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181 W C Street Colton, CA 92324

3 Beds 1 Baths 1,164 sqft Built 1908

$330,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1908
  • Price/Sqft : $283.51
  • 16 Days on Market
  • MLS # : CV20240103
  • Updated Date : 11/25/2020 at 16:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,164 sqft
  • Baths : 1 full
Listing Agent

Sandin Real Estate Company

Listing Agent's Description

This model perfect home is in 100% turnkey condition and in the sought after area of Colton. Located in a serene neighborhood, This single story beauty features an open and lengthy floor plan with 2 large sized bedrooms and full sized bath. Third room can be easily converted to its original 3 bedroom. Tall ceilings in large family room and dining room. Nicely renovated by the original owner and delivers a bright and airy single story open floor plan! Bedrooms are large in size and include large closets. Kitchen features Stainless Steel stove, oven and custom tiled countertops. Newer tile backsplash too! Led lighting and new custom wood type ceramic flooring throughout. Just way too much to mention. All new custom paint, flooring and tile have been professionally done in neutral colors to easily match any decor. Dual Pane energy efficient windows are Bright and airy and bring in lots of natural light. Newer energy efficient roof too! Sits perfectly on a 7,500 plus SQFT lot zoned R-2 making it perfect for a second unit or Accessory Dwelling Unit. Buyer to check with city regarding permitting units. The rear yard is great for entertaining family or guests and front patio is perfect for morning coffee. Great schools and within walking distance to downtown Colton, parks, shopping, along with easy freeway access make for great living.

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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
Grant Elementary School Primary Regular 711 29 5
Grant Elementary School Middle Regular 711 29 5
Colton High School High Regular 1,963 74 4

Grant Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 29
5
GreatSchools Rating

Grant Elementary School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 29
5
GreatSchools Rating

Colton High School

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

$297,000$363,000$330,000

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 -$1,218
Property Tax -$360
Property Insurance -$55
Property Management Fees -$103
CASH FLOW
$4

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.

$330,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.53%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$24,328

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
  • $1.49

    LIST RENT PER SQFT
  • $2,031

    COMP ESTIMATED VALUE
  • $1.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,8953$1,950
$1,950
RENT COMPS ANALYSIS
  • 181 W C Street Colton, CA 1
    • 3 beds 1 baths ∙ 1,164 Sqft ∙ Built 1908 3 beds 1 baths ∙ 1,164 Sqft ∙ Built 1908
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.49
    •  
  • 1055 Fairview Avenue Colton, CA 2
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1928 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1928
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.59
    •  
  • 748 W E Street Colton, CA 3
    • 4 beds 2 baths ∙ 1,024 Sqft ∙ Built 1926 4 beds 2 baths ∙ 1,024 Sqft ∙ Built 1926
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.90
    •  
PROPERTY LISTING DETAILS
Kevin Valle
Sandin Real Estate Company
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20240103
Last Updated: 11/25/2020
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