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

3288 Pedley Avenue Norco, CA 92860

4 Beds 3 Baths 2,480 sqft Built 2002

$798,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $321.77
  • 5 Days on Market
  • MLS # : CV21022532
  • Updated Date : 02/05/2021 at 11:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,480 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Welcome to this gorgeous single-story home, 4 bedrooms, 3 beautifully upgraded bathrooms, 10 foot high ceilings, 3 car garage situated behind a beautiful privacy fence surrounding the home with solar powered entrance gate. This home has been completely upgraded within the past 3 years, you will not believe what awaits you. Once inside you are greeted with newer laminate flooring in warm neutral colors throughout, tile in water areas. Just inside a spacious open area perfect for a family room or formal dining room. In the kitchen you will notice beautifully upgraded quartz counter tops, subway tile backsplash, high-end Frigidaire professional appliances including a nice size drink fridge. Kitchen opens to the family room with an abundance of natural light, an oversized ceiling fan to keep the breeze going, a cozy fireplace for family movie night or just an inviting place for the family to regroup. Bedrooms are located on the right side of the home. The large master retreat w/slider leads out to the back patio, oversize gorgeous tile shower awaits you, his and her sinks, walk-in closet. Down the hall are 3 nice size bedrooms, 1 currently being used as an office, this room has French doors out to the front porch, laundry room with plenty of storage. The backyard has room for RV parking, pool and/or horse corrals which this area is currently being used for, 2 partially covered horse stalls, a round pen, an enclosed Haybarn, and a wash station.

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
 

$718,200$877,800$798,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$2,772
Property Tax -$742
Property Insurance -$87
Property Management Fees -$183
CASH FLOW
-$684

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.

$798,000

PROJECTED PRICE

$3,100

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

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$217,220

INVESTMENT

$217,220

Down Payment
$199,500
Rehab Estimate
$5,750
Closing Costs
$11,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,772

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $199,500
Loan Amount $598,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,249

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0003$3,100
$3,100
RENT COMPS ANALYSIS
  • 3288 Pedley Avenue Norco, CA 3
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.25
    •  
  • 1129 Ginger Lane Corona, CA 1
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1990
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.22
    •  
  • 1910 Aztec Circle Corona, CA 2
    • 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,145 Sqft ∙ Built 1995
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.40
    •  
PROPERTY LISTING DETAILS
Jane Heeney
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21022532
Last Updated: 02/05/2021
BESbswy