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2181 Bostick Avenue Grand Terrace, CA 92324

3 Beds 2 Baths 1,012 sqft Built 1985

$399,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $394.27
  • 3 Days on Market
  • MLS # : CV20234335
  • Updated Date : 11/06/2020 at 13:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,012 sqft
  • Baths : 2 full
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Completely Remodeled! Entertainment delight.....come see our back yard to imagine the family gatherings! A brand new retaining wall created more patio space! New AC unit, brand new windows, new kitchen, new bathrooms, new flooring.....too much to mention ....ITS A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Colton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

* 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
Woodrow Wilson Elementary School Primary Regular 666 29 3
Terrace Hills Middle School Middle Regular 1,038 40 3
Grand Terrace High School High Unknown 2,347 92 4

Woodrow Wilson Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 29
3
GreatSchools Rating

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
 

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

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,472
Property Tax -$431
Property Insurance -$52
Property Management Fees -$106
CASH FLOW
-$270

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

$1,790

PROJECTED RENT

0.45%

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

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,402

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.77

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,7903$1,9004$1,950
$1,950
RENT COMPS ANALYSIS
  • 2181 Bostick Avenue Grand Terrace, CA 2
    • 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.77
    •  
  • 1097 Santo Antonio Drive Colton, CA 1
    • 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,330 Sqft ∙ Built 1979
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 22235 Dove Street Grand Terrace, CA 3
    • 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,025 Sqft ∙ Built 1982
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.85
    •  
  • 22611 Raven Way Grand Terrace, CA 4
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1973
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.77
    •  
PROPERTY LISTING DETAILS
Norma Macias
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20234335
Last Updated: 11/06/2020
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