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17805 Nearbank Drive Rowland Heights, CA 91748

5 Beds 3 Baths 2,649 sqft Built 1968

$949,000

List Price

$3,350

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $358.25
  • 4 Days on Market
  • MLS # : OC21024077
  • Updated Date : 02/04/2021 at 18:29
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,649 sqft
  • Baths : 3 full
Listing Agent

Jec Realty Group

Listing Agent's Description

Home has been remodeled completely brand new just now. Everything is brand new including roof, floor, kitchen, all bedrooms and baths, flooring, landscaping, HVAC, windows, plumbing, all wires - anything you can think of has been completely done. Located on 11,000+ sqft lot, home features all very spacious 5 beds/ 3 full baths. Floorplan is perfect for multiple families, providing separate access to the downstairs that has two bedrooms and full bath. Upstairs wide open plan offers 9 ft ceiling, huge living room, steps up to family room overlooking the kitchen. Private hillside backyard with no neighbors overlooking, perfect for private entertaining and dining. Front driveway and backyard all brand new concrete floor. Excellent turn key move-in condition. Close to 57/60 freeways and shopping malls. Send your kids to award-winning schools and enjoy no mello-roos!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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 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 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: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500k550k600k650kPrice in $187k690k

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

Neighborhood: Rowland Heights

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q216001700180019002000210022002300240025002600270028002900Rent in $15582941

* 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
Alvarado Intermediate School Middle Regular 750 30 7
John A. Rowland High School High Regular 2,329 87 8

Alvarado Intermediate School

  • Education Level: Middle
  • # of students: 750
  • # of teachers: 30
7
GreatSchools Rating

John A. Rowland High School

  • Education Level: High
  • # of students: 2,329
  • # of teachers: 87
8
GreatSchools Rating
 

$854,100$1,043,900$949,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$3,296
Property Tax -$1,015
Property Insurance -$91
Property Management Fees -$164
CASH FLOW
-$1,216

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.

$949,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.48%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$257,235

INVESTMENT

$257,235

Down Payment
$237,250
Rehab Estimate
$5,750
Closing Costs
$14,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $237,250
Loan Amount $711,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$946

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $3,364

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,3004$3,3005$3,350
$3,350
RENT COMPS ANALYSIS
  • 17805 Nearbank Drive Rowland Heights, CA 5
    • 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1968 5 beds 3 baths ∙ 2,649 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.26
    •  
  • 1726 Turnpost Lane Hacienda Heights, CA 1
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1972
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.24
    •  
  • 2475 Matador Drive Rowland Heights, CA 2
    • 5 beds 3 baths ∙ 2,578 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,578 Sqft ∙ Built 1970
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.24
    •  
  • 1708 Heather Hill Road Hacienda Heights, CA 3
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1972
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.26
    •  
  • 17948 Scarecrow Place Rowland Heights, CA 4
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 1986
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.34
    •  
PROPERTY LISTING DETAILS
Joon Chung
Jec Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21024077
Last Updated: 02/04/2021
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