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6842 Narrow Way Jurupa Valley, CA 91752

3 Beds 2 Baths 1,942 sqft Built 2017

$559,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $288.31
  • 7 Days on Market
  • MLS # : CV20231103
  • Updated Date : 11/07/2020 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,942 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

GORGEOUS SINGLE STORY HOME! Located in the Riverbend Community by Lennar. Seller has spent thousands in upgrades in this beautiful home only 3 years old built in 2017. Features a Spacious floor plan 3 Large Bedrooms and 2 Full Bathrooms. Gorgeous Kitchen with an extra large Granite Island and Granite Counter Tops in the kitchen. Upgraded stainless steel appliances, beautiful white cabinets and a large walk in pantry. Oversized family room with a cozy fireplace and vaulted ceilings and a separate dining area right off the kitchen. Comes with solar panels that are leased. Large master bedroom suite with spacious walk -in closet, and master bathroom with dual sinks and oversized romantic soaking tub and separate shower. Spacious in door laundry room with lots of storage space. Two car garage with direct access, close to shopping center, schools, parks, restaurants and easy access to the 15 freeway. Riverbend community offers park, picnic areas, a river themed tot lot and basketball courts. AWARD WINNING CORONA -NORCO UNIFIED SCHOOL DISTRICT. This is one of the most desirable single story floor plans Lennar had to offer because of his excellent layout and open floor plan. Low Maintenance landscaping and beautiful retaining walls with gorgeous rock work in the backyard. Large built in bar-be-que area with the same gorgeous stone work as the retaining walls. Has an oversize side yard that that has been completely concreted make a great place for your RV.SEE THE 3D VIRTUAL TOUR

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: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $116k537k

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

Neighborhood: Mira Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9112487

* 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
Louis Vandermolen Fundamental Elementary School Primary Regular 1,080 41 5
River Heights Intermediate School Middle Regular 1,052 37 7
Eleanor Roosevelt High School High Regular 3,868 134 8

Louis Vandermolen Fundamental Elementary School

  • Education Level: Primary
  • # of students: 1,080
  • # of teachers: 41
5
GreatSchools Rating

River Heights Intermediate School

  • Education Level: Middle
  • # of students: 1,052
  • # of teachers: 37
7
GreatSchools Rating

Eleanor Roosevelt High School

  • Education Level: High
  • # of students: 3,868
  • # of teachers: 134
8
GreatSchools Rating
 

$503,910$615,890$559,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,066
Property Tax -$685
Property Insurance -$74
HOA -$76
Property Management Fees -$139
CASH FLOW
-$680

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.

$559,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

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$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$533

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,384

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3603$2,5004$2,6005$2,690
$2,690
RENT COMPS ANALYSIS
  • 6842 Narrow Way Jurupa Valley, CA 2
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.22
    •  
  • 6349 Amadora Lane Eastvale, CA 1
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 2009
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.14
    •  
  • 12506 Ventosa Lane Eastvale, CA 3
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 12581 Cipriano Lane Eastvale, CA 4
    • 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,075 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.25
    •  
  • 6492 Marigold Street Eastvale, CA 5
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1999
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,690
    • $1.32
    •  
PROPERTY LISTING DETAILS
Dana Mccausland
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231103
Last Updated: 11/07/2020
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