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PROPERTY INFO
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.
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mira Loma
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$153,885
LOAN DETAILS
$2,062
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $139,750 |
| Loan Amount | $419,250 |
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
-
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 L. Janikowski, Broker
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV20242164
Last Updated: 11/18/2020
