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3005 Michelle Drive 
Colton, CA
92324
5 Beds 3 Baths 3,000 sqft
Built 2000
INVESTimate
$640,000
List Price
$175,350
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PROPERTY INFO
FACTS
- Built In 2000
- Price/Sqft : $213.33
- 3 Days on Market
- MLS # : DW20174161
- Updated Date : 08/25/2020 at 11:08
CONSTRUCTION
- Beds : 5
- Floor Size : 3,000 sqft
- Baths : 3 full
Listing Agent
Executives Group Real Estate
Listing Agent's Description
Welcome to Reche Canyon Spectacular 5 Bedroom Pool Home with Amazing Views and Almost 1 acre of Land!! Featuring an Open and Bright High Ceiling Entrance, Plantation Shutters, and Crown Moldings Adding the Elegant Touch Throughout the Home, Open Living Room and Dining Room with Oversized Windows, You Will Love the Kitchen Open Space and Brightness, Granite Counter Tops, Oversized Island and Natural Light Flow Throughout, Kitchen Connects with Family Room where the Fireplace can be Enjoyed by the Family, Dual Pane Glass Doors to Delight Yourself with a View Towards the Pool and Entertainers Delight Backyard. Oversized Master Bedroom, Master Bath with Dual Sinks, Standing Shower and Tub to Relax Anytime, Spacious Bedrooms with Large Closets, Designer Hardwood Floors and Ceiling Fans. Enjoy Your Family Gatherings Pool Parties on this Amazing Tropical Theme Backyard, Glas Rock Fire Pit, Detailed Brick Design, Barbeque Grill, Stamped Concrete and with Amazing Views all Around. One Bedroom Downstairs, Tile Roof, AC & Central Heating, Individual Laundry Room, Alarm System and Cameras Equipped, 3 Car Garage, Long Driveway with Open Front Yard, It's Higher Location Provides Privacy with Views with Plenty of Land to Expand and Use as You Please and Much Much More. This Home comes with too Many Details to Mention, Desirable Reche Canyon Home Awaits for You, You Must Come See it! CALL TODAY 562-650-6212 For a Private Showing . House is NOT for Rent.
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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: Reche Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Reche Canyon
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,740 |
| EXPENSES | Loan Payment | -$2,361 |
| Property Tax | -$689 | |
| Property Insurance | -$100 | |
| Property Management Fees | -$162 | |
|
CASH FLOW
-$571
|
||
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.
$640,000
PROJECTED PRICE
$2,740
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 4.59% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$175,350
LOAN DETAILS
$2,361
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $160,000 |
| Loan Amount | $480,000 |
1.5
YEARS SAVED
$6,503
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,740
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$2,775
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
3005 Michelle Drive Colton, 2
- 5 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,000 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $2,740
- $0.91
-
3055 Prado Colton, 1
- 5 beds 3 baths ∙ 2,815 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,815 Sqft ∙ Built 1991
LEASED 04/27/20- Rent
- Rent Per SQFT
- $2,500
- $0.89
-
11256 Vollmer Drive Loma Linda, 3
- 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,138 Sqft ∙ Built 2004
LEASED 02/01/20- Rent
- Rent Per SQFT
- $3,000
- $0.96
PROPERTY LISTING DETAILS
Executives Group Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: DW20174161
Last Updated: 08/25/2020
