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1945 Mauna Loa Norco, CA 92860

3 Beds 3 Baths 1,900 sqft Built 1961

$625,000

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $328.95
  • 7 Days on Market
  • MLS # : IG20236375
  • Updated Date : 11/09/2020 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,900 sqft
  • Baths : 3 full
Listing Agent

Realty One Group West

Listing Agent's Description

WELCOME HOME! Turnkey fully remodeled home in Norco. Located on a quiet cul-de-sac in a well established, family oriented neighborhood. This home has been gone through completely. Fully remodeled upgraded kitchen with quartz countertops, new fixtures and appliances, new cabinetry with an open concept leading to a large dining area and family room. Updated fireplace and built in desk and cabinetry. New recessed lighting, paint, flooring, light fixtures, windows and doors through out. The home has a 2 car garage and indoor laundry room. Large backyard to bring all your toys or build your own pool. Centrally located near parks, elementary school, community center, freeway access, and shopping nearby. Look no further this home has it all. Come see for yourself and fall in LOVE!

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: Norco Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k643k

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

Neighborhood: Norco Highlands

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822630

* 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
Highland Elementary School Primary Regular 653 24 8
Highland Elementary School Middle Regular 653 24 8
John F. Kennedy Middle College High School High Magnet 646 22 7

Highland Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 24
8
GreatSchools Rating

Highland Elementary School

  • Education Level: Middle
  • # of students: 653
  • # of teachers: 24
8
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,306
Property Tax -$581
Property Insurance -$73
Property Management Fees -$145
CASH FLOW
-$645

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.

$625,000

PROJECTED PRICE

$2,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,513

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4503$2,4604$2,6505$2,995
$2,995
RENT COMPS ANALYSIS
  • 1945 Mauna Loa Norco, CA 3
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1961 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.29
    •  
  • 1390 5th Street Norco, CA 1
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1967
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.20
    •  
  • 1020 Carriage Drive Norco, CA 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 2510 Hillside Avenue Norco, CA 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.33
    •  
  • 3060 Broken Arrow Street Corona, CA 5
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1975
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.36
    •  
PROPERTY LISTING DETAILS
Robert Grable
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20236375
Last Updated: 11/09/2020
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