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2356 Wandering Ridge Drive Chino Hills, CA 91709

4 Beds 3 Baths 2,121 sqft Built 1987

INVESTimate

$869,000

List Price

$3,420

$3,170 - $3,670

Rent Est.

$913,406  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $409.71
  • 16 Days on Market
  • MLS # : WS20162286
  • Updated Date : 08/11/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,121 sqft
  • Baths : 3 full
Listing Agent

Kw Vision

Listing Agent's Description

Welcome to this beautiful home located in north Chino Hills. With great views of the surrounding hills and only minutes away from Costco and other major shops, this home is not to be missed. The home features plenty of natural light which along with the high ceilings, gives it a nice airy and open feel. There are modern amenities throughout the home including recessed lighting, wood floors, granite counter tops, and much more. All the bathrooms have also been updated with modern refinements which you’ll love. This home also features a bed and bath downstairs as well as a three card garage. The backyard is spacious and features a planter section so you can have some homegrown fruits and veggies. Don’t miss the opportunity to own this spectacular home in one of the best locations in Chino Hills!

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: 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
Eagle Canyon Elementary School Primary Regular 573 21 8
Canyon Hills Junior High School Middle Regular 1,163 40 9
Ruben S. Ayala High School High Regular 2,606 98 10

Eagle Canyon Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 21
8
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
 

$782,100$955,900$869,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

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-$15k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$3,206
Property Tax -$815
Property Insurance -$79
Property Management Fees -$202
CASH FLOW
-$881

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.

$869,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$236,035

INVESTMENT

$236,035

Down Payment
$217,250
Rehab Estimate
$5,750
Closing Costs
$13,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,206

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $217,250
Loan Amount $651,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$5,866

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $1.61

    LIST RENT PER SQFT
  • $2,879

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8004$2,9005$3,420
$3,420
RENT COMPS ANALYSIS
  • 2356 Wandering Ridge Drive Chino Hills, 5
    • 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $1.61
    •  
  • 13651 Brandy Place Chino Hills, 1
    • 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,953 Sqft ∙ Built 1986
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.38
    •  
  • 2512 Cottonwood Chino Hills, 2
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1984
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.34
    •  
  • 2373 Madrugada Drive Chino Hills, 3
    • 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 1989
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.32
    •  
  • 2266 Norte Vista Drive Chino Hills, 4
    • 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,089 Sqft ∙ Built 1987
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.39
    •  
PROPERTY LISTING DETAILS
Yiu Kwei
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20162286
Last Updated: 08/11/2020
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