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22110 Witchhazel Avenue Moreno Valley, CA 92553

4 Beds 3 Baths 1,633 sqft Built 2002

INVESTimate

$389,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$424,516  ( +9.13%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $238.21
  • 16 Days on Market
  • MLS # : OC20143202
  • Updated Date : 08/25/2020 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,633 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this bright home with an open floorplan. You are greeted by a covered entry with front patio area, this home has 1,668 sq ft of living space and 4 bedrooms, 3 baths, including the highly coveted bedroom, bath, and convenient laundry rooms on the main level. Separate dining room, open to family room with fireplace and media niche which opens to the kitchen with slider to rear yard and no neighbor behind. Other features include double-paned windows, new kitchen appliances, new carpet, new interior paint, and a 2nd-floor office area with built-in desk. Easy access to freeways and close to Shopping Centers. Low taxes and no HOA keep your payments low.

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
Towngate Elementary School Primary Regular 849 32 6
Sunnymead Middle School Middle Regular 1,490 74 2
Moreno Valley High School High Regular 2,350 87 3

Towngate Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 32
6
GreatSchools Rating

Sunnymead Middle School

  • Education Level: Middle
  • # of students: 1,490
  • # of teachers: 74
2
GreatSchools Rating

Moreno Valley High School

  • Education Level: High
  • # of students: 2,350
  • # of teachers: 87
3
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,435
Property Tax -$413
Property Insurance -$67
Property Management Fees -$118
CASH FLOW
-$33

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.

$389,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.13%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$25,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 22110 Witchhazel Avenue Moreno Valley, 4
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 12283 Romford Court Moreno Valley, 1
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1987
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
  • 12859 Gerrard Street Moreno Valley, 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1992
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.20
    •  
  • 22780 Brompton Street Moreno Valley, 3
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1989
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 22126 Witchhazel Avenue Moreno Valley, 5
    • 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,633 Sqft ∙ Built 2002
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.29
    •  
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 #: OC20143202
Last Updated: 08/25/2020
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