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1282 Michael Darcy Street Colton, CA 92324

4 Beds 3 Baths 1,854 sqft Built 1999

$450,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $242.72
  • 5 Days on Market
  • MLS # : DW20262327
  • Updated Date : 12/23/2020 at 22:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,854 sqft
  • Baths : 3 full
Listing Agent

Luis A Bautista

Listing Agent's Description

BEATIFUL PROPERTY NESTLED IN THE CITY OF COLTON!! ONE OF A KIND TRULY!! THIS PROPERTY HAS BEEN MAGNIFICENTLY UPGRADED!! REALLY NICED LANDSCAPTED AND DECORATED. SELLER RECENTLY MADE SEVERAL UPGRADES TO THE PROPERTY AND IT REALLY IS LOOKING GORGEUS! THIS IS A MUST SEE PROPERTY, LOCATED IN AT THE END OF A CUL-DE-SAC STREET. FRENCH DOORS WITH A BIG BEAUTIFUL WINDOW FACING THE STREET. LAMINATED FLOORING ALL THROUGH-OUT THE HOUSE, RECENTLY PAINTED IN AN OUT. KITCHEN REMODELED AS WELL. BACKYARD IS BEATIFULLY UPGRADED WITH 2 PATIOS, ONE ATTACHED RIGHT OFF THE DINING AREA, AND THE 2ND ONE DETACHED, LOCATED IN A CORNER WITH BUILT-IN BAR-B-Q, CONNECTION FOR MINI-FRIDGE, AND GRANITE COUNTER TOPS, ALL WELL EQUIPPED WITH SORROUND SYSTEM CONNECTIONS. THIS IS THE PERFECT BACKYARD FOR SMALL GATHERINGS TO ENJOY ALL WEEK LONG. THIS IS REALLY A MUST SEE PROPERTY!!

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: Colton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k459k

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

Neighborhood: Colton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Garcia Elementary School Primary Regular 713 24 3
Jehue Middle School Middle Regular 1,401 51 2
Rialto High School High Regular 2,881 121 5

Garcia Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 24
3
GreatSchools Rating

Jehue Middle School

  • Education Level: Middle
  • # of students: 1,401
  • # of teachers: 51
2
GreatSchools Rating

Rialto High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 121
5
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,660
Property Tax -$504
Property Insurance -$72
Property Management Fees -$142
CASH FLOW
$22

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.

$450,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$35,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,398

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,400
$2,400
RENT COMPS ANALYSIS
  • 1282 Michael Darcy Street Colton, CA 4
    • 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.29
    •  
  • 1203 Highland Avenue Colton, CA 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
  • 652 N Birch Avenue Rialto, CA 2
    • 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 1989
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.26
    •  
  • 1284 Janes Way Colton, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
PROPERTY LISTING DETAILS
Luis Bautista
Luis A Bautista
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW20262327
Last Updated: 12/23/2020
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