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12886 Merry Meadows Drive Eastvale, CA 92880

4 Beds 3 Baths 1,905 sqft Built 2004

$585,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $307.09
  • 8 Days on Market
  • MLS # : CV21010389
  • Updated Date : 01/20/2021 at 14:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,905 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Beautiful 3 bedroom + loft home in desirable Eastvale neighborhood close to parks and schools. Completely remolded downstairs, quarts counter tops in kitchen, built- in Whirlpool appliances. Laminate wood flooring, crown molding throughout. Tastefully painted, vaulted ceiling in master bedroom, double sinks in full bathrooms. 2nd floor laundry room, two car garage. Sliding glass door from family room to backyard area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Eastvale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k728k

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

Neighborhood: Eastvale

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822743

* 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
Harada Elementary School Primary Regular 1,365 50 8
Harada Elementary School Middle Regular 1,365 50 8
Eleanor Roosevelt High School High Regular 3,868 134 8

Harada Elementary School

  • Education Level: Primary
  • # of students: 1,365
  • # of teachers: 50
8
GreatSchools Rating

Harada Elementary School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 50
8
GreatSchools Rating

Eleanor Roosevelt High School

  • Education Level: High
  • # of students: 3,868
  • # of teachers: 134
8
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,032
Property Tax -$729
Property Insurance -$73
Property Management Fees -$147
CASH FLOW
-$491

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.

$585,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,419

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
  • $1.31

    LIST RENT PER SQFT
  • $2,453

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,490
1$2,4902$2,6003$2,6004$2,6005$2,690
$2,690
RENT COMPS ANALYSIS
  • 12886 Merry Meadows Drive Eastvale, CA 1
    • 4 beds 3 baths ∙ 1,905 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,905 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.31
    •  
  • 13134 Snowdrop Street Eastvale, CA 2
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2005
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.33
    •  
  • 12581 Cipriano Lane Eastvale, CA 3
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 12585 Montaivo Lane Eastvale, CA 4
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2009
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 6492 Marigold Street Eastvale, CA 5
    • 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
Thomas Harrison
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21010389
Last Updated: 01/20/2021
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