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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $185.36
- 3 Days on Market
- MLS # : IV20245483
- Updated Date : 11/27/2020 at 13:40
CONSTRUCTION
- Beds : 5
- Floor Size : 2,589 sqft
- Baths : 3 full , 1 half
Listing Agent
Cal State Realty Services
Listing Agent's Description
This beautiful 5 bedroom 3 bath Ranch style home on a large lot is located in the highly sought after area of Sunnymead Ranch. This home features beautiful landscaping, hardscaping in the front and back of the property with a 3 car garage. This one story floor plan is one of the nicest in all of Moreno Valley. These homes do not come up for sale often. The kitchen has stainless steal appliances. The home has ceiling fans in all the bedrooms. The windows have shutters and vertical blinds. The sliding doors are all new. The AC is very high end. SUNNYMEAD RANCH AMENITIES. Tennis Courts, Horse Shoe Pit, Two Basketball Courts and Several Baskets, Three Parks, Picnic Areas, Volley Ball, Walking Areas, Flowered Veteran Garden, Free Fishing and Stocking, Free Boating, RV Storage, Small Boat Storage by Our Boat House, Swimming Pool, Hot Jacuzzi, Pool Showers, Free Lockers at tennis court, Free Lockers at Swimming Pool, Small Weight Room, TV Room, Study Area in Club House, Kids Play Ground, Swing Set area, Free Kitchen, Veranda To Sat and Relax, Dining Area By Pool Deck, etc.
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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
* 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 | $2,570 |
| EXPENSES | Loan Payment | -$1,771 |
| Property Tax | -$474 | |
| Property Insurance | -$90 | |
| HOA | -$108 | |
| Property Management Fees | -$152 | |
|
CASH FLOW
-$24
|
||
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.
$479,900
PROJECTED PRICE
$2,570
PROJECTED RENT
0.54%
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
$132,924
LOAN DETAILS
$1,771
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $119,975 |
| Loan Amount | $359,925 |
5.33
YEARS SAVED
$31,924
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$2,531
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
24816 Covey Road Moreno Valley, CA 4
- 5 beds 4 baths ∙ 2,589 Sqft ∙ Built 1988 5 beds 4 baths ∙ 2,589 Sqft ∙ Built 1988
![property image]()
- Rent
- Rent Per SQFT
- $2,570
- $0.99
-
23620 Tarara Drive Moreno Valley, CA 1
- 5 beds 3 baths ∙ 2,286 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,286 Sqft ∙ Built 1988
![property image]()
LEASED 05/30/19- Rent
- Rent Per SQFT
- $2,195
- $0.96
-
25173 Bronze Drive Moreno Valley, CA 2
- 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2002
![property image]()
LEASED 10/07/19- Rent
- Rent Per SQFT
- $2,200
- $0.95
-
10136 Beachcomber Street Moreno Valley, CA 3
- 5 beds 3 baths ∙ 2,696 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,696 Sqft ∙ Built 2002
![property image]()
LEASED 07/12/19- Rent
- Rent Per SQFT
- $2,400
- $0.89
-
24221 Barley Rd. Moreno Valley, CA 5
- 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,528 Sqft ∙ Built 1986
![property image]()
LEASED 11/20/20- Rent
- Rent Per SQFT
- $2,800
- $1.11
PROPERTY LISTING DETAILS
Cal State Realty Services
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20245483
Last Updated: 11/27/2020
