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7049 Raymond Drive Eastvale, CA 92880

5 Beds 3 Baths 2,400 sqft Built 2004

$652,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $271.67
  • 3 Days on Market
  • MLS # : IG20244053
  • Updated Date : 11/21/2020 at 16:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,400 sqft
  • Baths : 2 full , 1 half
Listing Agent

Provident Real Estate

Listing Agent's Description

Searching for a home that has it all? This is the home for you! Wonderful Eastvale Pool Home! From the moment you step through the front door, it feels like home. Upon entry, you are greeted by the formal living and dining rooms that have upgraded wood tile flooring. The large family room is open to the kitchen where you will find new stainless steel appliances, granite countertops, and a spectacular oversized island with additional seating to entertain your guests. One bedroom and full bathroom located on the first floor, ideal for overnight guests. Upstairs you will find upgraded laminate flooring throughout the 4 additional bedrooms. The master suite showcases a spacious en-suite with dual sinks, large soaking tub, and a generous walk-in closet. Enjoy the California sunshine in this private backyard boasting a beautiful pool, spa and cabana area. Two car garage with epoxy flooring! No HOA! Low tax rate, estimated to be 1.4%. Well situated within close distance to award winning schools, parks, popular Eastvale shopping centers and MORE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Eastvale Elementary School Primary Regular 1,396 49 9
Eastvale Elementary School Middle Regular 1,396 49 9
Eleanor Roosevelt High School High Regular 3,868 134 8

Eastvale Elementary School

  • Education Level: Primary
  • # of students: 1,396
  • # of teachers: 49
9
GreatSchools Rating

Eastvale Elementary School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 49
9
GreatSchools Rating

Eleanor Roosevelt High School

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

$586,800$717,200$652,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,406
Property Tax -$789
Property Insurance -$85
Property Management Fees -$158
CASH FLOW
-$758

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.

$652,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.41%

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$178,530

INVESTMENT

$178,530

Down Payment
$163,000
Rehab Estimate
$5,750
Closing Costs
$9,780

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,406

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $163,000
Loan Amount $489,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,742

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6803$2,7004$2,7255$3,000
$3,000
RENT COMPS ANALYSIS
  • 7049 Raymond Drive Eastvale, CA 2
    • 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,400 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.12
    •  
  • 12846 Mustang Street Eastvale, CA 1
    • 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 2002
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.07
    •  
  • 7028 Terrapin Way Eastvale, CA 3
    • 4 beds 4 baths ∙ 2,245 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,245 Sqft ∙ Built 2017
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.20
    •  
  • 12167 Rhone Ct Jurupa Valley, CA 4
    • 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,409 Sqft ∙ Built 2017
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.13
    •  
  • 12907 Luna St Eastvale, CA 5
    • 4 beds 4 baths ∙ 2,570 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,570 Sqft ∙ Built 2016
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Nazar Kalayji
Provident Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20244053
Last Updated: 11/21/2020
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