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7068 Jasmine Court Rancho Cucamonga, CA 91739

3 Beds 2 Baths 949 sqft Built 1984

$519,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $547.84
  • 11 Days on Market
  • MLS # : IV20259557
  • Updated Date : 12/22/2020 at 18:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 949 sqft
  • Baths : 2 full
Listing Agent

Re/max Champions

Listing Agent's Description

Beautiful remodeled 3 bedroom 2 bath located near Victoria Gardens. Looks like a model home you'll be impressed from the moment you walk in. Remodeled kitchen that has been opened up to the dining area. New Laminate flooring throughout, new dual pane windows throughout, newly painted interior and exterior, fairly new roof, new aluminum patio, stainless steel appliances. This is a must see you will fall in love.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k628k

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

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822537

* 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
Windrows Elementary School Primary Regular 639 27 9
Etiwanda Intermediate School Middle Regular 1,305 51 8
Rancho Cucamonga High School High Regular 3,462 123 9

Windrows Elementary School

  • Education Level: Primary
  • # of students: 639
  • # of teachers: 27
9
GreatSchools Rating

Etiwanda Intermediate School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 51
8
GreatSchools Rating

Rancho Cucamonga High School

  • Education Level: High
  • # of students: 3,462
  • # of teachers: 123
9
GreatSchools Rating
 

$467,910$571,890$519,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,918
Property Tax -$543
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$611

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.

$519,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,149

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $2.13

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,1003$2,1954$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 7068 Jasmine Court Rancho Cucamonga, CA 1
    • 3 beds 2 baths ∙ 949 Sqft ∙ Built 1984 3 beds 2 baths ∙ 949 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $2.13
    •  
  • 11939 Hemlock Street Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,198 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,198 Sqft ∙ Built 1974
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.75
    •  
  • 6863 Hudson Court Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1987
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.74
    •  
  • 12339 Sweetgum Drive Rancho Cucamonga, CA 4
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1984
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.72
    •  
  • 12428 Lily Court Rancho Cucamonga, CA 5
    • 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,280 Sqft ∙ Built 1986
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.76
    •  
PROPERTY LISTING DETAILS
Laura Diaz
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20259557
Last Updated: 12/22/2020
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