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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $350.13
- 2 Days on Market
- MLS # : IG21151445
- Updated Date : 07/12/2021 at 13:34
CONSTRUCTION
- Beds : 4
- Floor Size : 1,965 sqft
- Baths : 3 full
Listing Agent
Provident Real Estate
Listing Agent's Description
Turnkey property located in the heart of Eastvale. Conveniently located near award winning schools, popular Eastvale shopping center and dining options, major freeways and MORE! This wonderful home offers nearly 2,000 square feet of living space including 4 bedrooms and 3 full bathrooms. One bedroom and full bathroom is located on the first floor, ideal for overnight guests. Upon entry you are greeted by wood flooring installed in all main living areas providing a uniform flow and easy maintenance. Fresh paint and carpet throughout and crown molding downstairs! Entertain with ease in this kitchen that opens up to the family room boasting a built-in entertainment niche and fireplace. The oversized kitchen has a walk-in pantry, dual ovens, a pots and pans rack, and plenty of cabinet space. Moving along upstairs you will find the master bedroom with a unique fireplace and showcasing a spacious en-suite with dual sinks, a deep soaking tub, a large walk-in shower, and walk-in master closet. There are ceiling fans installed in all bedrooms! The laundry room is conveniently located upstairs. The backyard offers plenty of space to add your special touch and an oversized patio cover with ceiling fans installed. NO HOA! Estimated tax rate is 1.5%. Scheudle your private showing today!
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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: Eastvale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eastvale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$2,390 |
| Property Tax | -$659 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$789
|
||
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.
$688,000
PROJECTED PRICE
$2,480
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$188,070
LOAN DETAILS
$2,390
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $172,000 |
| Loan Amount | $516,000 |
0.42
YEARS SAVED
$915
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$1.26
LIST RENT PER SQFT
-
$2,569
COMP ESTIMATED VALUE -
$1.31
COMP AVG. RENT PER SQFT
Comps Range
-
13070 Lavonda Street Eastvale, CA 1
- 4 beds 3 baths ∙ 1,965 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,965 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,480
- $1.26
-
5940 Silveira Street Eastvale, CA 2
- 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2017
LEASED 02/24/21- Rent
- Rent Per SQFT
- $2,500
- $1.25
-
5974 Silveria Street Eastvale, CA 3
- 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2017
LEASED 10/02/20- Rent
- Rent Per SQFT
- $2,595
- $1.30
-
13134 Snowdrop Street Eastvale, CA 4
- 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
-
12878 Merry Meadows Drive Eastvale, CA 5
- 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2004
LEASED 07/02/21- Rent
- Rent Per SQFT
- $2,795
- $1.35
PROPERTY LISTING DETAILS
Provident Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG21151445
Last Updated: 07/12/2021
