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3361 Plaid Court Chino Hills, CA 91709

3 Beds 2 Baths 1,224 sqft Built 1979

$598,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $488.56
  • 3 Days on Market
  • MLS # : TR21005912
  • Updated Date : 01/15/2021 at 12:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,224 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Tri-counties R

Listing Agent's Description

Welcome home to single-level living at this beautiful property in Chino Hills! Settled within a highly sought after neighborhood, you’ll fall in love with this 3 BD, 2 BA home with 1,224 SF plus a 155 SF enclosed patio room. When you step across the threshold a cathedral ceiling soars above you in the living room. Plantation shutters adorn the windows, giving each room an extra touch of luxury while recessed lighting is in every room. The remodeled kitchen includes rich cabinetry, excellent stainless steel appliances, granite countertops and a cozy eat-in area with fireplace. Your master bedroom offers all the space you need to relax and retire after a long day, while also offering access to the patio where you can enjoy the perfect weather. As you tour this home you will find yourself smiling as you realize everything big has been updated. All you’ll need to do is move in! All tile and hardwood flooring throughout. A brand new roof. Dual pane windows and french doors have all been installed, which fill your home with fresh air and natural light. The attached 2-car garage gives you plenty of storage. Head out back every morning and pick a fresh grapefruit from the tree in your backyard while enjoying your first coffee of the day on the patio. There’s even a small shed that will easily secure your tools and yard equipment. Conveniently located by great schools, shopping, parks and easy access to the 71/60/57 freeways. Schedule your private tour today!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k727k

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

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822735

* 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
Oak Ridge Elementary School Primary Regular 724 27 8
Oak Ridge Elementary School Middle Regular 724 27 8
Chino Hills High School High Regular 3,012 111 8

Oak Ridge Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 27
8
GreatSchools Rating

Oak Ridge Elementary School

  • Education Level: Middle
  • # of students: 724
  • # of teachers: 27
8
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating
 

$538,200$657,800$598,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,077
Property Tax -$545
Property Insurance -$57
Property Management Fees -$131
CASH FLOW
-$590

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.

$598,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,220

INVESTMENT

$164,220

Down Payment
$149,500
Rehab Estimate
$5,750
Closing Costs
$8,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,500
Loan Amount $448,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,2603$2,3004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3361 Plaid Court Chino Hills, CA 1
    • 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,224 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.81
    •  
  • 15702 Ponderosa Lane Chino Hills, CA 2
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1974
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.64
    •  
  • 3789 Glen Ridge Drive Chino Hills, CA 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1977
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.71
    •  
  • 15867 Antelope Drive Chino Hills, CA 4
    • 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1988
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.70
    •  
  • 15531 Oakhurst Street Chino Hills, CA 5
    • 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,416 Sqft ∙ Built 1987
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.77
    •  
PROPERTY LISTING DETAILS
Pamela Briggs
Coldwell Banker Tri-counties R
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21005912
Last Updated: 01/15/2021
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