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24353 Saint Thomas Avenue Moreno Valley, CA 92551

4 Beds 3 Baths 2,219 sqft Built 1987

$449,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $202.79
  • 5 Days on Market
  • MLS # : PW21038584
  • Updated Date : 02/24/2021 at 17:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,219 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

Amazing 2-Story 4-Bedrooms and 3-Bathroom Layout Home with a Bright and Open Floor Plan. Newer Kitchen has Tiled Countertops, Tile Flooring Stainless Steel Appliances and Lot's of Cabinets for Extra Storage Space. Perfect for Entertaining as it Opens into the Formal Dining Room. The Family Room Features a Cozy Fireplace, Crown Molding and French Doors that give you access into the beautiful Backyard. Flat Backyard with an all around Block Wall, Perfect for Privacy. As you Walk Up the Beautiful and Large Stairway you will see Three Large Sized Bedrooms. The Master Bedroom Has a Huge Walk-In Closet. The Other Two-Bedrooms Upstairs Have a Jack & Jill Full Bathroom. Large Formal Living Room with Lots of Natural Light. Enjoy and Afternoon of Reading, Drinking Tea or Just Hanging Out with the Family. Three-Car Garage for Plenty of Parking and Toys. Double Pane windows and much much more. Please Note that the 4th-Bedroom is Currently being used as an Extension to the Family Room.

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
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
 

$404,999$494,999$449,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,563
Property Tax -$453
Property Insurance -$81
Property Management Fees -$136
CASH FLOW
$67

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.

$449,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,499
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$33,579

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,2953$2,3004$2,350
$2,350
RENT COMPS ANALYSIS
  • 24353 Saint Thomas Avenue Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 16430 Zocalo Place Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.04
    •  
  • 25961 Soaring Seagull Lane Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 2005
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.99
    •  
  • 26232 Shetland Lane Moreno Valley, CA 4
    • 5 beds 3 baths ∙ 2,145 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,145 Sqft ∙ Built 2005
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
PROPERTY LISTING DETAILS
Maria Chacon
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21038584
Last Updated: 02/24/2021
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