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2594 Temescal Avenue Norco, CA 92860

4 Beds 2 Baths 1,272 sqft Built 1963

$600,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $471.70
  • 3 Days on Market
  • MLS # : IG21052269
  • Updated Date : 03/13/2021 at 08:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Beautiful turnkey home in Norco with large RV parking/access. This home has been fully renovated with open concept living space. Kitchen has new cabinets, quartz counters, and stainless steel appliances. The home features wood laminate flooring through out, 4 bedrooms (1 currently being used as an office) and 2 bathrooms. Custom barn doors installed on the office/bedroom which opens up to the living room. Both bathrooms have upgraded vanities and tiled shower/tub combos. Brand new AC condenser, new tankless water heater, new vinyl fencing around entire yard, and new windows. The backyard has been completely re-done with large grass area, golf putting area, covered patio, built in gas fire pit, and landscaped through out. Horse trails all around, centrally located to the 15 freeway, shopping, and dining. Elementary, Middle, and High school all within a mile and walking distance.

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: Norco

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k643k

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

Neighborhood: Norco

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822691

* 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
Norco Intermediate School Middle Regular 751 31 7
Norco High School High Regular 2,244 83 7
Norco Intermediate School Middle Unknown NA

Norco Intermediate School

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

Norco High School

  • Education Level: High
  • # of students: 2,244
  • # of teachers: 83
7
GreatSchools Rating

Norco Intermediate School

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

$540,000$660,000$600,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$2,084
Property Tax -$558
Property Insurance -$58
Property Management Fees -$138
CASH FLOW
-$498

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.

$600,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.2%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $1.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3403$2,600
$2,600
RENT COMPS ANALYSIS
  • 2594 Temescal Avenue Norco, CA 2
    • 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,272 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.84
    •  
  • 659 Vaughan Street Norco, CA 1
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.87
    •  
  • 2948 Sierra Avenue Norco, CA 3
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.61
    •  
PROPERTY LISTING DETAILS
Robert Grable
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21052269
Last Updated: 03/13/2021
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