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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $234.90
- 3 Days on Market
- MLS # : 21686022
- Updated Date : 02/20/2021 at 11:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,954 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Studio City
Listing Agent's Description
This turn key stunner has been completely rebuilt from the ground up in 2021 and sits on a quiet cul-de-sac. The home boasts a newly painted exterior and interior. New concrete tile roof. New dual pane windows throughout entire house. New HVAC system. New electrical panel and wiring. New luxury vinyl floors throughout down stairs and brand new carpet upstairs. The completely remodeled kitchen and bathrooms have all new quartz countertops, brand new appliances, new cabinets, all soft close drawers throughout the entire home. Master bedroom has a large walk-in closet with an attached master bath with dual sinks and a glorious marble like walk-in shower. Relax in the living room with a soaring cathedral ceiling or the intimate family room with the beautiful marble like gas fireplace. Stroll out onto your newly painted patio for outdoor dining in your private fenced backyard. A Nuvia Pro water softener/filtration system, and a three car garage with new garage doors and openers. Too many brand new things to list. Welcome to your new home!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Moreno Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Moreno Acres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,010 |
| EXPENSES | Loan Payment | -$1,594 |
| Property Tax | -$470 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$247
|
||
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.
$459,000
PROJECTED PRICE
$2,010
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 11.5% |
| 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
$127,385
LOAN DETAILS
$1,594
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $114,750 |
| Loan Amount | $344,250 |
2.5
YEARS SAVED
$9,157
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,010
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$2,174
COMP ESTIMATED VALUE -
$1.11
COMP AVG. RENT PER SQFT
Comps Range
-
24593 Skyrock Drive Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 1980
- Rent
- Rent Per SQFT
- $2,010
- $1.03
-
24824 Sunday Drive Moreno Valley, CA 1
- 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1986
LEASED 04/27/20- Rent
- Rent Per SQFT
- $1,775
- $0.97
-
24442 Robinwood Drive Moreno Valley, CA 2
- 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
-
23878 Swan Street Moreno Valley, CA 4
- 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,909 Sqft ∙ Built 1989
LEASED 11/20/20- Rent
- Rent Per SQFT
- $2,250
- $1.18
-
24575 Zuppardo Way Moreno Valley, CA 5
- 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,010 Sqft ∙ Built 1998
LEASED 02/08/21- Rent
- Rent Per SQFT
- $2,295
- $1.14
PROPERTY LISTING DETAILS
Keller Williams Studio City
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 21686022
Last Updated: 02/20/2021
