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

22931 Springdale Drive Moreno Valley, CA 92557

3 Beds 2 Baths 1,226 sqft Built 1988

$375,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $305.87
  • 5 Days on Market
  • MLS # : IV20253737
  • Updated Date : 12/09/2020 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,226 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Your search is over! You just found the cutest single story 3 bedroom 2 bath home located in the beautiful community of Hidden Springs. This home is a short drive to schools, shopping centers, hiking and easy freeway access. When you enter the property you'll find captivating light and neutral colors throughout. The family room has a cozy fireplace and popular open-concept with plenty of space to entertain. The backyard has lush landscaping and the perfect place to entertain, relax, play with the dogs or enjoy a bbq. Don't miss your chance to own this incredible move-in ready home!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,384
Property Tax -$376
Property Insurance -$57
Property Management Fees -$103
CASH FLOW
-$179

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.

$375,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$12,704

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7403$1,8504$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 22931 Springdale Drive Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.42
    •  
  • 23241 Fall River Road Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1985
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.20
    •  
  • 11865 Dream Street Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,474 Sqft ∙ Built 1984
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.26
    •  
  • 22761 Country Gate Road Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.23
    •  
  • 23572 Rose Meadow Court Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1987
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.24
    •  
PROPERTY LISTING DETAILS
Steven Amaya
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20253737
Last Updated: 12/09/2020
BESbswy