Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1394 Tally Ho Lane Norco, CA 92860

3 Beds 2 Baths 1,442 sqft Built 1973

$599,900

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $416.02
  • 5 Days on Market
  • MLS # : IV21025233
  • Updated Date : 02/13/2021 at 11:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,442 sqft
  • Baths : 2 full
Listing Agent

National Realty Group

Listing Agent's Description

...HORSE LOVER'S DREAM HOME.......RV PARKING AND MORE......LARGE HORSE BARN WITH TWO SIDES, EACH WITH 2 STALLS FRESHLY PAINTED OUTSIDE......NEW, NEW, NEW DESIGNER PAINT...NEW A/C TO BE INSTALLED BEFORE APPRAISAL DATE...GOURMET KITCHEN WITH NEW QUARTZ COUNTER, NEW SINK, NEW GARBAGE DISPOSAL, NEW FAUCET, AND NEW STAINLESS STEEL APPLIANCES ....WINDOW BY KITCHEN SINK ON ORDER ....INDOOR LAUNDRY ROOM...BRAND NEW AND ELEGANT TILE FLOORING THROUGHOUT EXCEPT THE BEDROOMS HAVE NEW UPGRADED CARPET....SOLID WOOD DOUBLE DOOR ENTRY....BATHROOMS WITH REGLAZED TUB AND SHOWER BOTTOM ARE BRIGHT, CHEERFUL, AND LIKE NEW...NEW BASEBOARDS THROUGHOUT....NEW CLOSET DOORS..........GARAGE INTERIOR IS DRY WALLED NEW AND HAS A NEW ROLL-UP GARAGE DOOR WITH AN AUTO OPENER......SITUATED ON A SUPER QUIET CUL-DE-SAC, IT IS ONLY A MINUTE AWAY FROM FREEWAY 15, SHOPPING, AND SCHOOL....

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: Norco

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k643k

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

Neighborhood: Norco

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822691

* 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
Norco Intermediate School Middle Regular 751 31 7
Norco High School High Regular 2,244 83 7
Norco Intermediate School Middle Unknown NA

Norco Intermediate School

  • Education Level: Middle
  • # of students: 751
  • # of teachers: 31
7
GreatSchools Rating

Norco High School

  • Education Level: High
  • # of students: 2,244
  • # of teachers: 83
7
GreatSchools Rating

Norco Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$2,084
Property Tax -$586
Property Insurance -$62
Property Management Fees -$125
CASH FLOW
-$737

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.

$599,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,120
1$2,1202$2,1953$2,2004$2,4005$2,600
$2,600
RENT COMPS ANALYSIS
  • 1394 Tally Ho Lane Riverside, CA 1
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.47
    •  
  • 1880 Coolidge Street Corona, CA 2
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 1990
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.45
    •  
  • 1861 Coolidge Street Corona, CA 3
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1990
    LEASED 10/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.46
    •  
  • 1156 Gentle Drive Corona, CA 4
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1964 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1964
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 2948 Sierra Avenue Norco, CA 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.61
    •  
PROPERTY LISTING DETAILS
Jean Tanner
National Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21025233
Last Updated: 02/13/2021
BESbswy