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3970 Crestview Drive 
Norco, CA
92860
4 Beds 3 Baths 2,135 sqft
Built 1975
INVESTimate
$679,999
List Price
$185,950
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PROPERTY INFO
FACTS
- Built In 1975
- Price/Sqft : $318.50
- 23 Days on Market
- MLS # : IG20151239
- Updated Date : 08/25/2020 at 16:51
CONSTRUCTION
- Beds : 4
- Floor Size : 2,135 sqft
- Baths : 3 full
Listing Agent
Century 21 Now Realty
Listing Agent's Description
Coming soon to Norco, Horsetown USA. This property is a must see! With 2135 square feet of living space situated on a 1.17 acre lot, This home is filled with upgraded brand new waterproof vinyl wood flooring & fresh paint thru-out, The floor plan boasts 4 bedrooms with large master bedroom with jacuzzi tub & bathroom, huge office with it's own bathroom & private entrance, This 1.17 Acre lot has plenty of room for your RV and gives you plenty of space for your animals, cars, trucks, boats, etc! The huge backyard has a large patio with a built in BBQ Island & table for those fun summer parties, Also has a tack room, a large arena & corals with shelters for your horses. This home is located in walking distance from Ingalls park & equestrian center, also you can walk to the park with ease.
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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: Norco Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Norco Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,480 |
| EXPENSES | Loan Payment | -$2,509 |
| Property Tax | -$633 | |
| Property Insurance | -$79 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$887
|
||
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.
$679,999
PROJECTED PRICE
$2,480
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.56% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$185,950
LOAN DETAILS
$2,509
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $170,000 |
| Loan Amount | $509,999 |
0.33
YEARS SAVED
$588
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,480
LIST RENT -
$1.16
LIST RENT PER SQFT
-
$2,434
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
-
3970 Crestview Drive Norco, 4
- 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 1975
- Rent
- Rent Per SQFT
- $2,480
- $1.16
-
3937 California Avenue Norco, 1
- 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990
LEASED 03/12/19- Rent
- Rent Per SQFT
- $2,000
- $1.05
-
6128 Coral Ridge Drive Riverside, 2
- 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 1989
LEASED 06/13/19- Rent
- Rent Per SQFT
- $2,195
- $1.20
-
3979 California Avenue Norco, 3
- 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,899 Sqft ∙ Built 1990
LEASED 01/24/20- Rent
- Rent Per SQFT
- $2,250
- $1.18
-
6840 Sandy Lane Riverside, 5
- 5 beds 2 baths ∙ 2,477 Sqft ∙ Built 1980 5 beds 2 baths ∙ 2,477 Sqft ∙ Built 1980
LEASED 04/14/20- Rent
- Rent Per SQFT
- $2,795
- $1.13
PROPERTY LISTING DETAILS
Century 21 Now Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20151239
Last Updated: 08/25/2020
