Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $216.20
- 3 Days on Market
- MLS # : CV21035603
- Updated Date : 02/20/2021 at 09:51
CONSTRUCTION
- Beds : 4
- Floor Size : 2,197 sqft
- Baths : 2 full , 1 half
Listing Agent
Century 21 Masters
Listing Agent's Description
Beautiful two story home in the Box Springs area with great city views! As you enter you have vaulted ceilings in the formal living and dining room. Lots of natural light. Featuring 4 bedrooms, 2 1/2 baths, 2,197 sq ft of living space. Indoor laundry. Wet bar. Updated master bath and newer flooring installed upstairs. Kitchen has also been updated and opens up to the spacious family room which overlooks the large backyard with a covered patio. Great for entertaining! 3 car garage. Exterior of property has been recently painted. It's also conveniently located near shopping centers that include Costco, Walmart, and many food places. Also close to UC Riverside. Easy access to 60/215 frwys.
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
* 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 | $2,140 |
| EXPENSES | Loan Payment | -$1,650 |
| Property Tax | -$480 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$126 | |
|
CASH FLOW
-$196
|
||
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.
$474,999
PROJECTED PRICE
$2,140
PROJECTED RENT
0.45%
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
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,249 |
3.33
YEARS SAVED
$13,119
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,140
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,142
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
22609 Climbing Rose Drive Moreno Valley, CA 4
- 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1987
![property image]()
- Rent
- Rent Per SQFT
- $2,140
- $0.97
-
22509 Scarlet Sage Way Moreno Valley, CA 1
- 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,885 Sqft ∙ Built 1989
![property image]()
LEASED 10/17/19- Rent
- Rent Per SQFT
- $1,850
- $0.98
-
22770 Wimpole Street Moreno Valley, CA 2
- 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 1990
![property image]()
LEASED 12/04/20- Rent
- Rent Per SQFT
- $2,000
- $0.96
-
12760 Pan Am Boulevard Moreno Valley, CA 3
- 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 1989
![property image]()
LEASED 08/06/20- Rent
- Rent Per SQFT
- $2,100
- $1.06
-
23118 Donahue Court Moreno Valley, CA 5
- 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1983
![property image]()
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,150
- $0.90
PROPERTY LISTING DETAILS
Century 21 Masters
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21035603
Last Updated: 02/20/2021
