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3659 Hillside Avenue Norco, CA 92860

4 Beds 2 Baths 1,576 sqft Built 1952

$635,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1952
  • Price/Sqft : $402.92
  • 3 Days on Market
  • MLS # : IG21040421
  • Updated Date : 02/26/2021 at 12:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,576 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Gorgeous horse property Norco home. Updated throughout with wood-like flooring, updated kitchen w/ newer cabinets, granite counters, & stainless steel appliances. Large pantry area & dining room connected to kitchen. Open concept living room w/ real wood-burning fireplace, wainscoting, 5" baseboards throughout with light and airy paint. 2 secondary bedrooms located on one side of the home w/ newer carpet. Secondary bathroom recently remodeled w/ large bathtub, subway tiles, new vanity, flooring & wainscoting. The master suite & additional bedroom/office/nursery are located on the other side of the house w/ a beautifully updated master bathroom. Large laundry room w/ sink & storage located off entryway. Room for horses and all your toys too. 220v installed in the dry walled garage for welding hookups and full RV hookups on the side of the house with RV clean out. Room for RV/trailer access on both sides of the home. Fully paid for solar system, whole house fan, 2 water heaters (brand new water heater for the entire home and a tankless water heater for the master suite) you will never be out of hot water. Drive onto your property with an automatic opening gate at the entry of the property and a fully custom steel/wood gate at the backyard entrance. The fenced in backyard features a gas fire pit, concrete patio area, and updated fencing all around with a large grass area. Horse trails all around, centrally located to the 15 freeway, shopping, and dining.

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 Farms

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $143k643k

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

Neighborhood: Norco Farms

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822630

* 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
 

$571,500$698,500$635,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,206
Property Tax -$591
Property Insurance -$65
Property Management Fees -$151
CASH FLOW
-$453

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.

$635,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,025

INVESTMENT

$174,025

Down Payment
$158,750
Rehab Estimate
$5,750
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,206

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,482

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,6003$2,700
$2,700
RENT COMPS ANALYSIS
  • 3659 Hillside Avenue Norco, CA 1
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1952 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1952
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.62
    •  
  • 2948 Sierra Avenue Norco, CA 2
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1955
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.61
    •  
  • 283 8th Street Norco, CA 3
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1971
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.54
    •  
PROPERTY LISTING DETAILS
Robert Grable
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21040421
Last Updated: 02/26/2021
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