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1730 Golden Spike Drive Colton, CA 92324

3 Beds 2 Baths 1,248 sqft Built 1986

$349,999

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $280.45
  • 4 Days on Market
  • MLS # : CV20250607
  • Updated Date : 12/03/2020 at 17:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

Welcome to this gorgeous move-in ready family home in a gated community, this cozy home offers all new paint inside and newer floors throughout recessed lighting in the dining and living room area. Living room comes with a gorgeous fireplace perfect for winter days, you also have direct access from the garage into the house. As you walk down the hallway you will find a full bathroom & as you enter the master bedroom you will find a walk in closet, restroom plus a sliding door that leads into a side cozy backyard. Two car garage comes with laundry hookups and plenty of room. This home sits across a community pool and park just walk across and enjoy a walk at the park. Easy access to 10 freeways, shopping centers & schools. To view this home in 3D view visit..... https://my.matterport.com/show/?m=mqZUjBQ21Sn&mls=1

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
Garcia Elementary School Primary Regular 713 24 3
Jehue Middle School Middle Regular 1,401 51 2
Rialto High School High Regular 2,881 121 5

Garcia Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 24
3
GreatSchools Rating

Jehue Middle School

  • Education Level: Middle
  • # of students: 1,401
  • # of teachers: 51
2
GreatSchools Rating

Rialto High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 121
5
GreatSchools Rating
 

$314,999$384,999$349,999

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,291
Property Tax -$368
Property Insurance -$57
HOA -$130
Property Management Fees -$103
CASH FLOW
-$209

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.

$349,999

PROJECTED PRICE

$1,740

PROJECTED RENT

0.50%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,504

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7403$1,800
$1,800
RENT COMPS ANALYSIS
  • 1730 Golden Spike Drive Colton, CA 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.39
    •  
  • 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
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.24
    •  
  • 1838 Golden Spike Drive Colton, CA 3
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
PROPERTY LISTING DETAILS
Reyna Benitez
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20250607
Last Updated: 12/03/2020
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