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565 S Joyce Avenue Rialto, CA 92376

3 Beds 2 Baths 1,650 sqft Built 1979

$415,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $251.52
  • 6 Days on Market
  • MLS # : IV21016924
  • Updated Date : 01/30/2021 at 10:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Great home nested in a quiet neighborhood of Rialto. Conveniently located near schools and shopping centers. This 3 bedroom 2 bath home has a good layout, you'll feel as it's a larger home once you walk through. At the entry you'll find a room that can be used as a small dining area or retreat. Living Room is big and has a brick fireplace. The kitchen has a 2nd dining space and plenty of cabinet space. All 3 bedrooms are very comfortable in size. The backyard has a large cement pad to come out and enjoy a BBQ or simply let your kids come out and play. There is a 2 car attached garage with plenty of space to add your workshop. This home has solar panels installed, which is a huge energy savings feature. Come by and take a look!

SEE MORE

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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Boyd Elementary School Primary Regular 549 20 3
Jehue Middle School Middle Regular 1,401 51 2
Rialto High School High Regular 2,881 121 5

Boyd Elementary School

  • Education Level: Primary
  • # of students: 549
  • # of teachers: 20
3
GreatSchools Rating

Jehue Middle School

  • Education Level: Middle
  • # of students: 1,401
  • # of teachers: 51
2
GreatSchools Rating

Rialto High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 121
5
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,441
Property Tax -$484
Property Insurance -$67
Property Management Fees -$114
CASH FLOW
-$176

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.

$415,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$10,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9303$1,9504$2,000
$2,000
RENT COMPS ANALYSIS
  • 565 S Joyce Avenue Rialto, CA 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.17
    •  
  • 1838 Golden Spike Drive Colton, CA 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
  • 915 S Idyllwild Avenue Bloomington, CA 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 446 E James Street Rialto, CA 4
    • 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Rodrigo Franco
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21016924
Last Updated: 01/30/2021
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