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13683 Turf Paradise Street Eastvale, CA 92880

3 Beds 2 Baths 2,088 sqft Built 2006

$595,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $284.96
  • 5 Days on Market
  • MLS # : PW20262223
  • Updated Date : 12/23/2020 at 15:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Savvy Lane Real Estate

Listing Agent's Description

Beautiful home located in Corona! Spacious kitchen equipped with a beautiful grey-colored granite countertop and stainless steel appliances. Also comes with your very own double oven, perfect for entertaining. White walls ready for your touch! Hurry and add to your list of must-sees today!

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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
Rosa Parks Elementary School Primary Regular 1,677 57 7
Augustine Ramirez Intermediate School Middle Regular 1,117 38 7
Eleanor Roosevelt High School High Regular 3,868 134 8

Rosa Parks Elementary School

  • Education Level: Primary
  • # of students: 1,677
  • # of teachers: 57
7
GreatSchools Rating

Augustine Ramirez Intermediate School

  • Education Level: Middle
  • # of students: 1,117
  • # of teachers: 38
7
GreatSchools Rating

Eleanor Roosevelt High School

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

$535,500$654,500$595,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$2,195
Property Tax -$570
Property Insurance -$78
Property Management Fees -$148
CASH FLOW
-$490

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.

$595,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.42%

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$15k

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$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$8,328

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,500

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,511

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 13683 Turf Paradise Street Eastvale, CA 4
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 13575 Apricot Tree Lane Eastvale, CA 1
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2002
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.16
    •  
  • 5858 Milana Drive Eastvale, CA 2
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.23
    •  
  • 6192 Cedar Creek Road Eastvale, CA 3
    • 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,031 Sqft ∙ Built 2003
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.23
    •  
  • 5038 S Mccleve Way E Ontario, CA 5
    • 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,141 Sqft ∙ Built 2016
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.19
    •  
PROPERTY LISTING DETAILS
Sue Wylie
Savvy Lane Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20262223
Last Updated: 12/23/2020
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