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6300 Shorthorn Drive Eastvale, CA 92880

5 Beds 3 Baths 2,858 sqft Built 2019

$682,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
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!

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: 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
 

$613,800$750,200$682,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

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

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$186,480

INVESTMENT

$186,480

Down Payment
$170,500
Rehab Estimate
$5,750
Closing Costs
$10,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,369

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $170,500
Loan Amount $511,500
See What Happens When You Reinvest Cash Flow

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
$2,600
1$2,6002$2,6003$2,6504$2,6505$2,670
$2,670
RENT COMPS ANALYSIS
  • 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
Wenjing Hou
Keller Williams Riverside Cent
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21007144
Last Updated: 01/14/2021
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