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

17308 Cremello Way Moreno Valley, CA 92555

3 Beds 3 Baths 2,231 sqft Built 2005

$419,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $187.81
  • 24 Days on Market
  • MLS # : OC21002545
  • Updated Date : 02/02/2021 at 21:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,231 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this beautiful home in Rancho Belago. This home offers 3 bedrooms, 2.5 baths, 2,231 sq ft of living space on an almost 7,000 sq ft lot. The kitchen has granite countertops and backsplash, a center island, recessed and under counter lighting, open to the huge family room with fireplace and slider to the large-sized backyard. The master bedroom has an ensuite bath with double sinks, separate shower, and soaking tub, walk-in closet, 2nd bath also has dual sinks and a large and convenient 2nd-floor laundry room with sink and cabinets. Updates include NEW Exterior Fascia Paint and Brand NEW Carpeting.

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
Lasselle Elementary School Primary Regular 915 33 7
Vista Verde Middle School Middle Regular 932 39 4
Rancho Verde High School High Regular 3,262 122 5

Lasselle Elementary School

  • Education Level: Primary
  • # of students: 915
  • # of teachers: 33
7
GreatSchools Rating

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 932
  • # of teachers: 39
4
GreatSchools Rating

Rancho Verde High School

  • Education Level: High
  • # of students: 3,262
  • # of teachers: 122
5
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,455
Property Tax -$520
Property Insurance -$81
HOA -$25
Property Management Fees -$120
CASH FLOW
-$171

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.

$419,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.48%

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,455

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,0503$2,2954$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 17308 Cremello Way Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,231 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.91
    •  
  • 26555 Santa Rosa Drive Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,107 Sqft ∙ Built 2003
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 25961 Soaring Seagull Lane Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
  • 17765 Camino San Simeon Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,541 Sqft ∙ Built 2005
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 25924 Soaring Seagull Lane Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.92
    •  
PROPERTY LISTING DETAILS
Brian Brassil
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21002545
Last Updated: 02/02/2021
BESbswy