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PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $238.63
- 5 Days on Market
- MLS # : IV21007144
- Updated Date : 01/14/2021 at 18:34
CONSTRUCTION
- Beds : 5
- Floor Size : 2,858 sqft
- Baths : 3 full
Listing Agent
Keller Williams Riverside Cent
Listing Agent's Description
2019 Newly built Pulte Home in prime location in City of Eastvale, close to Eastvale Gateway, schools, restaurant and freeways. This home is just waiting for your personal touch to make it an ideal home! An office or formal dining room is at your left once you enter. The gourmet kitchen is very spacious, features granite countertop and stainless steel kitchen appliance and opens to family room. Enjoy your cooking time and stay with family! Home features 5 bedrooms and 3 full bath, with one bedroom and 1 bath downstairs. Upstairs you'll find a large loft for family entertainment and other four bedrooms, each is good size and perfect for each family member to have his/her own space. Leased solar panel, tankless water heater. Please come to see the home today!
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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: Eastvale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Eastvale
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,670 |
| EXPENSES | Loan Payment | -$2,369 |
| Property Tax | -$826 | |
| Property Insurance | -$96 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$778
|
||
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.
$682,000
PROJECTED PRICE
$2,670
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$186,480
LOAN DETAILS
$2,369
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $170,500 |
| Loan Amount | $511,500 |
0.42
YEARS SAVED
$767
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,670
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,808
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
6300 Shorthorn Drive Eastvale, CA 5
- 5 beds 3 baths ∙ 2,858 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,858 Sqft ∙ Built 2019
- Rent
- Rent Per SQFT
- $2,670
- $0.93
-
5952 Silveira Street Eastvale, CA 1
- 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2016
LEASED 03/01/20- Rent
- Rent Per SQFT
- $2,600
- $0.98
-
5985 Ginger Drive Eastvale, CA 2
- 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2016
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,600
- $0.98
-
6437 Kaisha Street Eastvale, CA 3
- 5 beds 3 baths ∙ 2,668 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,668 Sqft ∙ Built 2004
LEASED 03/10/20- Rent
- Rent Per SQFT
- $2,650
- $0.99
-
6438 Gladiola Street Eastvale, CA 4
- 5 beds 4 baths ∙ 2,717 Sqft ∙ Built 2004 5 beds 4 baths ∙ 2,717 Sqft ∙ Built 2004
LEASED 08/26/20- Rent
- Rent Per SQFT
- $2,650
- $0.98
PROPERTY LISTING DETAILS
Keller Williams Riverside Cent
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21007144
Last Updated: 01/14/2021
