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23421 Presidio Hills Drive Moreno Valley, CA 92557

3 Beds 3 Baths 2,384 sqft Built 2004

$439,500

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $184.35
  • 6 Days on Market
  • MLS # : DW21022438
  • Updated Date : 02/06/2021 at 05:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,384 sqft
  • Baths : 3 full
Listing Agent

24 Hour Real Estate

Listing Agent's Description

Come see this beautiful home on the north side of the city with closeup views of Shadow Mountain. Original owner has kept this home in immaculate condition and ready for the next owner. Greeted by an entry courtyard. The home offers 3 beds and 3 baths, home office or 4th bedroom, open kitchen and family room, and a dining area alongside the living Room. A long hallway, complete with storage cabinets, leads you to the Master and the 2nd bedroom. Master Bedroom features a walk in closet and a master bathroom with dual sinks, and separate shower and tub. Bedroom #3 includes it's own bathroom and walk in closet. There is lots of room to host family and friends. Standard two car garage is attached and leads into the laundry room which can also be accessed from the hallway. A separate single car garage is attached to the 3rd bedroom with it's own entry door from the small garage. This garage can be used for storage, or converted to a workshop or made into additional living space. The backyard Patio is constructed of Alumna Wood that runs the length of the house ready to host family gatherings. Elementary, Middle and High Schools are all a short distance away. Walking distance to Shadow Mountain Park. Easy access to the 60 Frwy. Lots of shopping and restaurants nearby.

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
Vista Heights Middle School Middle Unknown NA

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

Vista Heights Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$395,550$483,450$439,500

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,527
Property Tax -$533
Property Insurance -$85
HOA -$22
Property Management Fees -$129
CASH FLOW
-$105

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.

$439,500

PROJECTED PRICE

$2,190

PROJECTED RENT

0.50%

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$1.6M

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$122,218

INVESTMENT

$122,218

Down Payment
$109,875
Rehab Estimate
$5,750
Closing Costs
$6,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,527

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,875
Loan Amount $329,625
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$17,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,426

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2003$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 23421 Presidio Hills Drive Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,384 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.92
    •  
  • 10630 Silverleaf Circle Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
  • 23888 Lone Pine Drive Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 10335 Brookmead Drive Moreno Valley, CA 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, CA 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
Ralph Aranda Jr.
24 Hour Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21022438
Last Updated: 02/06/2021
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