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11618 Placid Ct Colton, CA 92324

3 Beds 2 Baths 2,313 sqft Built 1964

$525,000

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $226.98
  • 7 Days on Market
  • MLS # : IV20263533
  • Updated Date : 01/01/2021 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,313 sqft
  • Baths : 2 full
Listing Agent

Premier Realty Group Services

Listing Agent's Description

Have you been looking for the perfect secluded retreat at a price that wont break the bank?? Well we have the perfect property for you. Situated in one of the most prestigious parts of Richie Canyon this 1.2 acer estate comes fully loaded with all the amenities and luxuries that you can desire. Weather it is cooling off in the custom built rock feature pool with an amazing cave waterfall, enjoying a warm evening of hot coco next to your beautiful living room fire, or storing that brand new 65 foot boat or Toy Hauler this property truly has it all. Fully equipped with brand new high grade flooring, solar, granite countertops, rock jacuzzi, custom rock slide, outdoor grill, enormous storage shed, new title work in the bathrooms, and so much more this property is waiting for you to make it your own. With the ability to subdivide the property into 3 parcels you can also make this property into a long term investment with our ever increasing demand for quality buildable land. This home is projected to go quick so don't delay! For any specific questions please contact myself via email or phone listed below. Good Luck!!! ALSO DON'T FORGET TO CHECK OUT THE VIRTUAL TOUR AVAILABLE IN THE LINK!! :)

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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: Reche Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $105k564k

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

Neighborhood: Reche Canyon

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001200140016001800200022002400Rent in $9742540

* 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
Reche Canyon Elementary School Primary Regular 625 27 4
Reche Canyon Elementary School Middle Regular 625 27 4
Grand Terrace High School High Unknown 2,347 92 4

Reche Canyon Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 27
4
GreatSchools Rating

Reche Canyon Elementary School

  • Education Level: Middle
  • # of students: 625
  • # of teachers: 27
4
GreatSchools Rating

Grand Terrace High School

  • Education Level: High
  • # of students: 2,347
  • # of teachers: 92
4
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,937
Property Tax -$628
Property Insurance -$83
Property Management Fees -$149
CASH FLOW
-$268

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.

$525,000

PROJECTED PRICE

$2,530

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$5.0k$0.0$5.0k$10k$15k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$16,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,544

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,5003$2,5304$3,000
$3,000
RENT COMPS ANALYSIS
  • 11618 Placid Ct Colton, CA 3
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.09
    •  
  • 25021 Fern Avenue Loma Linda, CA 1
    • 3 beds 1 baths ∙ 2,198 Sqft ∙ Built 1964 3 beds 1 baths ∙ 2,198 Sqft ∙ Built 1964
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.99
    •  
  • 25130 Daisy Avenue Loma Linda, CA 2
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 1964
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.10
    •  
  • 1290 Cahuilla Street Colton, CA 4
    • 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,470 Sqft ∙ Built 1969
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.21
    •  
PROPERTY LISTING DETAILS
Clinton Bozner
Premier Realty Group Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20263533
Last Updated: 01/01/2021
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