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24017 Powell Place Moreno Valley, CA 92553

3 Beds 2 Baths 1,124 sqft Built 1979

$364,999

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $324.73
  • 4 Days on Market
  • MLS # : CV21018298
  • Updated Date : 01/28/2021 at 09:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,124 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Socal

Listing Agent's Description

This gorgeous home in the city Moreno Valley is Just Listed! This 3 bedroom -2 bath home offers a fresh vibe - a clean and spacious kitchen, a lovely living room with gray and white motif, and a huge front & backyard - all made perfect for you to relax. The home has been completely rehabbed: new roof, new HVAC, stunning white cabinets and quartz countertops throughout. Make this home yours now, call us 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
Chaparral Hills Elementary School Primary Regular 769 28 2
Badger Springs Middle School Middle Regular 1,147 56 1
Vista Del Lago High School High Regular 2,189 87 4

Chaparral Hills Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 28
2
GreatSchools Rating

Badger Springs Middle School

  • Education Level: Middle
  • # of students: 1,147
  • # of teachers: 56
1
GreatSchools Rating

Vista Del Lago High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 87
4
GreatSchools Rating
 

$328,499$401,499$364,999

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,268
Property Tax -$375
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$386

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.

$364,999

PROJECTED PRICE

$1,410

PROJECTED RENT

0.39%

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

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,749
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,422

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,6253$1,6504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 24017 Powell Place Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.25
    •  
  • 14937 Silvertree Road Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.27
    •  
  • 13686 Rundell Drive Moreno Valley, CA 3
    • 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
    •  
  • 24330 Saint James Drive Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1976
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.32
    •  
PROPERTY LISTING DETAILS
Darrel Gomez
Keller Williams Socal
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21018298
Last Updated: 01/28/2021
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