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1537 Macy Avenue Colton, CA 92324

3 Beds 2 Baths 1,456 sqft Built 1988

$389,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $267.79
  • 2 Days on Market
  • MLS # : TR21010046
  • Updated Date : 01/16/2021 at 11:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Max Value Realty

Listing Agent's Description

This 3 bedroom, 2 bath home, is move in ready, with wood laminate flooring, carpet and tile, large family room to the rear of home. Nice high, vaulted ceilings, nice floor plan. Large front and backyard, with gated yard for privacy. Close to food, dining, shopping, freeways, a must see.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Colton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k459k

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

Neighborhood: Colton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Paul Rogers Elementary School Primary Regular 767 30 3
Colton Middle School Middle Regular 1,046 44 3
Colton High School High Regular 1,963 74 4

Paul Rogers Elementary School

  • Education Level: Primary
  • # of students: 767
  • # of teachers: 30
3
GreatSchools Rating

Colton Middle School

  • Education Level: Middle
  • # of students: 1,046
  • # of teachers: 44
3
GreatSchools Rating

Colton High School

  • Education Level: High
  • # of students: 1,963
  • # of teachers: 74
4
GreatSchools Rating
 

$350,910$428,890$389,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,354
Property Tax -$423
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
-$258

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.

$389,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.2%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,8004$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1537 Macy Avenue Colton, CA 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.15
    •  
  • 861 S Rexford Street Rialto, CA 1
    • 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,335 Sqft ∙ Built 1986
    property image
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.24
    •  
  • 1662 Virginia Drive Colton, CA 3
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.34
    •  
  • 1203 Highland Avenue Colton, CA 4
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
  • 1284 Janes Way Colton, CA 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
PROPERTY LISTING DETAILS
Saul De La Rocha
Max Value Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21010046
Last Updated: 01/16/2021
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