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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $160.80
- 4 Days on Market
- MLS # : AR21007254
- Updated Date : 01/14/2021 at 10:23
CONSTRUCTION
- Beds : 3
- Floor Size : 2,954 sqft
- Baths : 2 full , 1 half
Listing Agent
Moon Realty
Listing Agent's Description
New laminate floors, A/C air ducts, attic insulation, blinds, and interior paint. This beautiful home is perfect for first time buyers or investors. It is located on a quiet street that is close to the schools, parks, shopping centers and Lake Perris. It has convenient access to the 215 freeway. This home features 3 bedrooms and 2.5 baths. As you walk through the front door, you are greeted with a family room that connects to the open floor plan which includes the large living area, kitchen, and dining area. The living area has a sliding door which gives you access to the large private backyard. There is also an extra den that can be used as you see fit! All bedrooms are located upstairs; two bedrooms and a grand master bedroom with TWO walk-in closets, a large loft which can be used as an entertainment area, fitness area, or home office.
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MARKET HIGHLIGHTS
- 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)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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 | $2,240 |
| EXPENSES | Loan Payment | -$1,650 |
| Property Tax | -$585 | |
| Property Insurance | -$99 | |
| HOA | -$29 | |
| Property Management Fees | -$132 | |
|
CASH FLOW
-$254
|
||
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.
$475,000
PROJECTED PRICE
$2,240
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
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
2.42
YEARS SAVED
$8,648
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,240
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$2,462
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
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17291 Calle Rio Vista Moreno Valley, CA 2
- 3 beds 3 baths ∙ 2,954 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,954 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,240
- $0.76
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25305 Courtney Drive Moreno Valley, CA 1
- 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2004
LEASED 10/29/19- Rent
- Rent Per SQFT
- $2,195
- $0.74
-
15705 Mesa Verde Drive Moreno Valley, CA 3
- 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2004
LEASED 04/10/20- Rent
- Rent Per SQFT
- $2,300
- $0.86
-
26245 Unbridled Circle Moreno Valley, CA 4
- 3 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
LEASED 09/17/20- Rent
- Rent Per SQFT
- $2,500
- $0.90
PROPERTY LISTING DETAILS
Moon Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: AR21007254
Last Updated: 01/14/2021
