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10448 Finch Avenue Rancho Cucamonga, CA 91737

4 Beds 2 Baths 1,696 sqft Built 1986

$560,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $330.19
  • 2 Days on Market
  • MLS # : CV20256372
  • Updated Date : 12/12/2020 at 09:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Wheeler Steffen Sotheby's Int.

Listing Agent's Description

Charming single-story 4 bedroom, 2 bathroom home in a highly desirable Rancho Cucamonga neighborhood. This beautiful home welcomes you inside with its high vaulted ceiling, open concept floorplan, new laminate wood flooring, new carpet, and dual pane windows.. Cook for your family and friends in the kitchen that features updated cabinetry, granite countertops, a built-in microwave, and refrigerator. There is a spacious main bedroom and three additional bedrooms. The large and open back yard is perfect for entertaining your guests and offers a retractable covered patio, water conserving hardscape, and large producing fruit trees. The two-car garage boasts lots of space, an updated Lennox HVAC system and a brand new water heater. The landscape is very well maintained in both the front and back yard offering great curb appeal to go along with the other homes located on in this lovely community. This is a great opportunity to buy in this highly desirable neighborhood with no HOA. Conveniently close to parks, shopping, exceptional schools, and minutes away from Victoria Gardens Mall.

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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: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $149k785k

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

Neighborhood: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822925

* 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
Deer Canyon Elementary School Primary Regular 630 21 8
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9

Deer Canyon Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 21
8
GreatSchools Rating

Vineyard Junior High School

  • Education Level: Middle
  • # of students: 752
  • # of teachers: 27
9
GreatSchools Rating

Los Osos High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 114
9
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,066
Property Tax -$534
Property Insurance -$68
Property Management Fees -$149
CASH FLOW
-$297

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.

$560,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.45%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$17,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,493

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,5004$2,5205$2,650
$2,650
RENT COMPS ANALYSIS
  • 10448 Finch Avenue Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.49
    •  
  • 6141 Valinda Avenue Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,656 Sqft ∙ Built 1987
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.36
    •  
  • 10965 Santa Barbara Place Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1988
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.48
    •  
  • 6763 Berkshire Avenue Rancho Cucamonga, CA 3
    • 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1977
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.53
    •  
  • 10423 Cartilla Court Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1979
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.51
    •  
PROPERTY LISTING DETAILS
Lisa Sheasby
Wheeler Steffen Sotheby's Int.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20256372
Last Updated: 12/12/2020
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