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12612 17th Street Chino, CA 91710

4 Beds 2 Baths 1,246 sqft Built 1963

$500,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $401.28
  • 3 Days on Market
  • MLS # : IG20255548
  • Updated Date : 12/11/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Single story home in a nicely kept neighborhood. Much of the house has already been remodeled, just waiting on your finishing touches. The kitchen has Granite countertops and upgraded cabinets plus stainless steel stove/oven and vent. The popcorn ceiling has been removed and recessed lighting has been installed in the kitchen. Both bathrooms have new vanities and tile surrounds. There is a fireplace in the living room with a sliding door going out to the large fenced backyard. This one won't last

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: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Walnut Avenue Elementary School Primary Regular 721 27 3
Magnolia Junior High School Middle Regular 684 30 3
Chino High School High Regular 2,369 99 5

Walnut Avenue Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 27
3
GreatSchools Rating

Magnolia Junior High School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 30
3
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,845
Property Tax -$458
Property Insurance -$57
Property Management Fees -$136
CASH FLOW
-$196

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.

$500,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
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$1.6M

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$21,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.85

    LIST RENT PER SQFT
  • $1,966

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1503$2,3004$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 12612 17th Street Chino, CA 4
    • 4 beds 2 baths ∙ 1,246 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,246 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.85
    •  
  • 1128 Pinewood Lane Ontario, CA 1
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.49
    •  
  • 1132 Pinewood Lane Ontario, CA 2
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.60
    •  
  • 6025 Ida Court Chino, CA 3
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.62
    •  
  • 12662 Verdugo Avenue Chino, CA 5
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1972
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.60
    •  
PROPERTY LISTING DETAILS
Michele Steeber
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20255548
Last Updated: 12/11/2020
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