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PROPERTY INFO
FACTS
- Built In 1984
- Price/Sqft : $277.98
- 8 Days on Market
- MLS # : CV20212636
- Updated Date : 11/02/2020 at 18:26
CONSTRUCTION
- Beds : 3
- Floor Size : 1,385 sqft
- Baths : 2 full
Listing Agent
Mainstreet Realtors
Listing Agent's Description
Beautiful Moreno Valley home won’t last! This single story spacious and well cared for home has three bedrooms, two bathrooms, a living room, den, enclosed sunroom, shed, two car garage and RV parking on over 10,000 ft.² of land. The kitchen has been upgraded with granite countertops, the master bathroom has been completely remodeled and brand new air conditioning and heating system has been installed this year. The common areas have recently been painted and upgraded with wood laminate flooring. Plantation shutters decorate the windows throughout and enjoy a fireplace in the den. City views from the backyard are priceless, plus covered patios in the front and back. Very close to the 60freeway and shopping.
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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 | $1,670 |
| EXPENSES | Loan Payment | -$1,420 |
| Property Tax | -$389 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$299
|
||
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.
$385,000
PROJECTED PRICE
$1,670
PROJECTED RENT
0.43%
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
$107,775
LOAN DETAILS
$1,420
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
1.75
YEARS SAVED
$5,303
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,670
LIST RENT -
$1.21
LIST RENT PER SQFT
-
$1,794
COMP ESTIMATED VALUE -
$1.3
COMP AVG. RENT PER SQFT
Comps Range
-
21881 Winding Road Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,670
- $1.21
-
11981 Day Street Moreno Valley, CA 2
- 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1983
LEASED 02/11/20- Rent
- Rent Per SQFT
- $1,800
- $1.30
-
22615 Sheffield Drive Moreno Valley, CA 3
- 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1987
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,925
- $1.27
-
21454 Woolf Court Moreno Valley, CA 4
- 3 beds 3 baths ∙ 1,489 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,489 Sqft ∙ Built 1992
LEASED 10/10/19- Rent
- Rent Per SQFT
- $1,950
- $1.31
-
21300 Pala Foxia Place Moreno Valley, CA 5
- 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 1989
LEASED 10/03/20- Rent
- Rent Per SQFT
- $2,000
- $1.30
PROPERTY LISTING DETAILS
Mainstreet Realtors
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20212636
Last Updated: 11/02/2020
