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24171 Poppystone Drive Moreno Valley, CA 92551

3 Beds 3 Baths 1,403 sqft Built 1988

$299,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $213.11
  • 11 Days on Market
  • MLS # : WS21011554
  • Updated Date : 01/25/2021 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,403 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remax My Home

Listing Agent's Description

Great investment property in the City of Moreno Valley. 3 bedrooms with 2.5 bathrooms, 1403sqft, attached 2-car garage. Close to shopping, schools and freeways.

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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
Serrano Elementary School Primary Regular 623 22 2
Badger Springs Middle School Middle Regular 1,147 56 1
Vista Del Lago High School High Regular 2,189 87 4

Serrano Elementary School

  • Education Level: Primary
  • # of students: 623
  • # of teachers: 22
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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,039
Property Tax -$315
Property Insurance -$61
Property Management Fees -$99
CASH FLOW
$166

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.

$299,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.56%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$34,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6803$1,6954$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 24171 Poppystone Drive Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,403 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.20
    •  
  • 14937 Silvertree Road Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1984
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.27
    •  
  • 14813 Briana Street Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 24807 Gatewood Street Moreno Valley, CA 4
    • 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,644 Sqft ∙ Built 1998
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
  • 14522 Parkwood Court Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
PROPERTY LISTING DETAILS
Ken Huynh
Remax My Home
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21011554
Last Updated: 01/25/2021
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