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6064 Snapdragon Street Eastvale, CA 92880

4 Beds 3 Baths 2,096 sqft Built 2015

$539,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $257.16
  • 2 Days on Market
  • MLS # : CV20231338
  • Updated Date : 11/02/2020 at 20:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent

Griggs Mutual Realty & Mgmt.

Listing Agent's Description

This STUNNING Turnkey Two-Story 4 Bedroom 3 Bath home has all the Condo living benefits of limited exterior maintenance and amazing amenities, coupled with the interior privacy benefits of having no shared walls. You will not need to leave your community to enjoy benefits such as a sparkling pool, soothing spa, dance studio, fitness center or a nice outdoor picnic. Let your design and decorating imagination run wild as you walk into this abundant open concept floor plan from your own private front door entrance from the street or from your conveniently located 2 car attached garage. Downstairs features include a large living room next to the kitchen which boast granite counter tops, stainless-steel appliances and a breakfast bar perfect for entertaining and gatherings. Enjoy the convenience of having a guest bedroom and a full bath on the first floor. Upstairs comforts include a Master Bedroom en suite with separate tub and shower, dual vanity sinks, Walk-in closet, along with 2 additional guest bedrooms, a bathroom and laundry room down the hallway. Being within walking distance to Shopping Centers, Supermarkets, Entertaiment, Restaurants, Banks, Fitness clubs, and Parks. You’ll enjoy calling this home in the City of Eastvale your home.

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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
Harada Elementary School Primary Regular 1,365 50 8
Harada Elementary School Middle Regular 1,365 50 8
Eleanor Roosevelt High School High Regular 3,868 134 8

Harada Elementary School

  • Education Level: Primary
  • # of students: 1,365
  • # of teachers: 50
8
GreatSchools Rating

Harada Elementary School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 50
8
GreatSchools Rating

Eleanor Roosevelt High School

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

$485,100$592,900$539,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,989
Property Tax -$653
Property Insurance -$78
HOA -$189
Property Management Fees -$144
CASH FLOW
-$612

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.

$539,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.45%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$984

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4053$2,4404$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 6064 Snapdragon Street Eastvale, CA 3
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.16
    •  
  • 5961 Ginger Dr Eastvale, CA 1
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 2016
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.22
    •  
  • 6043 Snapdragon Street Eastvale, CA 2
    • 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,993 Sqft ∙ Built 2018
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,405
    • $1.21
    •  
  • 6067 Snapdragon Street Eastvale, CA 4
    • 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,197 Sqft ∙ Built 2015
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.21
    •  
  • 5764 Brianhead Drive Eastvale, CA 5
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2013
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.22
    •  
PROPERTY LISTING DETAILS
Richard Brown
Griggs Mutual Realty & Mgmt.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231338
Last Updated: 11/02/2020
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