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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $350.28
- 4 Days on Market
- MLS # : SW20264619
- Updated Date : 12/31/2020 at 08:24
CONSTRUCTION
- Beds : 3
- Floor Size : 1,784 sqft
- Baths : 2 full
Listing Agent
Re/max One
Listing Agent's Description
**Low Taxes**No HOA**Large Lot**Pool & Spa**RV/Boat Access**Horse Property** Welcome to your own private Paradise! Watch 3D tour and come view this wonderful single story pool home located in the highly desirable Sky Country community. This 3 bedroom, 2 bath home features a nice open floor plan, new laminate wood flooring throughout, completely remodeled inside and out, new kitchen and bathrooms, new laundry room, custom paint, recessed lighting, ceiling fans, crown molding, 3 sliding doors leading to the immaculately landscaped back yard. The Backyard is an entertainers dream with covered outdoor living space featuring, fireplace w/built in Tv, custom BBQ island with 5 burner grill, wine fridge and plenty of storage, pool, spa, large grass area, fruit trees, 10 x 10 shed with sky light and ventilation, huge cemented side yard, gated RV/boat access. Bring your toys! This property is zoned for horses. This home is located near shopping, dining, movie theater, parks, schools, several golf courses and freeway access. The Sky Country community features horse trails, Laramore Riding Park, Wineville Park and Sky Country Elementary. Don't miss out on this great opportunity to own your own piece of paradise...
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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: 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 | $2,490 |
| EXPENSES | Loan Payment | -$2,306 |
| Property Tax | -$595 | |
| Property Insurance | -$70 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$627
|
||
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.
$624,900
PROJECTED PRICE
$2,490
PROJECTED RENT
0.40%
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
$171,349
LOAN DETAILS
$2,306
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $156,225 |
| Loan Amount | $468,675 |
1.17
YEARS SAVED
$3,613
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$1.4
LIST RENT PER SQFT
-
$2,515
COMP ESTIMATED VALUE -
$1.41
COMP AVG. RENT PER SQFT
Comps Range
-
11525 Arguello Drive Jurupa Valley, CA 2
- 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $2,490
- $1.40
-
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
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
LEASED 07/11/20- Rent
- Rent Per SQFT
- $2,650
- $1.52
-
6492 Marigold Street Eastvale, CA 4
- 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1999
LEASED 01/31/20- Rent
- Rent Per SQFT
- $2,690
- $1.32
PROPERTY LISTING DETAILS
Re/max One
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20264619
Last Updated: 12/31/2020
