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16060 Condor Avenue Chino, CA 91708

3 Beds 3 Baths 2,121 sqft Built 2013

$549,800

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $259.22
  • 9 Days on Market
  • MLS # : WS20235087
  • Updated Date : 11/12/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,121 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pinnacle Real Estate Group

Listing Agent's Description

Strong offer will include softwater system installed in 2018! JUST LIKE NEW!(Remodeled in 2018) An appealing porch greets you as you enter into this beautifully two-story home. A generously sized, open concept design awaits you. The designer kitchen has a large functioning kitchen island with farmhouse sink for easy meal prep, wood cabinetry with lots of storage space, granite countertops, custom tile backsplash, hardwood flooring. Stainless steel appliances, abundant counter space as well as a built-in pantry make life easy. All bedrooms are up! Good size BR, a shared BA w/double sinks, & upstairs dedicated laundry room for convenience! Master bedroom features pampering touches such as an incredibly large walk-in closet, larger soaking tub, dual sinks, separate enclosed shower, and private commode. This beautiful home offers a distinctive living experience through the shared community amenities that encourage health, fitness and relaxation. The Parkhouse is a recreation center that residents can enjoy. This recreation center is approximately 15,000 square feet located on approximately 4 acres included a fully equipped fitness center, large meeting rooms, catering kitchen, business center, game rooms and even a surround-sound theater! There is also a beautiful swimming pool, spa, gardens, pavilions, tot lots and tennis courts that are lit during the evenings.

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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

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Cal Aero Preserve Academy Primary Regular 1,102 39 7
Cal Aero Preserve Academy Middle Regular 1,102 39 7
Chino Hills High School High Regular 3,012 111 8

Cal Aero Preserve Academy

  • Education Level: Primary
  • # of students: 1,102
  • # of teachers: 39
7
GreatSchools Rating

Cal Aero Preserve Academy

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 39
7
GreatSchools Rating

Chino Hills High School

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

$494,820$604,780$549,800

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,029
Property Tax -$530
Property Insurance -$79
HOA -$65
Property Management Fees -$145
CASH FLOW
-$396

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.

$549,800

PROJECTED PRICE

$2,450

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,447

INVESTMENT

$151,447

Down Payment
$137,450
Rehab Estimate
$5,750
Closing Costs
$8,247

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,450
Loan Amount $412,350
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$10,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4504$2,4905$2,500
$2,500
RENT COMPS ANALYSIS
  • 16060 Condor Avenue Chino, CA 3
    • 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,121 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.16
    •  
  • 8142 Garden Gate Street Chino, CA 1
    • 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2006
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
  • 8062 Garden Park Street Chino, CA 2
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2005
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.19
    •  
  • 7983 Beacon Street Chino, CA 4
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.14
    •  
  • 7998 Beacon Street Chino, CA 5
    • 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
PROPERTY LISTING DETAILS
Dong Chen
Pinnacle Real Estate Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20235087
Last Updated: 11/12/2020
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