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6644 Gillam Street Jurupa Valley, CA 92509

4 Beds 2 Baths 1,721 sqft Built 1988

$525,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $305.06
  • 6 Days on Market
  • MLS # : IV21032277
  • Updated Date : 02/16/2021 at 13:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,721 sqft
  • Baths : 2 full
Listing Agent

Westcoe Realtors Inc

Listing Agent's Description

Original Owner Retiring from this impecable 4 bedroom/2 bath home sitting on almost half an acre. Zoned for animals, with a 3 car garage. RV Potential on the side of the property leads to a huge, landscaped, low maintenance back yard with large storage shed. Water Resistant Landscaping in front with a small patch of grass makes this property low maintenance with drip irrigation to maintain while you are away. A covered front sitting porch and back yard covered patio for enjoying the evening breezes. Entering the home, not only is there a "Great Room" for entertaining, there is also a family room off the kitchen for family to watch TV while enjoying the fireplace. Carpet has been replaced recently through-out most of the living area (except bedrooms)...Check out all the cabinets and storage in the 3 Car Garage... Property shows well and has been well loved and maintained by it's current owner. VERY LOW Tax Rate with NO HOA or MELLO ROOS makes this an even better purchase... Freeway close for Commuters whether you are wanting the 60, 10 or 15 Freeways!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Benedict Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k568k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Benedict Estates

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21000110012001300140015001600170018001900200021002200Rent in $9672200

* 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
Jurupa Middle School Middle Regular 1,236 47 5
Patriot High School High Regular 2,094 82 6
Jurupa Middle School Middle Unknown NA

Jurupa Middle School

  • Education Level: Middle
  • # of students: 1,236
  • # of teachers: 47
5
GreatSchools Rating

Patriot High School

  • Education Level: High
  • # of students: 2,094
  • # of teachers: 82
6
GreatSchools Rating

Jurupa Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,824
Property Tax -$498
Property Insurance -$69
Property Management Fees -$122
CASH FLOW
-$452

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.

$525,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,209

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0603$2,2754$2,450
$2,450
RENT COMPS ANALYSIS
  • 6644 Gillam Street Jurupa Valley, CA 2
    • 4 beds 2 baths ∙ 1,721 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,721 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.20
    •  
  • 11707 Cricket Drive Bloomington, CA 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1980
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.26
    •  
  • 16963 El Agua Drive Fontana, CA 3
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 1998
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.28
    •  
  • 11144 Daylilly Street Fontana, CA 4
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 2002
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.31
    •  
PROPERTY LISTING DETAILS
Mona Salgado-perez
Westcoe Realtors Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21032277
Last Updated: 02/16/2021
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