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2119 Olivine Drive Chino Hills, CA 91709

4 Beds 3 Baths 2,256 sqft Built 1987

$699,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $309.84
  • 12 Days on Market
  • MLS # : IV20224866
  • Updated Date : 11/01/2020 at 20:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,256 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathaway Homeservices California Properties

Listing Agent's Description

COMING SOON!! THIS CHINO HILLS FAMILY HOME IS 4 BEDROOMS 3 BATHS, AND BOASTS OF 2,256 SQUARE FT ON A LOT SIZED AT 5,546, NESTLED IN CARBON CANYON THE SUMMIT RANCH COMMUNITY. THE HOME SITS ON A CORNER LOT . THE HOME EXTERIOR HAS BEEN FRESHLY PAINTED AND DECK REPLACED . SUMMIT RANCH HAS PLENTY OF AMENITIES AND ACTIVITIES FOR THE NEW HOMEOWNER TO ENTERTAIN AND ENJOY. THIS INCLUDES POOL,SPA TENNIS AND BASKETBALL COURTS , EQUESTRIAN HORSE TRAILS , WALKING AND HIKING TRAILS THE HOME IS CENTRALLY LOCATED NEAR SHOPPING AND PARK

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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: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k727k

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

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822735

* 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
Gerald F. Litel Elementary School Primary Regular 502 18 9
Canyon Hills Junior High School Middle Regular 1,163 40 9
Ruben S. Ayala High School High Regular 2,606 98 10

Gerald F. Litel Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 18
9
GreatSchools Rating

Canyon Hills Junior High School

  • Education Level: Middle
  • # of students: 1,163
  • # of teachers: 40
9
GreatSchools Rating

Ruben S. Ayala High School

  • Education Level: High
  • # of students: 2,606
  • # of teachers: 98
10
GreatSchools Rating
 

$629,100$768,900$699,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,579
Property Tax -$634
Property Insurance -$82
HOA -$140
Property Management Fees -$185
CASH FLOW
-$480

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.

$699,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,579

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$14,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $3,074

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,1004$3,1405$3,500
$3,500
RENT COMPS ANALYSIS
  • 2119 Olivine Drive Chino Hills, CA 4
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $1.39
    •  
  • 15574 Feldspar Drive Chino Hills, CA 1
    • 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,224 Sqft ∙ Built 1977
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.26
    •  
  • 2512 Turquoise Circle Chino Hills, CA 2
    • 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,239 Sqft ∙ Built 1981
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.30
    •  
  • 2029 Vista Del Sol Chino Hills, CA 3
    • 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1996
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.43
    •  
  • 2342 Brandon Circle Chino Hills, CA 5
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1980
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.46
    •  
PROPERTY LISTING DETAILS
Diane Divinity
Berkshire Hathaway Homeservices California Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20224866
Last Updated: 11/01/2020
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