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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $319.55
- 6 Days on Market
- MLS # : PW21017281
- Updated Date : 01/26/2021 at 19:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,064 sqft
- Baths : 2 full
Listing Agent
Remax Unlimited R.e.
Listing Agent's Description
This "Home Sweet Home" is Bright and Airy, with Neutral colors. Invites you to Vaulted Ceilings in main living space and Master Bedroom. A nice Fireplace in the living room area for gatherings , nice A/C & Heating unit , Great quality Tesla solar panels ( On a Lease ). All Bathrooms have been updated too. Subject property is Centrally Located to retail shopping, schools, parks, dining and commuting to Fwy 60 and 215. Newly Painted areas of interior and exterior. A perfect starter home or investment!. The following appliances are included with the sale of this house: Refrigerator, stove, dishwasher, washer and dryer too ( Sold as - is and in it's present current condition no warranties are employed by sellers ).
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moreno Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,610 |
| EXPENSES | Loan Payment | -$1,181 |
| Property Tax | -$350 | |
| Property Insurance | -$53 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$73
|
||
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.
$340,000
PROJECTED PRICE
$1,610
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$95,850
LOAN DETAILS
$1,181
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $85,000 |
| Loan Amount | $255,000 |
4.33
YEARS SAVED
$14,241
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,610
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$1,369
COMP ESTIMATED VALUE -
$1.29
COMP AVG. RENT PER SQFT
Comps Range
-
24439 Tyann Court Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1983
- Rent
- Rent Per SQFT
- $1,610
- $1.51
-
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
-
13686 Rundell Drive Moreno Valley, CA 3
- 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,301 Sqft ∙ Built 1979
LEASED 11/04/19- Rent
- Rent Per SQFT
- $1,650
- $1.27
-
24330 Saint James Drive Moreno Valley, CA 4
- 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
Remax Unlimited R.e.
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21017281
Last Updated: 01/26/2021
