Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4790 Pedley Avenue Norco, CA 92860

3 Beds 1 Baths 1,188 sqft Built 1961

$470,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $395.62
  • 5 Days on Market
  • MLS # : IG20242336
  • Updated Date : 11/19/2020 at 09:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,188 sqft
  • Baths : 1 full
Listing Agent

Century 21 Garland

Listing Agent's Description

CHARMING SINGLE STORY HOME JUST MINUTES FROM THE RIVERBED TRAILS*3 BEDROOM 1 BATH 1188 SQ FT HOME IN NORCO HORSETOWN USA*CORNER LOT WITH DOUBLE GATE ON THE SIDE*RV ACCESS*ZONED FOR 1 HORSE*OPEN FLOOR PLAN.

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: 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
 

$423,000$517,000$470,000

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 -$1,734
Property Tax -$437
Property Insurance -$56
Property Management Fees -$131
CASH FLOW
-$138

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.

$470,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$23,709

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
  • $1.87

    LIST RENT PER SQFT
  • $2,174

    COMP ESTIMATED VALUE
  • $1.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1003$2,220
$2,220
RENT COMPS ANALYSIS
  • 4790 Pedley Avenue Norco, CA 3
    • 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,188 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.87
    •  
  • 4738 California Avenue Norco, CA 1
    • 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,060 Sqft ∙ Built 1961
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.79
    •  
  • 659 Vaughan Street Norco, CA 2
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1962
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.87
    •  
PROPERTY LISTING DETAILS
Kathy Rigler
Century 21 Garland
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20242336
Last Updated: 11/19/2020
BESbswy