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27890 John F Kennedy Drive #C Moreno Valley, CA 92555

3 Beds 3 Baths 1,781 sqft Built 2005

$309,999

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $174.06
  • 3 Days on Market
  • MLS # : SW20259624
  • Updated Date : 12/18/2020 at 17:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,781 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to Promontory Pointe, an exclusive condominium community located within walking distance of Moreno Valley Ranch Golf Club! If serenity, style and comfort is what you want, then LOOK NO FURTHER!! This well maintained and choice corner unit features an open floor plan with charming living/dining room boasting tons of natural light beaming through your upgraded plantation shutters.. Just off of the family room is the well coordinated kitchen & eat in breakfast nook, very inviting w/bar height counters ideal for entertaining! The main floor offers recessed lighting, custom carpet, fireplace and much more. Also on this level is a powder room, laundry room with storage and access to your two car garage. The 2nd floor is spacious, yet cozy with private master ensuite, bedroom large enough for king sized bed, bath/shower combo, dual vanity and walk in closet. Just down the hall you'll find two nicely sized additional bedrooms and fully equipped bathroom. Promontory Pointe is a delightful community, built in 2005 comprised of 225 designer units. This complex offers several floor plans that feature private balconies and spacious living areas. The homeowners enjoy the fabulous amenities, which includes swimming pool, spa, picnic areas, major shopping centers nearby, access to commuter routes and guest parking for family and friends. Shown by appointment only - This property will SELL FAST! Call today to request your private tour.

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

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
 

$278,999$340,999$309,999

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,144
Property Tax -$326
Property Insurance -$70
HOA -$307
Property Management Fees -$107
CASH FLOW
-$144

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.

$309,999

PROJECTED PRICE

$1,810

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,499
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,994

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,8503$1,8504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 27890 John F Kennedy Drive Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.02
    •  
  • 27915 Cactus Avenue Moreno Valley, CA 2
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 2006
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 28422 Belleterre Avenue Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2000
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 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
    •  
  • 14810 Pete Dye Street Moreno Valley, CA 5
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2002
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Melody Carswell
Coldwell Banker Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SW20259624
Last Updated: 12/18/2020
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