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12991 Fern Avenue Chino, CA 91710

3 Beds 4 Baths 2,414 sqft Built 2017

$660,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $273.41
  • 3 Days on Market
  • MLS # : TR21024976
  • Updated Date : 02/06/2021 at 22:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,414 sqft
  • Baths : 4 full
Listing Agent

Real Estate Ebroker Inc.

Listing Agent's Description

Don't miss out on this beautiful home. Over $70K in upgrades and custom modifications. Close to shopping, restaurants and freeways. Plantation Shutters, upgraded custom cabinets, upgraded sinks and faucets. Convenient open layout, LARGER yard than the other homes with a covered, shaded patio; PERFECT for entertaining. CALIFORNIA ROOM with ceiling fan gives you added space to enjoy the lovely weather. Rare 3 car attached garage, community pool and MORE. Bring your buyers quickly before it's gone.

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: 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
Magnolia Junior High School Middle Regular 684 30 3
Chino High School High Regular 2,369 99 5

Magnolia Junior High School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 30
3
GreatSchools Rating

Chino High School

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

$594,000$726,000$660,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,292
Property Tax -$631
Property Insurance -$86
HOA -$136
Property Management Fees -$159
CASH FLOW
-$605

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.

$660,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,650

INVESTMENT

$180,650

Down Payment
$165,000
Rehab Estimate
$5,750
Closing Costs
$9,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,292

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $165,000
Loan Amount $495,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,873

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,6503$2,7004$2,7505$3,100
$3,100
RENT COMPS ANALYSIS
  • 12991 Fern Avenue Chino, CA 3
    • 3 beds 4 baths ∙ 2,414 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,414 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
  • 12990 Red Cedar Way Chino, CA 1
    • 3 beds 3 baths ∙ 2,135 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,135 Sqft ∙ Built 2017
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.19
    •  
  • 12875 Cedro Avenue Chino, CA 2
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2018
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.21
    •  
  • 6962 Silverado Street Chino, CA 4
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2019
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.22
    •  
  • 6916 Old Mill Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 2,713 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,713 Sqft ∙ Built 2019
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.14
    •  
PROPERTY LISTING DETAILS
Samala Bernier
Real Estate Ebroker Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21024976
Last Updated: 02/06/2021
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