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4591 Crestview Drive Norco, CA 92860

3 Beds 3 Baths 1,700 sqft Built 1964

$609,900

List Price

$2,590

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $358.76
  • 3 Days on Market
  • MLS # : CV20239340
  • Updated Date : 11/13/2020 at 15:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Legacy Homes Management Inc

Listing Agent's Description

Gorgeous, remodeled Norco home with a view! This 3 bedroom 2.5 bath home is ready to move in! Kitchen comes complete with granite countertops, a breakfast bar, and newer cabinets. It opens up to the family room and the dining room! Neutral colored Wood laminate flooring and Wood plantation shutters have been installed throughout the entire home! Crown molding and upgraded baseboards just add to this home's desirability! Family room is spacious and features a stone fireplace and recessed lighting. There is a separate den/sitting room off the dining area and kitchen. All 3 bedrooms have ceiling fans and mirrored closet doors. Master bedroom is large and includes an attached master bathroom! The secondary bathroom has been remodeled with a brand new shower, glass enclosure and double sinks! The laundry room is conveniently located off the kitchen is located next to an extra half bathroom for guests!. There is a separate utility room for extra storage or pantry. The entire exterior and interior have been newly painted and the A/C unit is less than a year old! The garage door is also brand new! The exterior of the property is ready for your ideas and special touches! There is a newer Tuff shed that is included and could be used as storage or workshop. Deck is perfect for relaxing and enjoying the gorgeous views! Firepit is perfect for entertaining. Separate RV access gate off the same street! Did we mention Paid Off Solar Panels??!!

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
Riverview Elementary School Primary Regular 319 12 5
Norco Intermediate School Middle Regular 751 31 7
John F. Kennedy Middle College High School High Magnet 646 22 7

Riverview Elementary School

  • Education Level: Primary
  • # of students: 319
  • # of teachers: 12
5
GreatSchools Rating

Norco Intermediate School

  • Education Level: Middle
  • # of students: 751
  • # of teachers: 31
7
GreatSchools Rating

John F. Kennedy Middle College High School

  • Education Level: High
  • # of students: 646
  • # of teachers: 22
7
GreatSchools Rating
 

$548,910$670,890$609,900

PURCHASE PRICE

$2,331$2,849$2,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,590
EXPENSES Loan Payment -$2,250
Property Tax -$567
Property Insurance -$68
Property Management Fees -$153
CASH FLOW
-$449

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.

$609,900

PROJECTED PRICE

$2,590

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,374

INVESTMENT

$167,374

Down Payment
$152,475
Rehab Estimate
$5,750
Closing Costs
$9,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,250

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,475
Loan Amount $457,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$11,402

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,590

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,605

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5903$2,6004$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 4591 Crestview Drive Norco, CA 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1964 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $1.52
    •  
  • 1020 Carriage Drive Norco, CA 1
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1967
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 3416 Corona Avenue Norco, CA 3
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1972
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
  • 11289 Mercury Court Jurupa Valley, CA 4
    • 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 1976
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.52
    •  
  • 283 8th Street Norco, CA 5
    • 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
Regina Price
Legacy Homes Management Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20239340
Last Updated: 11/13/2020
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