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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $247.25
- 6 Days on Market
- MLS # : OC21148569
- Updated Date : 07/09/2021 at 14:24
CONSTRUCTION
- Beds : 4
- Floor Size : 1,816 sqft
- Baths : 3 full
Listing Agent
First Choice Investments
Listing Agent's Description
Move in ready four bedroom home! This Gorgeous home is located in the Moreno Valley Ranch HOA community and is ready to move in. Home has a beautiful entry way with mature landscape, vaulted ceiling living room, along with a separate family room and open kitchen concept. Downstairs bedroom with full bath and downstairs laundry separate laundry room; large master bedroom upstairs along with other spacious bedrooms. The kitchen has on open concept with lots of cabinetry and space for the Chef in you! Community amenities include: pool area/ lake access/ picnic and sports courts as well as park like setting for your everyday enjoyment. Low HOA and Low taxes.
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MARKET HIGHLIGHTS
- 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.
- 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)
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 | $2,300 |
EXPENSES | Loan Payment | -$1,560 |
Property Tax | -$527 | |
Property Insurance | -$71 | |
HOA | -$55 | |
Property Management Fees | -$136 | |
CASH FLOW
-$49
|
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.
$449,000
PROJECTED PRICE
$2,300
PROJECTED RENT
0.51%
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
$124,735
LOAN DETAILS
$1,560
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 3.75% |
Down Payment | $112,250 |
Loan Amount | $336,750 |
4.58
YEARS SAVED
$21,353
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,300
LIST RENT -
$1.27
LIST RENT PER SQFT
-
$2,270
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
First Choice Investments
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21148569
Last Updated: 07/09/2021