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1584 Valley View Avenue Norco, CA 92860

3 Beds 1 Baths 1,160 sqft Built 1959

$465,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $400.86
  • 3 Days on Market
  • MLS # : IG21018252
  • Updated Date : 01/30/2021 at 14:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 1 full
Listing Agent

Active Realty

Listing Agent's Description

This charming one story 3 bedroom 1 bath home is located in HORSE TOWN USA! This comfortable 9,583 lot home features Country-charm kitchen has updated countertops, plenty of cabinet space, large spice rack, gas cooktop, Bedrooms feature ceiling fans. Insulated attic, dual-pane windows throughout, central heating, air-conditioning, and a whole-house fan keep the house temperature comfortable, water softener, and a custom generator station on the side of the house is on standby for any emergency power blackouts, This lot provides easy access for horse trailers, hay deliveries, and RV’s. This large yard is a pool sized lot. Backyard also has patio slab and shed. Check with local city for details on permitted animals on this parcel. This home is conveniently located close to the 15 freeway and to schools, shopping, restaurants, park, and a golf course. This cute and cozy home is perfect for first time buyers.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,615
Property Tax -$433
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$202

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.

$465,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.43%

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

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,666

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.74

    LIST RENT PER SQFT
  • $1,914

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0203$2,098
$2,098
RENT COMPS ANALYSIS
  • 1584 Valley View Avenue Norco, CA 2
    • 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,160 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.74
    •  
  • 126 N Merrill Street Corona, CA 1
    • 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,088 Sqft ∙ Built 1963
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.79
    •  
  • 989 Oakdale Street Corona, CA 3
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1976
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,098
    • $1.51
    •  
PROPERTY LISTING DETAILS
Michele Medina
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21018252
Last Updated: 01/30/2021
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