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27393 Honey Scented Road Moreno Valley, CA 92555

4 Beds 4 Baths 2,821 sqft Built 2005

$469,900

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $166.57
  • 2 Days on Market
  • MLS # : IV21000463
  • Updated Date : 01/02/2021 at 12:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,821 sqft
  • Baths : 4 full
Listing Agent

Guy Patterson Realty Group

Listing Agent's Description

Coming Soon, built in 2005 this 4 Bedroom 4 Bath home at 2821 SF is expected to vacated at the end of January. Buyers are to verify all information on this property upon interior inspection. I will update as we make progress.

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
La Jolla Elementary School Primary Regular 842 30 3
Landmark Middle School Middle Regular 1,244 52 2
Vista Del Lago High School High Regular 2,189 87 4

La Jolla Elementary School

  • Education Level: Primary
  • # of students: 842
  • # of teachers: 30
3
GreatSchools Rating

Landmark Middle School

  • Education Level: Middle
  • # of students: 1,244
  • # of teachers: 52
2
GreatSchools Rating

Vista Del Lago High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 87
4
GreatSchools Rating
 

$422,910$516,890$469,900

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,734
Property Tax -$495
Property Insurance -$95
HOA -$30
Property Management Fees -$143
CASH FLOW
-$67

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.

$469,900

PROJECTED PRICE

$2,430

PROJECTED RENT

0.52%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$27,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,391

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3954$2,4305$2,500
$2,500
RENT COMPS ANALYSIS
  • 27393 Honey Scented Road Moreno Valley, CA 4
    • 4 beds 4 baths ∙ 2,821 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,821 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.86
    •  
  • 26330 Camino Largo Moreno Valley, CA 1
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2004
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 15252 Adobe Way Moreno Valley, CA 2
    • 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 2002
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 13835 Nicholas Way Moreno Valley, CA 3
    • 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2016
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
  • 26470 Bay Avenue Moreno Valley, CA 5
    • 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,895 Sqft ∙ Built 2005
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Guy Patterson
Guy Patterson Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21000463
Last Updated: 01/02/2021
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