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12924 Chestnut Avenue Rancho Cucamonga, CA 91739

3 Beds 1 Baths 1,092 sqft Built 1964

$439,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $402.84
  • 3 Days on Market
  • MLS # : CV20230637
  • Updated Date : 11/02/2020 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 full
Listing Agent

Mary Jane Garcia, Broker

Listing Agent's Description

Centrally located within the Etiwanda area of Rancho Cucamonga in the award winning Etiwanda School District just minutes from Victoria Gardens. Updated kitchen and bathrooms with granite counter tops throughout. Newer flooring and carpet. New window blinds. Newer vinyl dual pane windows. Brand new air conditioning unit. Ceiling fans throughout. Covered Patio & Large lot.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

PRICE & RENT TRENDS

Neighborhood: Southeast Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $116k670k

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

Neighborhood: Southeast Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100012001400160018002000220024002600Rent in $9112688

* 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
Etiwanda High School High Regular 3,458 126 8

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

Etiwanda High School

  • Education Level: High
  • # of students: 3,458
  • # of teachers: 126
8
GreatSchools Rating
 

$395,910$483,890$439,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,623
Property Tax -$394
Property Insurance -$54
Property Management Fees -$123
CASH FLOW
-$114

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.

$439,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 5.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$22,403

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.9

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,1003$2,200
$2,200
RENT COMPS ANALYSIS
  • 12924 Chestnut Avenue Rancho Cucamonga, CA 1
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.90
    •  
  • 8015 Henbane Street Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,250 Sqft ∙ Built 1974
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.68
    •  
  • 12339 Sweetgum Drive Rancho Cucamonga, CA 3
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 1984
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.72
    •  
PROPERTY LISTING DETAILS
Mary Jane Garcia
Mary Jane Garcia, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20230637
Last Updated: 11/02/2020
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