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

3008 Riverside Chino, CA 91710

3 Beds 2 Baths 1,626 sqft Built 1962

$675,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $415.13
  • 4 Days on Market
  • MLS # : IV20230120
  • Updated Date : 10/31/2020 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 2 full
Listing Agent

Better Homes And Gardens Real Estate Champions

Listing Agent's Description

VIEWS, VIEWS, VIEWS! Perfect pool home for entertaining, home features 3 bedrooms, 2 bathrooms, formal dinning room and fully equipped solar with battery back up are only a fraction of the amenities this home has to offer. City light views and morning sun rises are just a few of the breathtaking views you will experience on this private street located in the hills of Chino. Definite 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)
  • 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: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Doris Dickson Elementary School Primary Regular 667 23 3
Doris Dickson Elementary School Middle Regular 667 23 3
Don Antonio Lugo High School High Regular 1,745 81 5

Doris Dickson Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 23
3
GreatSchools Rating

Doris Dickson Elementary School

  • Education Level: Middle
  • # of students: 667
  • # of teachers: 23
3
GreatSchools Rating

Don Antonio Lugo High School

  • Education Level: High
  • # of students: 1,745
  • # of teachers: 81
5
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,490
Property Tax -$649
Property Insurance -$67
Property Management Fees -$153
CASH FLOW
-$759

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.

$675,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,245

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.6

    LIST RENT PER SQFT
  • $2,211

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,3003$2,4004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 3008 Riverside Chino, CA 5
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.60
    •  
  • 64 Brownfield Lane Pomona, CA 1
    • 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 1982
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.38
    •  
  • 2072 Munhall Avenue Pomona, CA 2
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 1970
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.32
    •  
  • 12769 Pipeline Avenue Chino, CA 3
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1967
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.31
    •  
  • 4118 Miguel Street Chino, CA 4
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1974
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.43
    •  
PROPERTY LISTING DETAILS
Diana Mendez
Better Homes And Gardens Real Estate Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20230120
Last Updated: 10/31/2020
BESbswy