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12655 Elk Cove Court Rancho Cucamonga, CA 91739

4 Beds 3 Baths 2,700 sqft Built 2004

$759,900

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $281.44
  • 5 Days on Market
  • MLS # : IV21044599
  • Updated Date : 03/03/2021 at 15:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,700 sqft
  • Baths : 3 full
Listing Agent

Robert Arrieta, Broker

Listing Agent's Description

Victoria Gardens area beauty, 4-5 bdrms plus a loft & 3 baths, 3 car garage has a tandem that is a builder option for an additional room included in sq footage. Walk across the street to Victoria Gardens, this home has lots of new & newer upgrades. PLEASE SEE THE PHOTOS

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Perdew Elementary School Primary Regular 811 32 8
Etiwanda Intermediate School Middle Regular 1,305 51 8
Rancho Cucamonga High School High Regular 3,462 123 9

Perdew Elementary School

  • Education Level: Primary
  • # of students: 811
  • # of teachers: 32
8
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
 

$683,910$835,890$759,900

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$2,639
Property Tax -$854
Property Insurance -$93
Property Management Fees -$169
CASH FLOW
-$895

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.

$759,900

PROJECTED PRICE

$2,860

PROJECTED RENT

0.38%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

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$207,124

INVESTMENT

$207,124

Down Payment
$189,975
Rehab Estimate
$5,750
Closing Costs
$11,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,639

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $189,975
Loan Amount $569,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,889

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8503$2,8604$2,9505$2,950
$2,950
RENT COMPS ANALYSIS
  • 12655 Elk Cove Court Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $1.06
    •  
  • 7613 Pinot Place Rancho Cucamonga, CA 1
    • 5 beds 3 baths ∙ 2,502 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,502 Sqft ∙ Built 2003
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.06
    •  
  • 7658 Dante Place Rancho Cucamonga, CA 2
    • 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,537 Sqft ∙ Built 2011
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.12
    •  
  • 12825 Silver Rose Court Rancho Cucamonga, CA 4
    • 5 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.05
    •  
  • 12872 Silver Rose Court Rancho Cucamonga, CA 5
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2005
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.05
    •  
PROPERTY LISTING DETAILS
Robert Arrieta
Robert Arrieta, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21044599
Last Updated: 03/03/2021
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