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16900 Maile Lane Moreno Valley, CA 92551

4 Beds 3 Baths 1,691 sqft Built 1990

$399,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $236.49
  • 4 Days on Market
  • MLS # : IV20238664
  • Updated Date : 11/13/2020 at 17:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,691 sqft
  • Baths : 3 full
Listing Agent

Re/max One

Listing Agent's Description

*** Before making showing appointment, make sure to watch the virtual tours *** AWESOME Pool home for sale in Moreno Valley. Here is your opportunity to own a great home in a Cul-De-Sac Street, in Moreno Valley. Within walking distance to 3 parks, schools, near shopping and RCC Moreno Valley Campus. This home offers 4 bedrooms and 3 baths, with one bedroom and bath downstairs, it also offers a separate living room and family room as well as a formal dining room. Awesome bright and open kitchen with granite counter tops and plenty of cabinet space. This home is located on a cul de sac street with a great curb appeal, large back yard with inground pool and a beautiful patio that was just built a few months ago. Solar system is on a lease... buyer to assume the lease

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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,475
Property Tax -$410
Property Insurance -$68
Property Management Fees -$111
CASH FLOW
-$185

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.

$399,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.47%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$12,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,826

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8504$1,8805$1,900
$1,900
RENT COMPS ANALYSIS
  • 16900 Maile Lane Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 1,691 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,691 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.11
    •  
  • 25113 Red Maple Lane Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 16490 Heather Glen Road Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.05
    •  
  • 26043 Pinto Court Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 24807 Gatewood Street Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
PROPERTY LISTING DETAILS
Julio Sanchez
Re/max One
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20238664
Last Updated: 11/13/2020
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