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17923 Camino Del Rey Moreno Valley, CA 92551

3 Beds 3 Baths 1,757 sqft Built 2005

$409,500

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $233.07
  • 2 Days on Market
  • MLS # : SW21043451
  • Updated Date : 03/06/2021 at 12:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,757 sqft
  • Baths : 2 full , 1 half
Listing Agent

Marin Realty Group

Listing Agent's Description

G O R G E O U S HOME *TURNKEY!!! * Built in 2005 This lovely home has it all! 2 Story with a balcony to sit down and enjoy a beautiful morning or a nice evening. Open Floor plan kitchen and family room with a half bathroom on main floor. Huge closet for storage under the stairs. The kitchen has white cabinets and white granite counter tops, the sink is facing the Livingroom plenty of sitting area on the kitchen island. Coffee station, recessed lighting, Lots of Natural Light. Private washer and dryer room with lots of storage and very spacious. The garage is super clean. The backyard requires very low maintenance. Corner lot in a great community close to schools. The master bedroom is spacious, master bathroom has a large bathtub and a stand up shower. Large walking closet. HURRY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$368,550$450,450$409,500

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,422
Property Tax -$504
Property Insurance -$70
HOA -$50
Property Management Fees -$108
CASH FLOW
-$324

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.

$409,500

PROJECTED PRICE

$1,830

PROJECTED RENT

0.45%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$114,268

INVESTMENT

$114,268

Down Payment
$102,375
Rehab Estimate
$5,750
Closing Costs
$6,143

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,422

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,375
Loan Amount $307,125
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,832

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8504$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 17923 Camino Del Rey Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.04
    •  
  • 26043 Pinto Court Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 17756 Camino San Simeon Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,869 Sqft ∙ Built 2005
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 1429 Albillo Loop Perris, CA 4
    • 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 17776 Calle Capistrano Moreno Valley, CA 5
    • 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,757 Sqft ∙ Built 2005
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.08
    •  
PROPERTY LISTING DETAILS
Blanca Othman
Marin Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21043451
Last Updated: 03/06/2021
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