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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $299.14
- 4 Days on Market
- MLS # : IG20251218
- Updated Date : 12/03/2020 at 18:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,340 sqft
- Baths : 3 full
Listing Agent
Coldwell Banker Alliance Realty
Listing Agent's Description
RV GARAGE HEAVEN – Approx. 950sf garage with a 15’ wide x 13’ high door plus an RV sewer nearby. This well maintained Chino Hills home includes 4 bedrooms, 3 baths with some new interior paint, dual pane windows and approx. 2340sf of living space. Upstairs master includes a ¾ bath with walk-in shower, and separate walk-in closet. Downstairs has a 2nd master with attached ¾ bath, 2 guest bedrooms and a full main bath, living and dining rooms open to the kitchen plus a family room and inside laundry. Backyard with covered spa, shed for sewing, crafts or playhouse, and a roof top deck. Close to shopping, restaurants, schools and freeways.
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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 Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chino Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,780 |
| EXPENSES | Loan Payment | -$2,583 |
| Property Tax | -$638 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$164 | |
|
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.
$699,999
PROJECTED PRICE
$2,780
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$191,250
LOAN DETAILS
$2,583
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $175,000 |
| Loan Amount | $524,999 |
1.33
YEARS SAVED
$5,400
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,780
LIST RENT -
$1.19
LIST RENT PER SQFT
-
$2,790
COMP ESTIMATED VALUE -
$1.19
COMP AVG. RENT PER SQFT
Comps Range
-
15011 Ashwood Lane Chino Hills, CA 2
- 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $2,780
- $1.19
-
13681 San Juan Court Chino, CA 1
- 5 beds 3 baths ∙ 2,286 Sqft ∙ Built 1975 5 beds 3 baths ∙ 2,286 Sqft ∙ Built 1975
LEASED 12/04/19- Rent
- Rent Per SQFT
- $2,700
- $1.18
-
15271 Peach Street Chino Hills, CA 3
- 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1981
LEASED 06/20/20- Rent
- Rent Per SQFT
- $2,900
- $1.15
-
15417 Feldspar Drive Chino Hills, CA 4
- 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,575 Sqft ∙ Built 1979
LEASED 06/30/20- Rent
- Rent Per SQFT
- $3,200
- $1.24
-
3480 Alder Place Chino Hills, CA 5
- 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1978
LEASED 08/07/20- Rent
- Rent Per SQFT
- $3,200
- $1.20
PROPERTY LISTING DETAILS
Coldwell Banker Alliance Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20251218
Last Updated: 12/03/2020
