Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $260.32
- 3 Days on Market
- MLS # : IV21058382
- Updated Date : 03/20/2021 at 10:52
CONSTRUCTION
- Beds : 4
- Floor Size : 1,648 sqft
- Baths : 3 full
Listing Agent
Shepherd Realty Group
Listing Agent's Description
Moreno Valley Ranch Lake View home! Look no further! This home has tiled entry way. Dining room has custom tile flooring and windows that boast a view of the Lake. Kitchen has solid wood cabinets, custom tile flooring, recessed lighting, new subway tile, quartz counter tops, confection oven, microwave, new dishwasher, breakfast bar, motion activated faucet and upgraded sink. The family room has a brick fireplace, ceiling fan and tile flooring. Enjoy the view of the lake from the kitchen, dining room or den. There is a 54 ft. Trex deck perfect for barbeques or just hanging out with friends. The lower level has a Gazebo; perfect spot to unwind and enjoy the city lights and lake view. Addt'l area currently being used as kids playground! Several fruit trees and Palms. A bedroom w/double door entry, mirrored closet doors and ceiling fan, the laundry room, and a full bath is also located downstairs. Newly installed wood tread stairs with decorative tile fronts and wrought iron/wood railing. Upstairs bedroom has wainscoting, laminate flooring and ceiling fan, 2nd bedroom has carpet/ceiling fan. The newly upgraded hall bathroom has upgraded tile with a bowl sink. The Master bedroom has bamboo flooring, built in window seat, barnyard closet doors, newly remodeled walk-in shower, dual sinks & tile flooring! New paint in/out, new a/c & Heating. You will also have access to the Association club house, gym, swimming, playground, biking, fishing & water sports! More pictures on 3/20.
SEE MORE
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 | $1,890 |
| EXPENSES | Loan Payment | -$1,490 |
| Property Tax | -$504 | |
| Property Insurance | -$67 | |
| HOA | -$47 | |
| Property Management Fees | -$112 | |
|
CASH FLOW
-$330
|
||
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.
$429,000
PROJECTED PRICE
$1,890
PROJECTED RENT
0.44%
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
$119,435
LOAN DETAILS
$1,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,250 |
| Loan Amount | $321,750 |
1.5
YEARS SAVED
$3,570
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,838
COMP ESTIMATED VALUE -
$1.12
COMP AVG. RENT PER SQFT
Comps Range
-
25743 La Salina Place Moreno Valley, CA 4
- 4 beds 3 baths ∙ 1,648 Sqft ∙ Built 1994 4 beds 3 baths ∙ 1,648 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,890
- $1.15
-
16490 Heather Glen Road Moreno Valley, CA 1
- 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 2
- 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
-
26043 Pinto Court Moreno Valley, CA 3
- 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2005
LEASED 05/14/20- Rent
- Rent Per SQFT
- $1,850
- $1.09
-
26541 Thoroughbred Lane Moreno Valley, CA 5
- 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2003
LEASED 05/25/20- Rent
- Rent Per SQFT
- $2,100
- $1.18
PROPERTY LISTING DETAILS
Shepherd Realty Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21058382
Last Updated: 03/20/2021
