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28754 Dracaea Avenue Moreno Valley, CA 92555

5 Beds 2 Baths 1,884 sqft Built 1994

$548,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $290.87
  • 7 Days on Market
  • MLS # : DW20248542
  • Updated Date : 12/01/2020 at 09:50
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Century 21 Peak

Listing Agent's Description

Great opportunity!! This is a beautiful single story home that features 5 bedrooms and 2 baths on a 23,087 sq. ft. lot. Don't miss out on this amazing chance to move into this spacious home. This house is located in a highly desirable neighborhood in Moreno Valley with NO HOA, with a large interior and plenty of room on the outside to relax with an enormous covered patio to entertain family and friends; or to build your swimming pool or keep your boat or RV. This house has newer decorated landscaping curbs gardens with California marble white stone rocks, and flat rusted gold stone steps to the main entrance, high ceiling living room, and dining area with travertine floor. The kitchen has plenty of storage and appliances are included, also open to the family room. There is a fireplace in the family room with granite mantel hand-design custom made. Huge master bedroom with newer flooring, a walk in closet, and a beautiful bathroom with double sink and custom made marble flooring; the other rooms have newer laminate flooring. This move in ready home has an inside laundry area, 3 car garage attached, and up to 10 car parking spaces; short drive to schools, to parks, and to shopping centers. The 60 FWY and 215 FWY are close by. Also, it is located in a horse property land. Huge bonus room and bathroom! COME AND SEE THIS BEAUTIFUL HOME!! IT WON'T LAST!!

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
Ridge Crest Elementary School Primary Regular 586 21 3
Mountain View Middle School Middle Regular 1,239 60 3
Valley View High School High Regular 2,686 107 4

Ridge Crest Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
3
GreatSchools Rating

Mountain View Middle School

  • Education Level: Middle
  • # of students: 1,239
  • # of teachers: 60
3
GreatSchools Rating

Valley View High School

  • Education Level: High
  • # of students: 2,686
  • # of teachers: 107
4
GreatSchools Rating
 

$493,200$602,800$548,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,022
Property Tax -$678
Property Insurance -$73
Property Management Fees -$136
CASH FLOW
-$609

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.

$548,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.42%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,970

INVESTMENT

$150,970

Down Payment
$137,000
Rehab Estimate
$5,750
Closing Costs
$8,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,000
Loan Amount $411,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,361

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,3003$2,5004$3,300
$3,300
RENT COMPS ANALYSIS
  • 28754 Dracaea Avenue Moreno Valley, CA 2
    • 5 beds 2 baths ∙ 1,884 Sqft ∙ Built 1994 5 beds 2 baths ∙ 1,884 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.22
    •  
  • 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
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.93
    •  
  • 27157 Woodglen Moreno Valley, CA 3
    • 5 beds 3 baths ∙ 2,151 Sqft ∙ Built 2009 5 beds 3 baths ∙ 2,151 Sqft ∙ Built 2009
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
  • 13860 Nason Moreno Valley, CA 4
    • 4 beds 1 baths ∙ 1,971 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,971 Sqft ∙ Built 1979
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.67
    •  
PROPERTY LISTING DETAILS
Lilian Lopez
Century 21 Peak
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20248542
Last Updated: 12/01/2020
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