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PROPERTY INFO
FACTS
- Single Family
- Built In 1976
- Price/Sqft : $291.09
- 3 Days on Market
- MLS # : PW21003560
- Updated Date : 01/15/2021 at 16:28
CONSTRUCTION
- Beds : 3
- Floor Size : 2,233 sqft
- Baths : 1 full
Listing Agent
Partners Real Estate Group
Listing Agent's Description
Welcome Home!! This beautiful single story, Ranch style home is located on a 20,038 square foot lot with endless possibilities. House boasts 3 bedrooms and 2 bathrooms, with approximately 2,233 square feet of living space. Custom walk-in pantry, granite counter tops in kitchen and both bathrooms, stainless steel appliances, custom walk-in closets, and separate work-out room. Enter into the backyard, which is an entertainers dream. Enjoy cooking on the built in BBQ while your guests relax at the custom built bar top with gas fire pit, or cool off in the gorgeous, heated, inground pool and jacuzzi. Grass area provides ample space for tons of activities, still leaving plenty of room for horses to roam in their pens. Chicken coops, tortoise pen, and dog run allow for animals to enjoy their own space. Vinyl panel gate with remote access, 2-car detached garage with pull through access and RV parking. Multiple sheds on property including a 10ft. by 15ft. Tuff Shed with heightened roof provide additional storage space. Leased solar panels help towards electricity bills, and so much more. Conveniently located near shopping centers, riding trails, and Laramore Park featuring 2 horse arenas. No HOA and no Mello Roo's. Don't miss your opportunity, come see all this home has to offer!
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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 | $2,760 |
| EXPENSES | Loan Payment | -$2,258 |
| Property Tax | -$619 | |
| Property Insurance | -$81 | |
| Property Management Fees | -$163 | |
|
CASH FLOW
-$360
|
||
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.
$649,999
PROJECTED PRICE
$2,760
PROJECTED RENT
0.42%
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
$178,000
LOAN DETAILS
$2,258
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $162,500 |
| Loan Amount | $487,499 |
2.5
YEARS SAVED
$13,142
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,760
LIST RENT -
$1.24
LIST RENT PER SQFT
-
$2,657
COMP ESTIMATED VALUE -
$1.19
COMP AVG. RENT PER SQFT
Comps Range
-
11271 Sky Country Drive Jurupa Valley, CA 1
- 3 beds 1 baths ∙ 2,233 Sqft ∙ Built 1976 3 beds 1 baths ∙ 2,233 Sqft ∙ Built 1976
- Rent
- Rent Per SQFT
- $2,760
- $1.24
-
5250 Haldor Drive Riverside, CA 2
- 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 1984
LEASED 12/16/20- Rent
- Rent Per SQFT
- $2,800
- $1.19
PROPERTY LISTING DETAILS
Partners Real Estate Group
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21003560
Last Updated: 01/15/2021
