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1930 E. Overland Street Colton, CA 92324

3 Beds 3 Baths 1,364 sqft Built 1985

$399,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $292.52
  • 8 Days on Market
  • MLS # : SB21035587
  • Updated Date : 02/22/2021 at 09:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beach City Brokers

Listing Agent's Description

Charming pride of ownership 3 Bed 2.5 Bath 2 story home features open floor plan, fireplace in living area, newer heating and a/c, newer laminate flooring, newer dual pane windows, laundry room inside and large deck outside master bedroom with view. Community amenities include swimming pool, playground, volleyball court, park and picnic area. Excellent location, near freeways, schools and shopping centers.

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
Terrace Hills Middle School Middle Regular 1,038 40 3
Grand Terrace High School High Unknown 2,347 92 4
Terrace Hills Middle School Middle Unknown NA

Terrace Hills Middle School

  • Education Level: Middle
  • # of students: 1,038
  • # of teachers: 40
3
GreatSchools Rating

Grand Terrace High School

  • Education Level: High
  • # of students: 2,347
  • # of teachers: 92
4
GreatSchools Rating

Terrace Hills Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,386
Property Tax -$442
Property Insurance -$60
HOA -$50
Property Management Fees -$100
CASH FLOW
-$348

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.

$399,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.42%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7003$1,7954$2,100
$2,100
RENT COMPS ANALYSIS
  • 1930 E. Overland Street Colton, CA 1
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.24
    •  
  • 846 Santa Fe Lane Colton, CA 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1984
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.25
    •  
  • 1222 Mohave Drive Colton, CA 3
    • 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,442 Sqft ∙ Built 1980
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.24
    •  
  • 1203 Highland Avenue Colton, CA 4
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2004
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
PROPERTY LISTING DETAILS
Yvette Nordquist
Beach City Brokers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB21035587
Last Updated: 02/22/2021
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