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12940 Bermuda Avenue Chino, CA 91710

3 Beds 3 Baths 1,824 sqft Built 2002

$538,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $294.96
  • 4 Days on Market
  • MLS # : TR20233405
  • Updated Date : 11/05/2020 at 10:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,824 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Universal Realty

Listing Agent's Description

This beautiful home is located in a nice area of Chino. Brand new carpet with newly painted walls, this home features 3 bedrooms plus a loft which can be used as a 4th bedroom, 2.5 bathrooms. As you enter, you are greeted in the large living room. Open floor plan with a bright and airy kitchen. Recessed lighting, breakfast island with sinks. All bedrooms are on the second level. The spacious master suite complete with a walk-in closet and double sinks private bathroom. Convenient inside laundry room. It has laminated wood flooring throughout the first floor. With a nice size of the backyard, you will appreciate the low maintenance. Low HOA due includes exterior paint, front yard gardening, and common areas. Great curb appeal, 2 car garage. The kids will enjoy the community playground. Convenient to Shopping Center, schools, and easy access to 60 FWY. Must see!!

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: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Howard Cattle Elementary School Primary Regular 695 24 4
Howard Cattle Elementary School Middle Regular 695 24 4
Chino High School High Regular 2,369 99 5

Howard Cattle Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 24
4
GreatSchools Rating

Howard Cattle Elementary School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 24
4
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$484,200$591,800$538,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,985
Property Tax -$493
Property Insurance -$71
HOA -$210
Property Management Fees -$135
CASH FLOW
-$604

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.

$538,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

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

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$148,320

INVESTMENT

$148,320

Down Payment
$134,500
Rehab Estimate
$5,750
Closing Costs
$8,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,500
Loan Amount $403,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,522

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,2953$2,3004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 12940 Bermuda Avenue Chino, CA 1
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.26
    •  
  • 12835 Conifer Avenue Chino, CA 2
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.37
    •  
  • 6977 Resina Street Chino, CA 3
    • 3 beds 3 baths ∙ 1,667 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,667 Sqft ∙ Built 2006
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.38
    •  
  • 6835 Arthur Court Chino, CA 4
    • 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.29
    •  
  • 12707 Conifer Avenue Chino, CA 5
    • 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,676 Sqft ∙ Built 2002
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.49
    •  
PROPERTY LISTING DETAILS
Po Ju Chen
Re/max Universal Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20233405
Last Updated: 11/05/2020
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