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24761 Candlenut Court Moreno Valley, CA 92557

4 Beds 3 Baths 2,004 sqft Built 1988

$449,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $224.50
  • 3 Days on Market
  • MLS # : IV21009894
  • Updated Date : 01/15/2021 at 18:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,004 sqft
  • Baths : 3 full
Listing Agent

L & L Realtors

Listing Agent's Description

Gorgeous Sunnymead Ranch home! This 2004 square foot, 4 bedroom, 3 bath, cul-de-sac home won’t last long! The kitchen and entire downstairs have been completely remodeled. Enjoy cooking in the gorgeous kitchen with custom handmade all wood cabinets with roll out drawers, an extended pantry, granite countertops, tile floor and beautiful molding. Updated indoor laundry room, new carpet in living room, family room, all bedrooms and stairs. All windows and sliding glass doors have been replaced with Energy Star windows, rebuilt master balcony with full length cover and railing, solid Alumawood patio cover, and solar panels add to the appeal of the must see home!! Enjoy staring at the city lights from the fabulous view that can be seen from the back yard or master bedroom balcony.

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
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
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,563
Property Tax -$444
Property Insurance -$76
HOA -$108
Property Management Fees -$123
CASH FLOW
-$224

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.

$449,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.46%

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-$5.0k$0.0$5.0k$10k

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$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,094

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8503$1,9504$2,0905$2,300
$2,300
RENT COMPS ANALYSIS
  • 24761 Candlenut Court Moreno Valley, CA 4
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.04
    •  
  • 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
    •  
  • 23968 Lone Pine Drive Moreno Valley, CA 2
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 1989
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 10491 Sagecrest Drive Moreno Valley, CA 3
    • 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
    •  
  • 23888 Lone Pine Drive Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 1989
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
PROPERTY LISTING DETAILS
Raul Lopez
L & L Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21009894
Last Updated: 01/15/2021
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