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28250 Grandview Drive Moreno Valley, CA 92555

3 Beds 2 Baths 1,842 sqft Built 2003

$420,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $228.01
  • 2 Days on Market
  • MLS # : IV21064450
  • Updated Date : 03/27/2021 at 17:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,842 sqft
  • Baths : 2 full
Listing Agent

Hughes Realty

Listing Agent's Description

Desirable Gated 55+community. Right on the golf Course the views are fantastic. Community Clubhouse close by including card room, pool, spa, BBQ, kitchen, gym tennis. Lake Perris just minutes away for the fishermen. Home features ceiling fans throughout plantation shutters throughout. Master walk in closet and shower double sinks and vanity area. Very spacious over 1840+ Sq Ft home with media area. Kitchen has countertop eating as well as breakfast nook.

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
Ridge Crest Elementary School Primary Regular 586 21 3
Landmark Middle School Middle Regular 1,244 52 2
Vista Del Lago High School High Regular 2,189 87 4

Ridge Crest Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,459
Property Tax -$442
Property Insurance -$72
HOA -$129
Property Management Fees -$110
CASH FLOW
-$351

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.

$420,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.44%

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-$8.0k-$6.0k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8604$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 28250 Grandview Drive Moreno Valley, CA 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.01
    •  
  • 27966 John F Kennedy Drive Moreno Valley, CA 1
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 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
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 27964 John F Kennedy Drive Moreno Valley, CA 4
    • 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,781 Sqft ∙ Built 2006
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 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
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Michael Pluim
Hughes Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21064450
Last Updated: 03/27/2021
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