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24854 Freedom Court Moreno Valley, CA 92557

4 Beds 2 Baths 1,550 sqft Built 1986

$435,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $280.65
  • 4 Days on Market
  • MLS # : IV20251090
  • Updated Date : 12/03/2020 at 22:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,550 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Town & Country

Listing Agent's Description

BEST BUY in Town!!! Huge Lot, with RV Parking and a Basketball court in the rear yard. This home has pride of ownership with countless upgrades. Step into a tranquil courtyard to enjoy your morning coffee or relax your evenings away. This home is a must see and don't miss the opportunity to make this house your home.

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
Midland Elementary School Primary Regular 685 25 4
Palm Middle School Middle Regular 1,261 46 3
Canyon Springs High School High Regular 2,488 96 5

Midland Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 25
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
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,605
Property Tax -$445
Property Insurance -$65
Property Management Fees -$104
CASH FLOW
-$459

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.

$435,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.40%

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

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,604

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7603$1,7754$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 24854 Freedom Court Moreno Valley, CA 2
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.14
    •  
  • 24755 Moontide Lane Moreno Valley, CA 1
    • 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,389 Sqft ∙ Built 1981
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.19
    •  
  • 24608 Wild Calla Drive Moreno Valley, CA 3
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1986
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.21
    •  
  • 10570 Hill Grass Drive Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1988
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
  • 11221 Fernview Place Moreno Valley, CA 5
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 1978
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.13
    •  
PROPERTY LISTING DETAILS
Cynthia Tuggle
Coldwell Banker Town & Country
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20251090
Last Updated: 12/03/2020
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