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2523 Valley View Avenue Norco, CA 92860

3 Beds 3 Baths 2,247 sqft Built 1956

$769,000

List Price

$3,170

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $342.23
  • 9 Days on Market
  • MLS # : IV21004009
  • Updated Date : 01/16/2021 at 19:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,247 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Norco

Listing Agent's Description

Custom ranch located in Horse Town USA! This 1.20 acre lot includes a 3 bedroom home & a two story drive through barn. The barn has an approx. 36 x 12 storage area upstairs & 35 x 55 space downstairs that includes: 3 large 12 x 12 stalls, a tack room, & a huge workshop. You can modify the barn to use it for cars easily. The barn is wired for 220. Next to the barn is a lighted 70 x 100 arena that can be enjoyed day & night. The front yard has a vinyl driveway fence with an electric gate. The property is private and completely fenced and cross fenced. It also has 9 separate stalls/pens for dogs or any other animals you may have. The charming one story home features 3 bedrooms and 3 bathrooms. The master bedroom has an over sized walk-in closet & a dual sink bathroom. The family room has an open beamed cathedral ceiling, 2 french doors that open to the backyard & a cozy dual sided wood burning/gas fireplace that goes from the family room to the living room. The spacious formal living/dining room has hardwood flooring and wired for a surround sound system. The home has been completely renovated to include new appliances, copper plumbing throughout, hardwood & marble flooring, newer concrete 2 car garage flooring & driveway plus a newer AC & duct system. This property has a roomy breezeway between the garage & the house to park a third vehicle & unlimited RV parking.

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: Hilldale

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k643k

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

Neighborhood: Hilldale

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822630

* 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
Sierra Vista Elementary School Primary Regular 459 20 5
Norco Intermediate School Middle Regular 751 31 7
John F. Kennedy Middle College High School High Magnet 646 22 7

Sierra Vista Elementary School

  • Education Level: Primary
  • # of students: 459
  • # of teachers: 20
5
GreatSchools Rating

Norco Intermediate School

  • Education Level: Middle
  • # of students: 751
  • # of teachers: 31
7
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$692,100$845,900$769,000

PURCHASE PRICE

$2,853$3,487$3,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,170
EXPENSES Loan Payment -$2,671
Property Tax -$716
Property Insurance -$82
Property Management Fees -$187
CASH FLOW
-$485

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.

$769,000

PROJECTED PRICE

$3,170

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 9.7%
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-$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$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,535

INVESTMENT

$209,535

Down Payment
$192,250
Rehab Estimate
$5,750
Closing Costs
$11,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,671

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,250
Loan Amount $576,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$14,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,170

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $3,011

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,9953$3,170
$3,170
RENT COMPS ANALYSIS
  • 2523 Valley View Avenue Norco, CA 3
    • 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 1956 3 beds 3 baths ∙ 2,247 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $3,170
    • $1.41
    •  
  • 2510 Hillside Avenue Norco, CA 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1970
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.33
    •  
  • 3060 Broken Arrow Street Corona, CA 2
    • 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,209 Sqft ∙ Built 1975
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.36
    •  
PROPERTY LISTING DETAILS
Julianne Farmer
Keller Williams Realty Norco
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21004009
Last Updated: 01/16/2021
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