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PROPERTY INFO
FACTS
- Single Family
- Built In 2015
- Price/Sqft : $206.93
- 4 Days on Market
- MLS # : SW20263605
- Updated Date : 01/01/2021 at 17:31
CONSTRUCTION
- Beds : 4
- Floor Size : 2,223 sqft
- Baths : 3 full
Listing Agent
Better Homes And Gardens Real Estate Registry
Listing Agent's Description
Beautiful, pristine 4 bedroom, 3 bath home located in the highly desirable Summerly Community. The home has a huge kitchen island that opens to a breakfast nook and oversized family room. The kitchen has dark beechwood cabinets- extending the entire length of kitchen with brushed nickel pulls, slab granite countertops, full granite backsplash, stainless steel sink and stainless steel GE appliances. There is oversized tile flooring set on the diagonal throughout downstairs with Luxury Vinyl Plank in the great room. One spacious bedroom downstairs (currently used as an office) with full bathroom.Upstairs is a beautiful master suite with separate walk-in shower, garden tub, dual vanities,and large walk in closet. Upstairs you will find two additional bedrooms, full bathroom, and laundry room with sink, upper laundry cabinets, and additional storage space. Step out into the tranquil and peaceful backyard. There is an oversized outdoor patio with recessed can lights and ceiling fan outlet. Backyard has been completely landscaped with custom concrete and drought resistant plants. The backyard is very private and ready to be enjoyed. Enjoy the wonderful amenities of the Summerly Community--there is something for everyone. The Summerly Golf course is within walking distance. There are several community parks and playgrounds nearby. Take advantage of the clubhouse, pools, spas, and the sports courts. Don't miss your opportunity to own this great home.
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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: Summerly
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerly
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,340 |
| EXPENSES | Loan Payment | -$1,697 |
| Property Tax | -$432 | |
| Property Insurance | -$81 | |
| HOA | -$117 | |
| Property Management Fees | -$138 | |
|
CASH FLOW
-$125
|
||
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.
$460,000
PROJECTED PRICE
$2,340
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| 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
$127,650
LOAN DETAILS
$1,697
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $115,000 |
| Loan Amount | $345,000 |
4.33
YEARS SAVED
$22,499
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,340
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$2,334
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
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- $2,475
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- $2,700
- $1.07
PROPERTY LISTING DETAILS
Better Homes And Gardens Real Estate Registry
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20263605
Last Updated: 01/01/2021
