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23749 Hazelwood Drive Moreno Valley, CA 92557

4 Beds 3 Baths 2,004 sqft Built 1987

$440,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $219.56
  • 4 Days on Market
  • MLS # : IV20239371
  • Updated Date : 11/19/2020 at 11:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,004 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Town & Country

Listing Agent's Description

Beautiful two-story home located in a highly desired neighborhood in Sunnymead Ranch. The home features 4 bedrooms, one which is downstairs, and 3 full bathrooms. The open floorplan throughout downstairs allows for easy movement from one room to the next. Upon entering through the double doors, the home opens up to two-story ceilings in the formal living and dining rooms. The family room is open to the kitchen and features a rustic brick fireplace. Once upstairs, the 2 secondary bedrooms share a jack & jill bathroom while the master bedroom offers a balcony and beautiful wainscoting. Outside, there is a "she shed" or hobby room, built on permanent foundation, offering additional space. This home has so much to offer and is sure to sell quick.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Sugar Hill Elementary School Primary Regular 556 20 4
Vista Heights Middle School Middle Regular 1,414 51 5
Canyon Springs High School High Regular 2,488 96 5

Sugar Hill Elementary School

  • Education Level: Primary
  • # of students: 556
  • # of teachers: 20
4
GreatSchools Rating

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
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,623
Property Tax -$444
Property Insurance -$76
HOA -$108
Property Management Fees -$123
CASH FLOW
-$294

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.

$440,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.47%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,0953$2,2504$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 23749 Hazelwood Drive Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.04
    •  
  • 10162 Coral Lane Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,071 Sqft ∙ Built 2002
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.01
    •  
  • 10957 Grass Valley Circle Moreno Valley, CA 3
    • 5 beds 3 baths ∙ 2,193 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,193 Sqft ∙ Built 1987
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.03
    •  
  • 11041 Rocky Ridge Road Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1993
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
  • 10871 Mendoza Road Moreno Valley, CA 5
    • 5 beds 3 baths ∙ 2,179 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,179 Sqft ∙ Built 1988
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Christopher Leeper
Coldwell Banker Town & Country
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20239371
Last Updated: 11/19/2020
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