 Heather Glen Road Moreno Valley, CA 92551

3 Beds 3 Baths 1,711 sqft Built 1989

INVESTimate

$340,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$371,042  ( +9.13%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $198.71
  • 16 Days on Market
  • MLS # : SW20162509
  • Updated Date : 08/11/2020 at 13:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,711 sqft
  • Baths : 2 full , 1 half
Listing Agent

S.d.s Realty & Property Manage

Listing Agent's Description

Beautiful starter or investment home. Spacious 3 bed, office, 2.5 bath and nice sized lot. Home is in good shape.

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

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
Mary Mcleod Bethune Elementary School Primary Regular 708 28 4
March Middle School Middle Regular 777 32 3
Citrus Hill High School High Regular 2,370 90 5

Mary Mcleod Bethune Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 28
4
GreatSchools Rating

March Middle School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 32
3
GreatSchools Rating

Citrus Hill High School

  • Education Level: High
  • # of students: 2,370
  • # of teachers: 90
5
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,254
Property Tax -$349
Property Insurance -$69
Property Management Fees -$106
CASH FLOW
$22

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

$1,800

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.13%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$27,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,9005$1,975
$1,975
RENT COMPS ANALYSIS
  • 16490 Heather Glen Road Moreno Valley, 2
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 25113 Red Maple Lane Moreno Valley, 1
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 26043 Pinto Court Moreno Valley, 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 24807 Gatewood Street Moreno Valley, 4
    • 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
  • 16430 Zocalo Place Moreno Valley, 5
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.04
    •  
PROPERTY LISTING DETAILS
Eddy Sandoval
S.d.s Realty & Property Manage
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20162509
Last Updated: 08/11/2020
BESbswy