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11021 Milky Way Drive Jurupa Valley, CA 91752

3 Beds 2 Baths 1,680 sqft Built 1976

$559,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $332.74
  • 5 Days on Market
  • MLS # : IV20242164
  • Updated Date : 11/18/2020 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Karen L. Janikowski, Broker

Listing Agent's Description

***SINGLE STORY HOME on 1/2 ACRE “HORSE PROPERTY” with HUGE DETACHED GARAGE & RV PARKING*** This Horse Property Home is on a Huge ½ Acre Lot (23,958 Sq. Ft) with a 1408 Sq. Ft. Home, 3 Bedrooms, 2 Full Baths with a 4th Bedroom/Bonus Room (an additional 272 Sq. Ft) totaling 1680 Sq. Ft. The Exterior of Home has new exterior paint with a 2 car attached garage. The Kitchen was remodeled in 2015 with Granite Countertops, New Cabinetry, Sink, Microwave & Upgraded Flooring overlooking the spacious Family Room with Fireplace. The Master Bedroom has it owns private Bathroom and two additional Bedrooms with a Full Bathroom, you will love this Home’s layout. The Backyard is massive with a 24 x 24 Covered Horse Paddock, with room for a turnout or arena with a Feed/Storage Shed, Chicken Coups, Goat Pens, RV Parking and a Huge 400 Sq. Ft. Detached Garage. There is tons of room to build anything you can Dream up including a Pool & Spa. Low Taxes & No HOA. You must see this Home, this one will not last. Checkout the Virtual 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: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $116k537k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9112487

* 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
Sky Country Elementary School Primary Regular 658 24 4
Sky Country Elementary School Middle Regular 658 24 4
Jurupa Valley High School High Regular 1,608 65 4

Sky Country Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 24
4
GreatSchools Rating

Sky Country Elementary School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
4
GreatSchools Rating

Jurupa Valley High School

  • Education Level: High
  • # of students: 1,608
  • # of teachers: 65
4
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,062
Property Tax -$532
Property Insurance -$68
Property Management Fees -$145
CASH FLOW
-$347

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.

$559,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
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

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$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,492

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4603$2,6504$2,700
$2,700
RENT COMPS ANALYSIS
  • 11021 Milky Way Drive Jurupa Valley, CA 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1976
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.46
    •  
  • 5106 Trail Canyon Drive Jurupa Valley, CA 1
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1979
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.39
    •  
  • 11289 Mercury Court Jurupa Valley, CA 3
    • 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.52
    •  
  • 283 8th Street Norco, CA 4
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.54
    •  
PROPERTY LISTING DETAILS
Karen Janikowski
Karen L. Janikowski, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20242164
Last Updated: 11/18/2020
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