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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

$2,280

$2,052 - $2,508

Rent Est.

$448,581  ( +9.41%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
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

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
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,052$2,508$2,280

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

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
$2,100
1$2,1002$2,2803$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 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
Charles Berringer
Coldwell Banker Town & Country
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20174593
Last Updated: 08/25/2020
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