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22470 Mountain View Road Moreno Valley, CA 92557

3 Beds 2 Baths 1,617 sqft Built 1990

$399,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $247.31
  • 2 Days on Market
  • MLS # : SW20249263
  • Updated Date : 12/05/2020 at 10:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,617 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to Hidden Springs, a quaint little community tucked away in the hills at the North End of Moreno Valley. This functional floorplan has been tastefully updated with wood laminate flooring in the living room and dining area, and granite countertops in the kitchen. The vaulted ceilings in the living room instantly welcome you inside, and give this area a very open and spacious feeling. The living room is accented by a cozy 3-sided fireplace which opens up into the family room on the opposite side. Tile floors lead you down a short hallway and into the 2nd and 3rd bedrooms with a bathroom at the end of the hallway. Off the family room sits the master suite overlooking the rear yard, complete with dual sinks and a large walk-in closet. Privacy abounds in the backyard, as there are no rear neighbors here! Property backs up to natural open space with hills, walking, hiking, and biking trails, and is close to Box Springs Regional Park.

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: Hidden Springs

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $139k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Hidden Springs

ZipNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000Rent in $8802083

* 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
Vista Heights Middle School Middle Regular 1,414 51 5
Canyon Springs High School High Regular 2,488 96 5
Hidden Springs Elementary School Middle Regular 641 24 4

Vista Heights Middle School

  • Education Level: Middle
  • # of students: 1,414
  • # of teachers: 51
5
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,488
  • # of teachers: 96
5
GreatSchools Rating

Hidden Springs Elementary School

  • Education Level: Middle
  • # of students: 641
  • # of teachers: 24
4
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,475
Property Tax -$401
Property Insurance -$66
Property Management Fees -$113
CASH FLOW
-$145

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.

$399,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$17,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8953$1,9104$1,9505$2,150
$2,150
RENT COMPS ANALYSIS
  • 22470 Mountain View Road Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.18
    •  
  • 23725 Parkland Ave Moreno Valley, CA 1
    • 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 22761 Country Gate Road Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.23
    •  
  • 23572 Rose Meadow Court Moreno Valley, CA 4
    • 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.24
    •  
  • 9601 Ripplecreek Drive Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,798 Sqft ∙ Built 1989
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.20
    •  
PROPERTY LISTING DETAILS
Lacy Williams
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20249263
Last Updated: 12/05/2020
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