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22776 Mesa Springs Way 
Moreno Valley, CA
92557
4 Beds 3 Baths 2,346 sqft
Built 1992
INVESTimate
$410,000
List Price
$114,400
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PROPERTY INFO
FACTS
- Built In 1992
- Price/Sqft : $174.77
- 2 Days on Market
- MLS # : IV20174593
- Updated Date : 08/25/2020 at 21:18
CONSTRUCTION
- Beds : 4
- Floor Size : 2,346 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker Town & Country
Listing Agent's Description
Nestled in the Hidden Springs area, this home is ready for its next chapter. Beautiful drought resistant landscaping welcomes you to a semi secluded porch area and Glass inlay and front double doors. From the entry way to the elegant staircase up or the step down into the living area.The living room and formal dining room share a high ceiling and many windows. The kitchen has been remodeled with resurfaced cabinets, Quartz counters, new sink and tile flooring. The dinette area is open to a bay window to take in the back yard and view of the wooded area adjoining the property. The french doors lead to the back yard ready to take on your personality and enjoy the peace and quiet. The family room has a welcoming fireplace for ambiance. The first bedroom is on the ground floor and has its own door to the 3/4 bathroom with it's full length shower, you may easily add a tub if desired. The laundry room is on the way to the garage and is ready for a gas or electric dryer. At the top of the stairs, you can look over the open space below. The cavernous Master Bed room has a French door to the balcony and what a view! 2 large walk in closets, large double sink counter and a separate soaking tub and full width shower. The remaining bedrooms have windows to the street. This home has been fitted with a Fire Sprinkler system for added safety. The neighborhood is well kept, a sign of neighborhood pride in ownership.
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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: Hidden Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hidden Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,280 |
| EXPENSES | Loan Payment | -$1,513 |
| Property Tax | -$411 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$135 | |
|
CASH FLOW
$138
|
||
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.
$410,000
PROJECTED PRICE
$2,280
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.41% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$114,400
LOAN DETAILS
$1,513
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $102,500 |
| Loan Amount | $307,500 |
7.67
YEARS SAVED
$47,780
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,280
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,352
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
22776 Mesa Springs Way Moreno Valley, 2
- 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,346 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $2,280
- $0.97
-
22431 Cobble Creek Drive Moreno Valley, 1
- 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,073 Sqft ∙ Built 1988
LEASED 06/15/20- Rent
- Rent Per SQFT
- $2,100
- $1.01
-
9893 Paseo Cayuco Moreno Valley, 3
- 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004
LEASED 11/06/19- Rent
- Rent Per SQFT
- $2,300
- $0.96
-
10335 Brookmead Drive Moreno Valley, 4
- 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,358 Sqft ∙ Built 1987
LEASED 06/16/20- Rent
- Rent Per SQFT
- $2,350
- $1.00
-
23022 Cotati Court Moreno Valley, 5
- 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,397 Sqft ∙ Built 2001
LEASED 05/16/20- Rent
- Rent Per SQFT
- $2,500
- $1.04
PROPERTY LISTING DETAILS
Coldwell Banker Town & Country
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20174593
Last Updated: 08/25/2020
