Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1732 Virginia Drive Colton, CA 92324

4 Beds 2 Baths 1,342 sqft Built 1994

$399,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $297.99
  • 7 Days on Market
  • MLS # : 528872
  • Updated Date : 10/31/2020 at 15:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Empire

Listing Agent's Description

Beautiful home is waiting for you to make an offer. Conveniently located at walking Distance to the University,Restaurants Shopping centers. Five minutes from 215/10 Freeways. Association Amenities: None # of RV Spaces: 0NONE Lot Location Type: Standard Location Special Features: None # of Attached Spaces: 2 # of Detached Spaces: 0

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: 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
Abraham Lincoln Elementary School Primary Regular 684 28 4
Abraham Lincoln Elementary School Middle Regular 684 28 4
Colton High School High Regular 1,963 74 4

Abraham Lincoln Elementary School

  • Education Level: Primary
  • # of students: 684
  • # of teachers: 28
4
GreatSchools Rating

Abraham Lincoln Elementary School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 28
4
GreatSchools Rating

Colton High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,475
Property Tax -$437
Property Insurance -$60
Property Management Fees -$114
CASH FLOW
-$146

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.

$399,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.49%

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-$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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,676

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9403$2,200
$2,200
RENT COMPS ANALYSIS
  • 1732 Virginia Drive Colton, CA 2
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.45
    •  
  • 1662 Virginia Drive Colton, CA 1
    • 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,342 Sqft ∙ Built 1994
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.34
    •  
  • 1284 Janes Way Colton, CA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2001
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
PROPERTY LISTING DETAILS
Juan Rivera
Realty One Group Empire
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 528872
Last Updated: 10/31/2020
BESbswy