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3064 Arapaho Street Norco, CA 92860

5 Beds 3 Baths 2,593 sqft Built 1996

$699,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $269.92
  • 4 Days on Market
  • MLS # : IG20251018
  • Updated Date : 12/04/2020 at 11:06
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,593 sqft
  • Baths : 3 full
Listing Agent

Century 21 Gold

Listing Agent's Description

GREAT SINGLE STORY HOME IN NORCO THAT FEATURES 5 BEDROOMS, 3 BATHROOMS. OVER 2500 SQUARE FEET, OPEN SPACIOUS FLOOR PLAN. LIVING ROOM AND DINING ROOM. FAMILY ROOM WITH FIREPLACE, KITCHEN WITH TILE COUNTER TOPS. KITCHEN WITH EATING AREA. MASTER BATHROOM FEATURES DOUBLE SINKS, SEPARATE TUB AND SHOWER. OVER SIZED 3.5 CAR GARAGE WITH DIRECT ACCESS. BlOCK WALLS. 1/2 ACRE HORSE PROPERTY ALL FLAT. RV PARKING ACCESS.

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
Highland Elementary School Primary Regular 653 24 8
Highland Elementary School Middle Regular 653 24 8
John F. Kennedy Middle College High School High Magnet 646 22 7

Highland Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 24
8
GreatSchools Rating

Highland Elementary School

  • Education Level: Middle
  • # of students: 653
  • # of teachers: 24
8
GreatSchools Rating

John F. Kennedy Middle College High School

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

$629,910$769,890$699,900

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,582
Property Tax -$651
Property Insurance -$90
Property Management Fees -$158
CASH FLOW
-$802

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.

$699,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.38%

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$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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,582

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,103

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,904

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,7503$2,9004$2,9505$3,300
$3,300
RENT COMPS ANALYSIS
  • 3064 Arapaho Street Norco, CA 1
    • 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,593 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.03
    •  
  • 7898 Tisdale Street Eastvale, CA 2
    • 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,624 Sqft ∙ Built 2005
    LEASED 09/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.05
    •  
  • 1251 Cornerstone Way Corona, CA 3
    • 5 beds 3 baths ∙ 2,338 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,338 Sqft ∙ Built 1997
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.24
    •  
  • 14469 San Remo Drive Eastvale, CA 4
    • 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 2011 5 beds 3 baths ∙ 2,879 Sqft ∙ Built 2011
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.02
    •  
  • 13822 Dearborn Street Eastvale, CA 5
    • 5 beds 4 baths ∙ 2,825 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,825 Sqft ∙ Built 2005
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.17
    •  
PROPERTY LISTING DETAILS
Donna Chudzicki
Century 21 Gold
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20251018
Last Updated: 12/04/2020
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