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17743 Corte Soledad Moreno Valley, CA 92551

4 Beds 3 Baths 2,541 sqft Built 2005

$470,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $184.97
  • 4 Days on Market
  • MLS # : IG21059986
  • Updated Date : 03/26/2021 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,541 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

WOW! This property is a eye catcher. Welcome to this amazing 2 story Moreno Valley home with and ton of upgrades. This property features 3 bedrooms with a possible 4th, 3 bathrooms. Front Balcony has a great view. Beautiful upgrades include a full Kitchen remodel - Kitchen cabinets, Island, Backsplash, Pot Filler, Lazy Susan. It gets better Fireplace, Master Bathroom remodel, Gorgeous Landscaping, custom dog run, New wood tile flooring and paint throughout the whole home. Location is walking distance to Rancho Verde High School and Lasselle Sports Park. If you're looking for turnkey this is it, this property is a MUST SEE!

SEE MORE

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

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
 

$423,000$517,000$470,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,632
Property Tax -$578
Property Insurance -$89
HOA -$75
Property Management Fees -$129
CASH FLOW
-$314

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.

$470,000

PROJECTED PRICE

$2,190

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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,357

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,3003$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 17743 Corte Soledad Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.86
    •  
  • 17765 Camino San Simeon Moreno Valley, CA 2
    • 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
    •  
  • 17395 Kentucky Derby Drive Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2005
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 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
    •  
  • 25989 Avenida De Plata Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,693 Sqft ∙ Built 2003
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jonathan Ybarra
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21059986
Last Updated: 03/26/2021
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