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13451 Joshua Place Chino, CA 91710

3 Beds 2 Baths 1,572 sqft Built 1985

$599,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $381.04
  • 4 Days on Market
  • MLS # : TR20248843
  • Updated Date : 12/04/2020 at 12:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,572 sqft
  • Baths : 2 full
Listing Agent

Remax 2000 Realty

Listing Agent's Description

Totally Upgraded! This beautiful property has 3 bedrooms, 2.5 bathrooms, 3 car garage. Open and bright living room, gourmet kitchen with granite counter tops, stainless steel appliances. Family room with fireplace. Tile floors, custom two-tone paint, newer dual pane vinyl windows. Newer vanities and quartz counter top in all bathrooms. Newer central A/C and heating system heater. Newer lightweight concrete roof. Window shutters. Large back yard with swimming pool, spa, and covered patio. All block walls with neighbors. In a peaceful and quiet Cul-de-sac street. Great neighborhood.

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
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
 

$539,100$658,900$599,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$2,210
Property Tax -$549
Property Insurance -$65
Property Management Fees -$134
CASH FLOW
-$688

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.

$599,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.38%

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$1.8M

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,485

INVESTMENT

$164,485

Down Payment
$149,750
Rehab Estimate
$5,750
Closing Costs
$8,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,750
Loan Amount $449,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,354

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2703$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 13451 Joshua Place Chino, CA 2
    • 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,572 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.44
    •  
  • 13546 Corsican Court Chino, CA 1
    • 3 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,456 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.55
    •  
  • 13850 Cypress Avenue Chino, CA 3
    • 3 beds 4 baths ∙ 1,727 Sqft ∙ Built 1989 3 beds 4 baths ∙ 1,727 Sqft ∙ Built 1989
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 7033 Angora Street Chino, CA 4
    • 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 2004
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.54
    •  
  • 12965 Raintree Place Chino, CA 5
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 1976
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.51
    •  
PROPERTY LISTING DETAILS
Alex Zhao
Remax 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20248843
Last Updated: 12/04/2020
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