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PROPERTY INFO
FACTS
- Single Family
- Built In 1906
- Price/Sqft : $318.09
- 4 Days on Market
- MLS # : TR20264418
- Updated Date : 12/31/2020 at 12:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,100 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Top Team
Listing Agent's Description
BEAUTIFUL HOME COMPLETELY REMODELED. Great for First Time Buyers!!!!. Property features: 3 Bedrooms and 2 Bathroom, the property is 1,100 SF when was measured. Beautiful new laminate wood flooring in the Living Room and Bedrooms. Beautiful tile flooring in the Kitchen and Bathroom, New Kitchen cabinets, New exterior and interior paint. Detached one car garage with a long back yard for plenty off-street parking with alley access. Roof was replaced about 8 years ago. Location is outstanding, with easy access to the 10 freeway. City Hall, Police Dept. and Library near the property. Ready to move in! Don’t miss this opportunity. This home is a must see!
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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: Downtown Colton
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Downtown Colton
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,830 |
| EXPENSES | Loan Payment | -$1,291 |
| Property Tax | -$382 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$108 | |
|
CASH FLOW
-$5
|
||
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.
$349,900
PROJECTED PRICE
$1,830
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.76% |
| Appreciation Year (1-5) | 10.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.41% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,474
LOAN DETAILS
$1,291
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
5.5
YEARS SAVED
$24,984
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,830
LIST RENT -
$1.66
LIST RENT PER SQFT
-
$1,947
COMP ESTIMATED VALUE -
$1.77
COMP AVG. RENT PER SQFT
Comps Range
-
128 E F Street Colton, CA 2
- 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1906 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1906
- Rent
- Rent Per SQFT
- $1,830
- $1.66
-
252 W K Street Colton, CA 1
- 3 beds 1 baths ∙ 760 Sqft ∙ Built 1920 3 beds 1 baths ∙ 760 Sqft ∙ Built 1920
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,250
- $1.64
-
748 W E Street Colton, CA 3
- 4 beds 2 baths ∙ 1,024 Sqft ∙ Built 1926 4 beds 2 baths ∙ 1,024 Sqft ∙ Built 1926
LEASED 11/01/19- Rent
- Rent Per SQFT
- $1,950
- $1.90
PROPERTY LISTING DETAILS
Coldwell Banker Top Team
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR20264418
Last Updated: 12/31/2020
