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10804 Modoc Street Rancho Cucamonga, CA 91701

4 Beds 3 Baths 2,100 sqft Built 1987

$675,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $321.43
  • 3 Days on Market
  • MLS # : CV20256244
  • Updated Date : 12/11/2020 at 19:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 3 full
Listing Agent

Homesmart, Evergreen Realty

Listing Agent's Description

Absolutely turn key dream home with LOADS of upgrades!! Prepare to be impressed with no detail spared in this gorgeous North Rancho Cucamonga home. You will love the hardwood flooring and tile throughout the first level of the home. Enjoy upgraded dual paned vinyl windows throughout, neutral paint, roman shades, plantation shutters, ceiling fans in every room, and remodeled kitchen with granite and stainless appliances. Owner has extra square footage added to 2 areas on the home, so this home is unique and is unlike any in its area. Upgrades further include tastefully updated bathrooms, master suite w separate tub/walk in shower, and mirrored walk in closet. Crown molding throughout, downstairs bedroom could be perfect for a guest or in law area as there is a full downstairs bathroom, huge lot with RV parking 8ft x 72ft space for all of your toys! 3 car garage and just minutes to the freeway for all of your commuting needs! This one is sure to go quickly, see it today!

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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: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k597k

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

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822522

* 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
Victoria Groves Elementary School Primary Regular 534 21 8
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9

Victoria Groves Elementary School

  • Education Level: Primary
  • # of students: 534
  • # 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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$2,490
Property Tax -$664
Property Insurance -$78
Property Management Fees -$160
CASH FLOW
-$673

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.

$675,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.7%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$4,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $2,882

    COMP ESTIMATED VALUE
  • $1.37

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7203$2,8804$2,9005$3,150
$3,150
RENT COMPS ANALYSIS
  • 10804 Modoc Street Rancho Cucamonga, CA 2
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.30
    •  
  • 6872 Palermo Place Rancho Cucamonga, CA 1
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1989
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.28
    •  
  • 11457 Genova Road Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,186 Sqft ∙ Built 1989
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.32
    •  
  • 6856 Padova Court Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 1989
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.42
    •  
  • 11268 Skyview Lane Rancho Cucamonga, CA 5
    • 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,144 Sqft ∙ Built 1994
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.47
    •  
PROPERTY LISTING DETAILS
Terri Barrett
Homesmart, Evergreen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20256244
Last Updated: 12/11/2020
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