Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2372 Olympic View Drive Chino Hills, CA 91709

4 Beds 3 Baths 2,571 sqft Built 1988

$1,000,000

List Price

$3,590

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $388.95
  • 5 Days on Market
  • MLS # : TR21149680
  • Updated Date : 07/09/2021 at 09:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,571 sqft
  • Baths : 3 full
Listing Agent

King Realty Group Inc

Listing Agent's Description

Located in a highly desired North Chino Hills neighborhood, this beautiful pool home is ready for you to move in! Upon entering, you will appreciate the separate formal living and dining rooms that are spacious and perfect for gatherings. The dine-in kitchen offers plenty of cabinets and counter space. The family room is centered around the warm brick fireplace and has a built-in wet bar, perfect for relaxing. First floor features a bedroom, full bath and laundry nook. Upstairs, the large master suite features an ensuite bathroom with dual sink and makeup vanity, large soaking tub, separate walk-in shower and walk-in closet. The second level has 2 additional bedrooms and a full bath. You will appreciate the sparkling pool and spa in the beautifully landscaped backyard. Centrally located in the Heart of Chino Hills close to all major shopping & dining locations. Make this your dream home!

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: 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
Canyon Hills Junior High School Middle Regular 1,163 40 9
Ruben S. Ayala High School High Regular 2,606 98 10

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
 

$900,000$1,100,000$1,000,000

PURCHASE PRICE

$3,231$3,949$3,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,590
EXPENSES Loan Payment -$3,473
Property Tax -$947
Property Insurance -$89
Property Management Fees -$212
CASH FLOW
-$1,131

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.

$1,000,000

PROJECTED PRICE

$3,590

PROJECTED RENT

0.36%

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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$270,750

INVESTMENT

$270,750

Down Payment
$250,000
Rehab Estimate
$5,750
Closing Costs
$15,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,473

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $250,000
Loan Amount $750,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,590

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $3,574

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,400
1$3,4002$3,5003$3,5004$3,5905$3,600
$3,600
RENT COMPS ANALYSIS
  • 2372 Olympic View Drive Chino Hills, CA 4
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $3,590
    • $1.40
    •  
  • 2467 Madrugada Drive Chino Hills, CA 1
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1989
    LEASED 05/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.35
    •  
  • 2443 Madrugada Drive Chino Hills, CA 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1988
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.39
    •  
  • 13342 Mesa Bluff Court Chino Hills, CA 3
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1987
    LEASED 06/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.39
    •  
  • 13541 Anochecer Avenue Chino Hills, CA 5
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 1987
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.43
    •  
PROPERTY LISTING DETAILS
John Balsz
King Realty Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21149680
Last Updated: 07/09/2021
BESbswy