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26391 Thoroughbred Lane Moreno Valley, CA 92555

4 Beds 3 Baths 1,994 sqft Built 2003

$400,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $200.60
  • 3 Days on Market
  • MLS # : SW21000177
  • Updated Date : 01/02/2021 at 10:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,994 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Assoc.brks-cl

Listing Agent's Description

Beautiful 4 bedroom 3 bath home with open family kitchen with breakfast island countertop. Nice corner lot with only 1 neighbor. HOA is currently $47 and includes the rights to fish from shore or boat, Pool/Spa, exercise room, park (ALL fenced in with manned security guards for the amenities) Solar on home is leased and is $115 per month (typically much less expensive than the electric company). Landscaped yards, front porch, block wall on 2 sides of backyard, wood separates neighbors yard. Shopping close and nicely placed near freeways, college and more! Downstairs has a bedroom and full bath, other 3 bedrooms are upstairs. Enter home in to a formal living room with 2 story high ceilings. Down the hall way takes you to the family room with gas fireplace that turns on with a flick of a switch. Kitchen is open to the living room and has direct access to garage. Upstairs opens to a loft and offers another 3 bedrooms. Primary bedroom has the grand 2 door entry with larger bathroom and walk-in closet! UPSTAIRS separate laundry room gives the ease of not carrying laundry from floor to floor. Ceiling fans throughout. Backyard has a concrete back patio and is perfect for planning your future BBQ's. Appointment only and must follow COVID guidelines.

SEE MORE

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

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
Victoriano Elementary School Primary Regular 735 26 7
Vista Verde Middle School Middle Regular 932 39 4
Rancho Verde High School High Regular 3,262 122 5

Victoriano Elementary School

  • Education Level: Primary
  • # of students: 735
  • # of teachers: 26
7
GreatSchools Rating

Vista Verde Middle School

  • Education Level: Middle
  • # of students: 932
  • # of teachers: 39
4
GreatSchools Rating

Rancho Verde High School

  • Education Level: High
  • # of students: 3,262
  • # of teachers: 122
5
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,476
Property Tax -$470
Property Insurance -$75
HOA -$47
Property Management Fees -$130
CASH FLOW
$11

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.

$400,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.55%

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,029

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9753$1,9954$2,0005$2,210
$2,210
RENT COMPS ANALYSIS
  • 26391 Thoroughbred Lane Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $1.11
    •  
  • 16430 Zocalo Place Moreno Valley, CA 1
    • 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
    •  
  • 16410 Zocalo Place Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,901 Sqft ∙ Built 1996
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.04
    •  
  • 15539 Firerock Lane Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,994 Sqft ∙ Built 2003
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.00
    •  
  • 26836 Calle Vejar Moreno Valley, CA 4
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 2004
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kathleen West
Coldwell Banker Assoc.brks-cl
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW21000177
Last Updated: 01/02/2021
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