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13068 Vine Street Rancho Cucamonga, CA 91739

3 Beds 1 Baths 1,066 sqft Built 1964

$399,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $375.14
  • 4 Days on Market
  • MLS # : PW20259979
  • Updated Date : 12/24/2020 at 20:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,066 sqft
  • Baths : 1 full
Listing Agent

Re/max Empire Properties

Listing Agent's Description

Please view the 3D tour https://view.3dtours.biz/bc4fd1c5/st/3d-walk-through/ Here it is! A rare opportunity to live in Rancho Cucamonga and make this house your home. This single story 3 bedroom 1 bathroom home offers 1066 square feet of moldable clay for you to do with as your heart desires on an enormous 10692 square foot lot with two car attached garage AND to help get the ball rolling, a BRAND NEW ROOF has just been installed. The front yard is quite large featuring a combination of chain link and wood fencing around the home. The interior has a great open floor plan. This home does need some love but who doesn't in these trying times?! Here sits your chance to purchase a home and update it to your needs OR you can add this to your rental portfolio; the options truly are endless with this hidden gem. The kitchen is off of the living room and provides a great area for a remodel or refreshing with a good amount of existing cabinet and counter space complete with a free standing range and stainless steel sink. The living room is a good size with hardwood floors, a beautiful brick wood burning fireplace and sliding door access into the very large backyard. The hallway bathroom features a shower/tub combo and the 3 bedrooms are all good size. Nestled in an area of Rancho Cucamonga that has very limited inventory, this provides an opportunity that simply rarely exists in Rancho Cucamonga. Opportunities like this one don't always present themselves

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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: 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,475
Property Tax -$358
Property Insurance -$53
Property Management Fees -$118
CASH FLOW
-$5

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.

$399,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$29,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.88

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,200
$2,200
RENT COMPS ANALYSIS
  • 13068 Vine Street Rancho Cucamonga, CA 1
    • 3 beds 1 baths ∙ 1,066 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,066 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.88
    •  
  • 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
    property image
    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
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.72
    •  
PROPERTY LISTING DETAILS
Chris Murray
Re/max Empire Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20259979
Last Updated: 12/24/2020
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