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15239 Murray Avenue Chino Hills, CA 91709

3 Beds 2 Baths 1,008 sqft Built 1981

INVESTimate

$448,888

List Price

$2,000

$1,800 - $2,200

Rent Est.

$471,826  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $445.33
  • 8 Days on Market
  • MLS # : OC20169890
  • Updated Date : 08/19/2020 at 19:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,008 sqft
  • Baths : 2 full
Listing Agent

Re/max 888

Listing Agent's Description

Light and Brite 3 Bedroom 2 Bath Single Story home in Chino Hills Close to Shopping, Costco, Elementary School and Park Cul De Sac Street and Large Backyard

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 Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k727k

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

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822735

* 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
Chaparral Elementary School Primary Regular 629 23 7
Robert O. Townsend Junior High School Middle Regular 1,082 39 8
Chino Hills High School High Regular 3,012 111 8

Chaparral Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 23
7
GreatSchools Rating

Robert O. Townsend Junior High School

  • Education Level: Middle
  • # of students: 1,082
  • # of teachers: 39
8
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating
 

$403,999$493,777$448,888

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,656
Property Tax -$414
Property Insurance -$52
Property Management Fees -$118
CASH FLOW
-$240

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.

$448,888

PROJECTED PRICE

$2,000

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,705

INVESTMENT

$124,705

Down Payment
$112,222
Rehab Estimate
$5,750
Closing Costs
$6,733

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,656

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,222
Loan Amount $336,666
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,052

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
  • $1.98

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0003$2,0504$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 15239 Murray Avenue Chino Hills, 2
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.98
    •  
  • 15277 Murray Avenue Chino Hills, 1
    • 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,158 Sqft ∙ Built 1981
    property image
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.72
    •  
  • 4668 Fairway Boulevard Chino Hills, 3
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1981
    property image
    LEASED 03/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.63
    •  
  • 15119 Monterey Avenue Chino Hills, 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1983
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.69
    •  
  • 3945 Madrona Way Chino Hills, 5
    • 4 beds 2 baths ∙ 1,343 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,343 Sqft ∙ Built 1974
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.68
    •  
PROPERTY LISTING DETAILS
Kathy Serrano
Re/max 888
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC20169890
Last Updated: 08/19/2020
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