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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $220.71
- 4 Days on Market
- MLS # : IV21028265
- Updated Date : 02/11/2021 at 18:42
CONSTRUCTION
- Beds : 5
- Floor Size : 2,492 sqft
- Baths : 3 full
Listing Agent
Realty Masters & Associates
Listing Agent's Description
Sierra Lakes Stunner! Finally a home large enough for your growing family located in a neighborhood that you will be proud to call home. Located walking distance to all your shopping and entertainment needs. Golf course living WITHOUT an HOA! Inside this beautiful home features the highly sought after downstairs bedroom & full bathroom. Large kitchen with the perfect size island for that extra counter space. Upstairs features a HUGE master bathroom complete with new flooring. New paint throughout. Enjoy plush new sod out back for your children to enjoy and best of all it will stay green because the entire sprinkler system was just completely redone!
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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: Sierra Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sierra Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,490 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$623 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$147 | |
|
CASH FLOW
-$278
|
||
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.
$550,000
PROJECTED PRICE
$2,490
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.6% |
| 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
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
2.92
YEARS SAVED
$12,979
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,490
LIST RENT -
$1
LIST RENT PER SQFT
-
$2,467
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
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- $2,500
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LEASED 03/13/20- Rent
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- $2,600
- $1.04
PROPERTY LISTING DETAILS
Realty Masters & Associates
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21028265
Last Updated: 02/11/2021
