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12204 N Mainstreet #3 Rancho Cucamonga, CA 91739

3 Beds 3 Baths 1,650 sqft Built 2004

$559,888

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $339.33
  • 5 Days on Market
  • MLS # : PW21143417
  • Updated Date : 07/10/2021 at 14:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

GORGEOUS TURNKEY HOME!!! This Open Floor plan 3 bedroom 2.5 bath home with a Den/Office downstairs is located in a highly sought-after Strathmore Gated Community Across from Victoria Gardens. This corner unit home features a kitchen that boasts of quartz counter tops with a beautiful tile backsplash. The entire downstairs has beautiful laminate wood flooring and upgraded baseboards, NEW paint and carpet throughout the entire home, abundance of ceiling fans throughout the home as well a large patio for entertaining. This community features a beautiful sparkling Pool, Spa, Park, Bbq and well maintained grounds. Not only are you in a Top school district , across the street is great shopping and dining at Victoria Gardens. LOW HOA !! THIS IS A MUST SEE !!!!

SEE MORE

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: 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
Terra Vista Elementary School Primary Regular 772 31 10
Etiwanda Intermediate School Middle Regular 1,305 51 8
Rancho Cucamonga High School High Regular 3,462 123 9

Terra Vista Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 31
10
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
 

$503,899$615,877$559,888

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,945
Property Tax -$629
Property Insurance -$67
HOA -$235
Property Management Fees -$139
CASH FLOW
-$665

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.

$559,888

PROJECTED PRICE

$2,350

PROJECTED RENT

0.42%

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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$154,120

INVESTMENT

$154,120

Down Payment
$139,972
Rehab Estimate
$5,750
Closing Costs
$8,398

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,972
Loan Amount $419,916
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $2,537

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 12204 N Mainstreet San Bernardino, CA 1
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.42
    •  
  • 12215 N Mainstreet Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.55
    •  
  • 7691 Creole Place Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,560 Sqft ∙ Built 2007
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.60
    •  
  • 11846 Gloucester Dr Rancho Cucamonga, CA 4
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1999
    LEASED 05/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.48
    •  
  • 12366 Hollyhock Drive Rancho Cucamonga, CA 5
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2009
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.52
    •  
PROPERTY LISTING DETAILS
Edward Ramm
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21143417
Last Updated: 07/10/2021
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