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23698 Suncrest Avenue Moreno Valley, CA 92553

3 Beds 2 Baths 1,125 sqft Built 1980

$340,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $302.22
  • 9 Days on Market
  • MLS # : SW20235196
  • Updated Date : 11/13/2020 at 13:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate, Tem

Listing Agent's Description

Welcome home to this turnkey, remodeled, single story pool home in Moreno Valley! It includes 3 bedrooms, 2 bathrooms and 1,125 square feet of living space plus in addition to a master suite that includes a master bedroom and master bathroom. Remodeling includes new paint on the walls, new laminate wood flooring, new crown molding and baseboards throughout the home. Even newer gutters have been installed around the outside of the home. Save money on this energy-efficient home that includes solar panels that is transferable to the new homeowner. Enjoy the curb appeal of the neatly manicured front lawn and cozy patio as you enter the living room with a newly redone fireplace. Cross over to the nook/eating area and into the newly remodeled kitchen. There are double security doors that lead to the backyard with a great patio area and new patio cover. Perfect for entertaining or a little rest and relaxation, you will find a fenced-in swimming pool and spacious backyard. Through the hallway, you will find a bedroom turned office on the left and a full bathroom towards the right off the hallway. Continuing on, you will enter another bedroom with it's own private bathroom. Turning the corner, you will see another bedroom turned sewing room on the right. Left side of the hallway, you will see the washer and dryer, where at the end of the hallway, you will run into the master bedroom with it's own master bathroom and walk-in closest with nice built-ins.

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: Moreno Valley

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Moreno Valley

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q290010001100120013001400150016001700180019002000Rent in $8802044

* 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
Creekside Elementary School Primary Regular 617 22 2
Sunnymead Middle School Middle Regular 1,490 74 2
Moreno Valley High School High Regular 2,350 87 3

Creekside Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 22
2
GreatSchools Rating

Sunnymead Middle School

  • Education Level: Middle
  • # of students: 1,490
  • # of teachers: 74
2
GreatSchools Rating

Moreno Valley High School

  • Education Level: High
  • # of students: 2,350
  • # of teachers: 87
3
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,254
Property Tax -$349
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$107

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.

$340,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$14,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 23698 Suncrest Avenue Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.47
    •  
  • 23583 Whispering Winds Way Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1984
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.22
    •  
  • 13686 Rundell Drive Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1979
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.27
    •  
  • 14813 Briana Street Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 12510 Andretti Street Moreno Valley, CA 5
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 1983
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
PROPERTY LISTING DETAILS
Gabriel Serrano
First Team Real Estate, Tem
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20235196
Last Updated: 11/13/2020
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