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24302 Barley Road Moreno Valley, CA 92557

3 Beds 2 Baths 1,667 sqft Built 1986

INVESTimate

$395,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$431,064  ( +9.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $236.95
  • 5 Days on Market
  • MLS # : IV20169846
  • Updated Date : 08/24/2020 at 08:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,667 sqft
  • Baths : 2 full
Listing Agent

Movoto, Inc.

Listing Agent's Description

Single story Sunnymead Ranch home! This home features laminate flooring throughout, and tile flooring in the kitchen, with an open floorplan. The kitchen has been completely upgraded with beautiful cabinets, granite counters, a high backsplash, and an oversized kitchen island, with stainless appliances, and a stainless steel undermount sink. The dining room has additional cabinets and more granite counters. The living room has a fireplace area with a ceiling fan. Each of the bedrooms are ample sized, all the bedrooms also have ceiling fans. The master bedroom has plenty of closet space, with additional cabinets above the closets. The master bathroom has an upgraded vanity with a granite countertop with dual sinks, and additional storage space next to the vanity. There is an indoor laundry area that leads to the three car garage. The backyard has a good sized backyard. HOA amenities include a lake with fishing, paddle boats, a club house, a pool and space, a gym, sport courts, a BBQ area, and a playground. Other pluses include low property taxes. This home is located in close proximity to the 60 freeway, and plenty of dining options. Make this great home yours today!

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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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,457
Property Tax -$390
Property Insurance -$68
HOA -$108
Property Management Fees -$110
CASH FLOW
-$263

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.

$395,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.13%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,913

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8003$1,8704$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 24302 Barley Road Moreno Valley, 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.12
    •  
  • 24608 Wild Calla Drive Moreno Valley, 1
    • 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, 2
    • 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
    •  
  • 24442 Robinwood Drive Moreno Valley, 4
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1987
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.16
    •  
  • 10491 Sagecrest Drive Moreno Valley, 5
    • 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,786 Sqft ∙ Built 1987
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sergio Salazar
Movoto, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20169846
Last Updated: 08/24/2020
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