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24716 Qualton Court Moreno Valley, CA 92553

5 Beds 3 Baths 1,712 sqft Built 1986

$408,777

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $238.77
  • 4 Days on Market
  • MLS # : IV21057263
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,712 sqft
  • Baths : 3 full
Listing Agent

Welcome Realty & Investment Groups Inc.

Listing Agent's Description

This is the one home that everybody is looking for!!!! Nice and very well Maintained Home located on a Culdesac st. for very low traffic ,to get in and out of the property, close to major arteries like the 60 and 215, shopping centers and grocery stores, the neighborhood is very clean and quiet with a very friendly atmosphere: the home features 2 beautiful and big bedrooms with brand new carpet, downstairs with a full bathroom and granite countertops, bathtub and shower for more convenience(permits unknown), Living room with brand new tile flooring and a very nice bay window, kitchen with granite countertops and backsplash, stainless steel appliances, berber carpet on the stairs with a custom wrought iron and wood handrail,3 bedrooms upstairs with, brand new carpet, 2 full bathrooms with granite countertops and showers, tile flooring, Cathedral ceilings with skylights. Big backyard located on a corner lo, Cathedral Ceilings ,NO HOA ,LOW TAXES, This home has been very well maintained. Come and look at, it you won't be disappointed , Sincerely, this home we can call it, pride of ownership.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Ramona Elementary School Primary Regular 802 27 3
Sunnymead Middle School Middle Regular 1,490 74 2
Moreno Valley High School High Regular 2,350 87 3

Ramona Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 27
3
GreatSchools Rating

Sunnymead Middle School

  • Education Level: Middle
  • # of students: 1,490
  • # of teachers: 74
2
GreatSchools Rating

Moreno Valley High School

  • Education Level: High
  • # of students: 2,350
  • # of teachers: 87
3
GreatSchools Rating
 

$367,899$449,655$408,777

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,420
Property Tax -$418
Property Insurance -$69
Property Management Fees -$114
CASH FLOW
-$81

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.

$408,777

PROJECTED PRICE

$1,940

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$114,076

INVESTMENT

$114,076

Down Payment
$102,194
Rehab Estimate
$5,750
Closing Costs
$6,132

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,194
Loan Amount $306,583
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,475

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9403$1,9504$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 24716 Qualton Court Moreno Valley, CA 2
    • 5 beds 3 baths ∙ 1,712 Sqft ∙ Built 1986 5 beds 3 baths ∙ 1,712 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.13
    •  
  • 13448 Reindeer Street Moreno Valley, CA 1
    • 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 1981
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 14522 Parkwood Court Moreno Valley, CA 3
    • 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,608 Sqft ∙ Built 1986
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.21
    •  
  • 12221 Cocopah Court Moreno Valley, CA 4
    • 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1989 5 beds 2 baths ∙ 1,905 Sqft ∙ Built 1989
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.21
    •  
  • 12580 Lasselle Street Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 2003
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.20
    •  
PROPERTY LISTING DETAILS
Peter Reyes
Welcome Realty & Investment Groups Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21057263
Last Updated: 03/20/2021
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