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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $180.12
- 4 Days on Market
- MLS # : IV20254322
- Updated Date : 12/11/2020 at 09:42
CONSTRUCTION
- Beds : 4
- Floor Size : 2,359 sqft
- Baths : 3 full
Listing Agent
Camden Mckay Realty
Listing Agent's Description
Turnkey 4bdr 3bth One story home in Moreno Valley. This home offers an open floor plan with high ceilings throughout and a plentitude of natural light. The front landscaping was completely redone as a low maintenance desert landscape with cement curbing. You enter the home through the double doors and into the formal living room. The flooring in the formal living room, family room, dining room, and hallway has been upgraded to engineered hard wood. The architecture seemed to be ahead of it's time, with the creation of the great room adjacent to the kitchen. There is beautiful crown molding in the formal living room, great room, kitchen, and the family room has surround sound speakers in the ceiling. The kitchen has granite counter tops and plenty of storage space. The sellers have installed a reverse osmosis water filtration system in the kitchen. Newer LED lighting throughout. The primary bedroom is open with vaulted ceilings. The primary bath has separate tub and shower enclosure. The walk in closet is very ample in size. The 3 other secondary bedrooms are very spacious. There are two bedrooms sharing a jack and jill bathroom and the other secondary bedroom is adjacent to the full hall bathroom. The backyard has been designed for easy maintenance, but there is plenty of space to build your own backyard paradise with an in ground pool and spa. The home offers RV parking and a 3 car garage. This home is eagerly awaiting its new owners!
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MARKET HIGHLIGHTS
- 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)
- 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)
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 | $2,270 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$435 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$134 | |
|
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.
$424,910
PROJECTED PRICE
$2,270
PROJECTED RENT
0.53%
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
$118,351
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,228 |
| Loan Amount | $318,683 |
6.33
YEARS SAVED
$36,696
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$0.96
LIST RENT PER SQFT
-
$2,276
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
26450 Helene Drive Moreno Valley, CA 2
- 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2002
![property image]()
- Rent
- Rent Per SQFT
- $2,270
- $0.96
-
12231 Mary Lee Way Moreno Valley, CA 1
- 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 1989
![property image]()
LEASED 01/15/20- Rent
- Rent Per SQFT
- $1,995
- $0.93
-
26419 Olympus Court Moreno Valley, CA 3
- 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2004
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,300
- $0.91
-
25932 Andre Court Moreno Valley, CA 4
- 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1991
![property image]()
LEASED 08/10/20- Rent
- Rent Per SQFT
- $2,450
- $1.06
-
12720 Lasselle Street Moreno Valley, CA 5
- 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2003
![property image]()
LEASED 07/31/20- Rent
- Rent Per SQFT
- $2,480
- $0.96
PROPERTY LISTING DETAILS
Camden Mckay Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20254322
Last Updated: 12/11/2020
