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5360 Cormorant Court Jurupa Valley, CA 91752

5 Beds 4 Baths 2,815 sqft Built 2018

$630,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $223.80
  • 8 Days on Market
  • MLS # : IV20244790
  • Updated Date : 11/23/2020 at 10:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,815 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

2018 Harvest Community Home . Open the front door to beautiful open concept floor plan .Formal dining, Family room , Gourmet Kitchen with Walk in Pantry is Absolutely Beautiful Designed. This is a Smart Home with Luxury features and Technology. This Home comes with paid off Solar panels. Home comes with Custom Blinds and Ceiling Fans.Landscaping is very well maintained . Extra Storage with 2 Sheds. There is so much more to this Home you must come take a look for your self to view this Gorgeous Home.

SEE MORE

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: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $116k537k

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

Neighborhood: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9112487

* 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
Sky Country Elementary School Primary Regular 658 24 4
Sky Country Elementary School Middle Regular 658 24 4
Jurupa Valley High School High Regular 1,608 65 4

Sky Country Elementary School

  • Education Level: Primary
  • # of students: 658
  • # of teachers: 24
4
GreatSchools Rating

Sky Country Elementary School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
4
GreatSchools Rating

Jurupa Valley High School

  • Education Level: High
  • # of students: 1,608
  • # of teachers: 65
4
GreatSchools Rating
 

$567,000$693,000$630,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$2,324
Property Tax -$599
Property Insurance -$95
Property Management Fees -$165
CASH FLOW
-$384

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.

$630,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,324

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$14,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,801

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,8004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 5360 Cormorant Court Jurupa Valley, CA 4
    • 5 beds 4 baths ∙ 2,815 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,815 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
  • 5599 Skimmer Drive Jurupa Valley, CA 1
    • 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
  • 5606 Lark Sparrow Court Jurupa Valley, CA 2
    • 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
  • 5899 Red Hawk Court Jurupa Valley, CA 3
    • 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2015 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2015
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
  • 5582 Lark Sparrow Court Jurupa Valley, CA 5
    • 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,816 Sqft ∙ Built 2017
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Michael Flamenco
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20244790
Last Updated: 11/23/2020
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