Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

129 W M Street Colton, CA 92324

3 Beds 2 Baths 1,183 sqft Built 2021

$389,888

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $329.58
  • 4 Days on Market
  • MLS # : CV21018897
  • Updated Date : 01/29/2021 at 08:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,183 sqft
  • Baths : 2 full
Listing Agent

Steven F. Valverde Jr., Broker

Listing Agent's Description

Honey STOP the Car!! NEW NEW NEW Construcstion.BEST PRICED New Home under $400,000 Single Family Residence. Open Floor Plan High 9ft Cielings Will Qualify for FHA Financing.Matserbedroom Features Soaking Tub,Large Full length Mirrior, Seperate shower features rain showerhead & pebblestone flooring. EXTRA large walk in closet. All rooms include oversize closets and EXTRA storage space. Indoor washer dryer hookups. Microwave, Dishwasher, Stove included. Call today and set an appointment ask about Down payment assistance program.

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: 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
Terrace Hills Middle School Middle Regular 1,038 40 3
Grand Terrace High School High Unknown 2,347 92 4
Terrace Hills Middle School Middle Unknown NA

Terrace Hills Middle School

  • Education Level: Middle
  • # of students: 1,038
  • # of teachers: 40
3
GreatSchools Rating

Grand Terrace High School

  • Education Level: High
  • # of students: 2,347
  • # of teachers: 92
4
GreatSchools Rating

Terrace Hills Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$350,899$428,877$389,888

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,354
Property Tax -$425
Property Insurance -$56
Property Management Fees -$99
CASH FLOW
-$525

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 8% of earned rent to cover both maintenance and periods of vacancy.

$389,888

PROJECTED PRICE

$1,410

PROJECTED RENT

0.36%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$105,320

INVESTMENT

$105,320

Down Payment
$97,472
Rehab Estimate
$2,000
Closing Costs
$5,848

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,472
Loan Amount $292,416
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$72

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$2,000
$2,000
RENT COMPS ANALYSIS
  • 129 W M Street Colton, CA 1
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.19
    •  
  • 125 Orangewood Street Colton, CA 2
    • 4 beds 2 baths ∙ 1,359 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,359 Sqft ∙ Built 2018
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.47
    •  
PROPERTY LISTING DETAILS
Steven Valverde
Steven F. Valverde Jr., Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21018897
Last Updated: 01/29/2021
BESbswy