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382 Cypress Avenue Colton, CA 92324

4 Beds 2 Baths 1,398 sqft Built 1961

$259,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $185.91
  • 7 Days on Market
  • MLS # : IV20234022
  • Updated Date : 11/10/2020 at 09:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,398 sqft
  • Baths : 2 full
Listing Agent

Century 21 Lois Lauer Realty

Listing Agent's Description

Looking for an exceptional value and a solid return on your investment?? Well here you go!! We have a grand opportunity in this home located in the City of Colton. This home through the years has had some wonderful updates including newer Dual Pane Window, Exterior Stucco, HVAC and Water Heater. The rest of the home will take some work to bring the heart beat back and once you do, you will have a house that you can call home. Home has four bedroom, two bathroom, spacious Living Room, Kitchen with a separate eating area. This home built in 1961 does show its age in the interior and roof as well. Home has a large carport that will fit three vehicles. Also has a workshop that has a couple rooms and also has the Laundry Room with a sink. Home is in a quiet part of Colton that is close to ALL services including schools, Hospital, Freeway and shopping. Bring your tool belt and contractor and let the rehab begin. Lets schedule an appointment and hope to see you in Escrow!! : )

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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: Colton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k459k

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

Neighborhood: Colton

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Paul Rogers Elementary School Primary Regular 767 30 3
Colton Middle School Middle Regular 1,046 44 3
Colton High School High Regular 1,963 74 4

Paul Rogers Elementary School

  • Education Level: Primary
  • # of students: 767
  • # of teachers: 30
3
GreatSchools Rating

Colton Middle School

  • Education Level: Middle
  • # of students: 1,046
  • # of teachers: 44
3
GreatSchools Rating

Colton High School

  • Education Level: High
  • # of students: 1,963
  • # of teachers: 74
4
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$959
Property Tax -$279
Property Insurance -$61
Property Management Fees -$123
CASH FLOW
$658

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.

$259,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.2%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

16.33

YEARS SAVED

$82,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,474

    COMP ESTIMATED VALUE
  • $1.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0804$2,900
$2,900
RENT COMPS ANALYSIS
  • 382 Cypress Avenue Colton, CA 3
    • 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,398 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.49
    •  
  • 484 N 3rd Street Colton, CA 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1946 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1946
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.54
    •  
  • 2113 Chestnut Street San Bernardino, CA 2
    • 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,259 Sqft ∙ Built 1979
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.51
    •  
  • 404 S Rancho Avenue San Bernardino, CA 4
    • 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,283 Sqft ∙ Built 1957
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $2.26
    •  
PROPERTY LISTING DETAILS
Kenneth Adkins
Century 21 Lois Lauer Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20234022
Last Updated: 11/10/2020
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