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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $145.53
- 3 Days on Market
- MLS # : IV21035131
- Updated Date : 02/19/2021 at 13:49
CONSTRUCTION
- Beds : 4
- Floor Size : 2,954 sqft
- Baths : 3 full
Listing Agent
Guardian Realty
Listing Agent's Description
FREE Solar panels (seller will pay off panels at close of escrow). Newer house with four bedrooms and three bathrooms that's close to almost everything you need in life: Kaiser Permanente Hospital and Moreno Valley College Riverside University Health System, Lasselle Parks and Sports Complex, Banks, Restaurants, Schools and Grocery and all sorts of Stores and a few miles drive to the Improved Lake Perris. This home needs a little TLC but the interior has a nice layout to it and very much worth your visit. Check it out....
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Lasselle
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lasselle
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,460 |
| EXPENSES | Loan Payment | -$1,493 |
| Property Tax | -$529 | |
| Property Insurance | -$99 | |
| HOA | -$25 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
$169
|
||
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.
$429,900
PROJECTED PRICE
$2,460
PROJECTED RENT
0.57%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 10.2% |
| 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
$119,674
LOAN DETAILS
$1,493
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,475 |
| Loan Amount | $322,425 |
7.5
YEARS SAVED
$40,740
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,460
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$2,718
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
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- 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,954 Sqft ∙ Built 2004
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- Rent
- Rent Per SQFT
- $2,460
- $0.83
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26250 Stallion Road Moreno Valley, CA 1
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LEASED 02/20/20- Rent
- Rent Per SQFT
- $2,450
- $0.94
-
26245 Unbridled Circle Moreno Valley, CA 3
- 3 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,778 Sqft ∙ Built 2005
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LEASED 09/17/20- Rent
- Rent Per SQFT
- $2,500
- $0.90
-
25976 Calle Ensenada Moreno Valley, CA 4
- 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2005
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LEASED 06/30/20- Rent
- Rent Per SQFT
- $2,950
- $0.92
PROPERTY LISTING DETAILS
Guardian Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21035131
Last Updated: 02/19/2021
