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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.
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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
* 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 | $2,030 |
| 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
| 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
$116,785
LOAN DETAILS
$1,455
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $104,750 |
| Loan Amount | $314,250 |
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
-
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
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21002545
Last Updated: 02/02/2021
