Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

24060 Orange Creek Circle Moreno Valley, CA 92557

4 Beds 3 Baths 2,220 sqft Built 1985

$484,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $218.42
  • 2 Days on Market
  • MLS # : PW21025213
  • Updated Date : 02/06/2021 at 09:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Olympia Real Estate

Listing Agent's Description

Great Location ! Property is in a Cul-De-Sac, located in the community of Sunnymead Ranch. This property has 4 Bed/2.5 Bath with a 3 Car garage, newer carpet and tile, formal living room with fire place, dining room, spacious family room with wet bar, Large kitchen with breakfast bar, recessed lighting, spiral staircase , master bedroom with a balcony, and a laundry room. Ranch amenities include: lake, club house, pool, spa, gym, tennis courts, paddle boats, play grounds and picnic area. No Mello roos.

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
Sugar Hill Elementary School Primary Regular 556 20 4
Palm Middle School Middle Regular 1,261 46 3
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

Palm Middle School

  • Education Level: Middle
  • # of students: 1,261
  • # of teachers: 46
3
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,488
  • # of teachers: 96
5
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,684
Property Tax -$478
Property Insurance -$81
HOA -$108
Property Management Fees -$129
CASH FLOW
-$300

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.

$484,900

PROJECTED PRICE

$2,180

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$1.4M$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1804$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 24060 Orange Creek Circle Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.98
    •  
  • 24039 Royale Street Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 1984
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 23797 Lone Pine Drive Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 10630 Silverleaf Circle Moreno Valley, CA 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Nicole Ochoa
Olympia Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21025213
Last Updated: 02/06/2021
BESbswy