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24827 Chippendale Street Moreno Valley, CA 92553

4 Beds 2 Baths 1,512 sqft Built 1984

INVESTimate

$395,000

List Price

$1,680

$1,512 - $1,848

Rent Est.

$431,064  ( +9.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $261.24
  • 7 Days on Market
  • MLS # : IG20170419
  • Updated Date : 08/21/2020 at 15:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Pinpoint Realtors

Listing Agent's Description

Welcome Home! To this charming single family residence. You have found the one! This beautiful single story home has so much to offer, including 1,512 square feet of living space, 4 bedrooms, 2 bath and a studio. Beautiful large lot, perfect for summer entertainment. Home has new exterior paint, granite counter tops, newly remodel master bathroom, new windows, new fence and tile and wood flooring throughout the home. New solar panels, New HVAC system and fiber optic attic insulation. Close to 215 freeway and shopping centers for your convenience. Enjoy all that this desirable family friendly neighborhood has to offer. Move in ready! Priced to sell, this beautiful home will not last very long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Chaparral Hills Elementary School Primary Regular 769 28 2
Badger Springs Middle School Middle Regular 1,147 56 1
Vista Del Lago High School High Regular 2,189 87 4

Chaparral Hills Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 28
2
GreatSchools Rating

Badger Springs Middle School

  • Education Level: Middle
  • # of students: 1,147
  • # of teachers: 56
1
GreatSchools Rating

Vista Del Lago High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 87
4
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,457
Property Tax -$404
Property Insurance -$64
Property Management Fees -$99
CASH FLOW
-$345

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.

$395,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.13%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,803

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7004$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 24827 Chippendale Street Moreno Valley, 1
    • 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.11
    •  
  • 14813 Briana Street Moreno Valley, 2
    • 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,417 Sqft ∙ Built 1985
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.20
    •  
  • 13688 Pecan Place Moreno Valley, 3
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1979
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 14537 Cholla Drive Moreno Valley, 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 14522 Parkwood Court Moreno Valley, 5
    • 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
    •  
PROPERTY LISTING DETAILS
Claudia Orozco
Pinpoint Realtors
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20170419
Last Updated: 08/21/2020
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