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24 Country Glen Street Phillips Ranch, CA 91766

4 Beds 3 Baths 2,394 sqft Built 2019

$799,888

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $334.12
  • 7 Days on Market
  • MLS # : CV21020496
  • Updated Date : 02/06/2021 at 21:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,394 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Beautiful newer built home in great area of Phillips Ranch is ready for it's new family. This stunning home is located in The Crossing at Phillips Ranch. This smart home is packed with modern home automation technology and is as pristine now as when it was completed in April 2019. Built by Lennar Homes this work from home haven has 2,394 sqft., 4 bedrooms / 2.5 baths and has model home features. The chef’s delight kitchen has Quartz counters with cook-top stove, subway tile backsplash, stainless steel under-mount single basin sink, dishwasher, double GE Oven with WiFi connect, beautiful white colored cabinets, large island with breakfast bar, and giant walk-in pantry. The home has recessed lighting with beautiful tile flooring downstairs. Upstairs includes laundry room & beautiful views of the green community hillside. Of the four bedrooms, one is a private master suite with en-suite, his/her vanity sink, walk-in shower, deep soaking tub, and expansive walk-in closet. There's an outdoor patio, 2 car garage with tank-less water heater. Other features of this home include panel solar system (Lease) & WiFi features. Minutes from “The Shoppes”, Ranch 99, and Costco. Miles of walking trails, parks, dog park, and so much more. Must See !!!

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)
  • 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]
  • As part of Southern California area, Los Angeles market inherits all the benefits from the area.
  • 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)
  • 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 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 has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $138k622k

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

Neighborhood: Pomona

NeighborhoodNIR Market*CityMarket2010Year2000 Q42019 Q214001600180020002200240026002800Rent in $12562941

* 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
Lorbeer Middle School Middle Regular 754 29 6
Diamond Ranch High School High Regular 1,791 70 7
Lorbeer Middle School Middle Unknown NA

Lorbeer Middle School

  • Education Level: Middle
  • # of students: 754
  • # of teachers: 29
6
GreatSchools Rating

Diamond Ranch High School

  • Education Level: High
  • # of students: 1,791
  • # of teachers: 70
7
GreatSchools Rating

Lorbeer Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$719,899$879,877$799,888

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,778
Property Tax -$886
Property Insurance -$85
HOA -$103
Property Management Fees -$141
CASH FLOW
-$1,113

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$799,888

PROJECTED PRICE

$2,880

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.35%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.14%
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

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$217,720

INVESTMENT

$217,720

Down Payment
$199,972
Rehab Estimate
$5,750
Closing Costs
$11,998

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,972
Loan Amount $599,916
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8803$3,1004$3,600
$3,600
RENT COMPS ANALYSIS
  • 24 Country Glen Street Phillips Ranch, CA 2
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.20
    •  
  • 1523 Esparza Court Pomona, CA 1
    • 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,476 Sqft ∙ Built 2005
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
  • 40 Gable Court Pomona, CA 3
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2019
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.29
    •  
  • 42 Gabel Ct Pomona, CA 4
    • 5 beds 4 baths ∙ 2,435 Sqft ∙ Built 2019 5 beds 4 baths ∙ 2,435 Sqft ∙ Built 2019
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.48
    •  
PROPERTY LISTING DETAILS
David Franco
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21020496
Last Updated: 02/06/2021
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