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23831 Blue Ridge Place Moreno Valley, CA 92557

3 Beds 2 Baths 1,485 sqft Built 1988

$399,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $269.29
  • 4 Days on Market
  • MLS # : IV21061816
  • Updated Date : 03/25/2021 at 14:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Windermere R.e. Tower Prop.

Listing Agent's Description

This charming 3 bed, 2 bath home is located in the desirable Sunnymead Ranch Community; enjoy access to the Club House, pool, lake, fishing, tennis courts, and much more! When you enter, you're greeted to an open floor plan with neutral color tones, wood laminate and tile flooring, updated light fixtures, a cozy fireplace, and tons of natural light. Head into the delightful kitchen which has plenty of cabinet and counter space. The master bedroom is a comfortable and pleasant place to relax, The master bath has his and her sinks making it easier to get ready in the morning. Each additional bedroom is of ample size, and the hall bathroom has been updated with a newer vanity, mirror and light fixture. The sizable backyard has space for the kids and pets to play, space to entertain, and have BBQ's; with your creative touch, it has endless possibilities. Don't let this home slip by you, make an offer today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,389
Property Tax -$401
Property Insurance -$63
HOA -$108
Property Management Fees -$106
CASH FLOW
-$276

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.

$399,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.45%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7003$1,7754$1,7905$1,800
$1,800
RENT COMPS ANALYSIS
  • 23831 Blue Ridge Place Moreno Valley, CA 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.21
    •  
  • 11369 Weinhart Court Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,309 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,309 Sqft ∙ Built 1987
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 23725 Parkland Ave Moreno Valley, CA 2
    • 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986 3 beds 4 baths ∙ 1,474 Sqft ∙ Built 1986
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.15
    •  
  • 24608 Wild Calla Drive Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.21
    •  
  • 11221 Fernview Place Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.13
    •  
PROPERTY LISTING DETAILS
Gabriela Hanson
Windermere R.e. Tower Prop.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21061816
Last Updated: 03/25/2021
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