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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $246.96
- 5 Days on Market
- MLS # : SW20254213
- Updated Date : 12/09/2020 at 13:08
CONSTRUCTION
- Beds : 4
- Floor Size : 2,632 sqft
- Baths : 3 full
Listing Agent
Homesmart
Listing Agent's Description
LOOKING FOR A SINGLE STORY? This fully upgraded and remodeled beautiful pool/spa home is truly amazing. It has a unique desirable floor plan with all the main living area including the Master Bedroom and 2 additional bedrooms on the main level plus a private bedroom and bath and open bonus room on the upper level. Perfect for guests or In-Law Quarters. Gourmet kitchen has rich cherry cabinets with custom glass insets, large island with granite counter tops coordinated with a beautiful custom back splash. Granite sink with custom faucets and a separate custom coffee bar. The open family/great room boasts a vaulted ceiling adding volume and light to the kitchen and features a beautiful built in wine bar flanked by a custom stone veneer fireplace and a fully customized entertainment center. Enjoy outdoor entertaining in your private outdoor oasis including a pebble tech pool and spa with a natural rock waterfall feature. Additional french door from the kitchen was added for convenient access to the outdoor side yard barbecue area. Plenty of outdoor private seating/dining areas enhance this custom landscaped tropical oasis. Additional upgrades include crown moulding throughout, wrought iron stair case, custom tile flooring throughout living areas and custom paint throughout. Remodeled master bath includes large jetted tub and custom stone surround. The upgrades are endless. Great central location close to shopping, wineries, and schools.
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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: Crowne Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Crowne Hill
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,670 |
| EXPENSES | Loan Payment | -$2,398 |
| Property Tax | -$722 | |
| Property Insurance | -$91 | |
| HOA | -$72 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$771
|
||
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.
$650,000
PROJECTED PRICE
$2,670
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.4% |
| 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
$178,000
LOAN DETAILS
$2,398
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $162,500 |
| Loan Amount | $487,500 |
0.42
YEARS SAVED
$1,102
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,670
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$2,665
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 02/16/20- Rent
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- $2,350
- $0.94
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LEASED 07/09/20- Rent
- Rent Per SQFT
- $2,600
- $1.00
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LEASED 05/30/20- Rent
- Rent Per SQFT
- $2,900
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LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,900
- $1.04
PROPERTY LISTING DETAILS
Homesmart
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20254213
Last Updated: 12/09/2020
