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PROPERTY INFO
FACTS
- Single Family
- Built In 2009
- Price/Sqft : $198.26
- 3 Days on Market
- MLS # : SW20258831
- Updated Date : 12/18/2020 at 13:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,841 sqft
- Baths : 2 full , 1 half
Listing Agent
Redfin Corporation
Listing Agent's Description
Welcome to your adorable condo in the ultra accessible neighborhood of North Oaks! Located right at Clinton Keith and the 215, this Condo is across from great shopping with easy access to the Freeway. This home features ZERO carpet with gorgeous dark laminate including the stairs! Downstairs laundry and a nicely appointed kitchen with granite counters and dark cabinetry. You can set up a little table in the dining space or set some barstools at the breakfast bar. The Family Room is wired for surround sound and the front living room is enormous with an awesome nook for whatever you want! All 3 Bedrooms are upstairs. You will appreciate that the Master gets a ton of natural light and you are going to love the giant walk in closet! Outside you can enjoy a cozy little patio that is very private and the attached 2 car garage, which makes condo living easy. There is a ton of guest parking. North Oaks offers a Tot Lot and a Pool and Spa. Come see this home today!
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greer Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,160 |
| EXPENSES | Loan Payment | -$1,347 |
| Property Tax | -$381 | |
| Property Insurance | -$72 | |
| HOA | -$185 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
$48
|
||
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.
$365,000
PROJECTED PRICE
$2,160
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 6.9% |
| 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
$102,475
LOAN DETAILS
$1,347
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
6.25
YEARS SAVED
$30,998
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,160
LIST RENT -
$1.17
LIST RENT PER SQFT
-
$2,292
COMP ESTIMATED VALUE -
$1.25
COMP AVG. RENT PER SQFT
Comps Range
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- $2,150
- $1.22
PROPERTY LISTING DETAILS
Redfin Corporation
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20258831
Last Updated: 12/18/2020
