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6329 Shorthorn Drive Eastvale, CA 92880

4 Beds 2 Baths 2,063 sqft Built 2004

$587,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $284.54
  • 3 Days on Market
  • MLS # : PW20239336
  • Updated Date : 11/13/2020 at 20:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,063 sqft
  • Baths : 2 full
Listing Agent

Khorr Realty

Listing Agent's Description

A beautiful home peacefully situated. Gorgeous and upgraded, this 4 bedroom , 2 bathroom home of 2063 sq. ft. sits in the lovely city of Eastvale. Lovely-appointed thoughtful open space. Open-concept living, dining, and kitchen area. Living room welcomes you with beautiful floors which lead you into the kitchen which is equipped with quartz counter tops , light grey cabinets. Cook your finest meals and sit in the dining area. Gather around the fireplace in the family room have a cup of coffee take off your shoes and read a great book. The master bedroom sits just off the family area and has a large closet. Love gatherings bring your family and friends to your lovely backyard . This home is near plenty of restaurants, shops, grocery store, parks and school.

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
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
 

$528,300$645,700$587,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,166
Property Tax -$731
Property Insurance -$77
Property Management Fees -$147
CASH FLOW
-$631

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.

$587,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.42%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,305

INVESTMENT

$161,305

Down Payment
$146,750
Rehab Estimate
$5,750
Closing Costs
$8,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,166

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,750
Loan Amount $440,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,091

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
  • $1.21

    LIST RENT PER SQFT
  • $2,470

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,405
1$2,4052$2,4903$2,6004$2,6505$2,750
$2,750
RENT COMPS ANALYSIS
  • 6329 Shorthorn Drive Eastvale, CA 2
    • 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.21
    •  
  • 6043 Snapdragon Street Eastvale, CA 1
    • 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
    •  
  • 6364 Kaisha Street Eastvale, CA 3
    • 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2004
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.15
    •  
  • 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
    •  
  • 6528 Chloe Court Eastvale, CA 5
    • 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,253 Sqft ∙ Built 2005
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Yvonne Regis
Khorr Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20239336
Last Updated: 11/13/2020
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