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PROPERTY INFO
FACTS
- Single Family
- Built In 1999
- Price/Sqft : $240.55
- 4 Days on Market
- MLS # : IG20246593
- Updated Date : 11/26/2020 at 21:44
CONSTRUCTION
- Beds : 3
- Floor Size : 1,704 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Residential
Listing Agent's Description
THAT POOL THOUGH! Fabulous single level pool home with amazing curb appeal! This is cul-de-sac heaven in a fantastic neighborhood so close to just about everything. This home has 3 bedrooms, 2 full bathrooms, and you’ll love having an open floor plan and high ceilings throughout! The kitchen comes equipped with an Alkaline water filter. Lower your electric bill with the added benefit of getting to own your solar panel system! A luxurious pool and spa paradise awaits you in the spacious backyard surrounded with a newer vinyl fencing. Enjoy a grilled feast from your built-in barbecue and gather around the fireplace for s’mores. Take a stroll down Iris Ave to your community lake! There’s great shopping and dining close by at the Lakeside Plaza and Moreno Valley College is practically down the street. Don’t forget about all the amenities of the highly desirable Moreno Valley Ranch Association encompassing a 35-acre lake, large recreation center, fitness centers, sport courts, community pool, and both private and public parks within the community with a very low HOA fee. Don’t wait, schedule a viewing today!
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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 | $1,780 |
| EXPENSES | Loan Payment | -$1,512 |
| Property Tax | -$438 | |
| Property Insurance | -$68 | |
| HOA | -$47 | |
| Property Management Fees | -$105 | |
|
CASH FLOW
-$391
|
||
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.
$409,900
PROJECTED PRICE
$1,780
PROJECTED RENT
0.43%
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
$114,374
LOAN DETAILS
$1,512
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $102,475 |
| Loan Amount | $307,425 |
1.17
YEARS SAVED
$2,433
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$1.04
LIST RENT PER SQFT
-
$1,811
COMP ESTIMATED VALUE -
$1.06
COMP AVG. RENT PER SQFT
Comps Range
-
25527 Hondo Barranca Moreno Valley, CA 2
- 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1999
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- Rent Per SQFT
- $1,780
- $1.04
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25113 Red Maple Lane Moreno Valley, CA 1
- 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1988
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,750
- $1.02
-
16490 Heather Glen Road Moreno Valley, CA 3
- 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,711 Sqft ∙ Built 1989
LEASED 03/24/20- Rent
- Rent Per SQFT
- $1,795
- $1.05
-
15605 Lasselle Street Moreno Valley, CA 4
- 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 2007
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,825
- $1.14
-
16430 Zocalo Place Moreno Valley, CA 5
- 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996
LEASED 04/15/20- Rent
- Rent Per SQFT
- $1,975
- $1.04
PROPERTY LISTING DETAILS
Coldwell Banker Residential
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20246593
Last Updated: 11/26/2020
