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 1988
- Price/Sqft : $227.84
- 3 Days on Market
- MLS # : IG20260013
- Updated Date : 12/18/2020 at 14:15
CONSTRUCTION
- Beds : 3
- Floor Size : 1,602 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
This wonderful cul-de-sac home is move-in ready. As you enter the home in a dedicated entryway, you’re greeted with an open floor plan, tall ceilings in a sunken formal living room. As you walk through the dining space you are greeted by a floor to ceiling trendy wood plank wall. It’s gorgeous! The eat in kitchen is at the rear of the home with backyard views from a large picture frame window over the sink. The kitchen was upgraded to include raised panel cabinetry, stainless steel appliances and solid surface countertops. The kitchen and eat in dining space open up to the family room that has a gas starting white wash brick fireplace and sliding glass door access to your covered patio. In all of these common areas, the large windows allow natural light pour into the home. The master bedroom includes a sliding glass door to your private backyard and spacious enough for large furniture. The master bathroom boasts dual sinks, a wood grain ceramic tile wall and new mirrors. One of the secondary bedrooms is used as a nursery with a beautiful feature wall painted a rich blue with falling stars. All of this and the home also has RV access, a new HVAC system, dual pane windows, quick access to the freeway and local schools within walking distance.
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 | $2,020 |
| EXPENSES | Loan Payment | -$1,347 |
| Property Tax | -$374 | |
| Property Insurance | -$66 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$115
|
||
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.
$365,000
PROJECTED PRICE
$2,020
PROJECTED RENT
0.55%
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
$102,475
LOAN DETAILS
$1,347
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
7.42
YEARS SAVED
$39,839
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,020
LIST RENT -
$1.26
LIST RENT PER SQFT
-
$1,834
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
-
26419 Bodega Court Moreno Valley, CA 3
- 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988
![property image]()
- Rent
- Rent Per SQFT
- $2,020
- $1.26
-
12909 Barbazon Drive Moreno Valley, CA 1
- 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 1991
![property image]()
LEASED 04/23/20- Rent
- Rent Per SQFT
- $1,870
- $1.18
-
12683 Ninebark Street Moreno Valley, CA 2
- 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1986
![property image]()
LEASED 09/03/19- Rent
- Rent Per SQFT
- $2,000
- $1.11
PROPERTY LISTING DETAILS
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20260013
Last Updated: 12/18/2020
