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

24295 Fitz Street Moreno Valley, CA 92551

3 Beds 2 Baths 1,064 sqft Built 1986

$345,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $324.25
  • 8 Days on Market
  • MLS # : IV21058153
  • Updated Date : 03/27/2021 at 18:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,064 sqft
  • Baths : 2 full
Listing Agent

Trust Properties Usa, Inc

Listing Agent's Description

Bright and open remodeled home in a great community! 3bedroom, 2 bath. Freshly painted, and new flooring installed. Large living room with a fireplace. Kitchen has been refreshed with white cabinets, new stove and dishwasher included. Large size backyard for the family and entertaining guests. Located near shopping, freeway access, and more!

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
Rainbow Ridge Elementary School Primary Regular 818 33 5
March Middle School Middle Regular 777 32 3
Citrus Hill High School High Regular 2,370 90 5

Rainbow Ridge Elementary School

  • Education Level: Primary
  • # of students: 818
  • # of teachers: 33
5
GreatSchools Rating

March Middle School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 32
3
GreatSchools Rating

Citrus Hill High School

  • Education Level: High
  • # of students: 2,370
  • # of teachers: 90
5
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,198
Property Tax -$349
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$259

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.

$345,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,6253$1,700
$1,700
RENT COMPS ANALYSIS
  • 24295 Fitz Street Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.35
    •  
  • 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
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.27
    •  
  • 24330 Saint James Drive Moreno Valley, CA 3
    • 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1976
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.32
    •  
PROPERTY LISTING DETAILS
Veronica Foster
Trust Properties Usa, Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21058153
Last Updated: 03/27/2021
BESbswy