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5971 Ginger Drive Eastvale, CA 92880

3 Beds 3 Baths 2,197 sqft Built 2016

$559,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $254.44
  • 3 Days on Market
  • MLS # : TR21024911
  • Updated Date : 02/05/2021 at 19:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,197 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Care

Listing Agent's Description

Beautiful detached home located in heart of Eastvale. Low tax rates and Low HOA fee. Community has Swimming Pool and SPA, Fitness center, Club house, dog park and BBQ. Property has many of upgrades, tiled floor covers whole downstairs and bathrooms, granite countertops, Epoxy floor in Garage. It features an open kitchen with center island. Second floor has master bedroom and master bathroom, two guest bedrooms with one guest bathroom, laundry room, good sized loft for your entertainment. Great Eastvale school district. Very close to Eastvale major shopping centers. Easy to access 15 and 60 Freeways.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Eastvale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k728k

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

Neighborhood: Eastvale

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822743

* 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
River Heights Intermediate School Middle Regular 1,052 37 7
Eleanor Roosevelt High School High Regular 3,868 134 8
River Heights Intermediate School Middle Unknown NA

River Heights Intermediate School

  • Education Level: Middle
  • # of students: 1,052
  • # of teachers: 37
7
GreatSchools Rating

Eleanor Roosevelt High School

  • Education Level: High
  • # of students: 3,868
  • # of teachers: 134
8
GreatSchools Rating

River Heights Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,942
Property Tax -$677
Property Insurance -$80
HOA -$189
Property Management Fees -$142
CASH FLOW
-$629

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.

$559,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,4004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 5971 Ginger Drive Eastvale, CA 4
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
  • 5864 Silveira Street Eastvale, CA 1
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
  • 5855 Ginger Drive Eastvale, CA 2
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2016
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.09
    •  
  • 5946 Silveira Street Eastvale, CA 3
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2017
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
  • 6129 Rosewood Way Eastvale, CA 5
    • 3 beds 3 baths ∙ 2,325 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,325 Sqft ∙ Built 2017
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.10
    •  
PROPERTY LISTING DETAILS
Peng Dong
Century 21 Care
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21024911
Last Updated: 02/05/2021
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