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4945 Irving Court Chino, CA 91710

3 Beds 2 Baths 1,494 sqft Built 1973

$585,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $391.57
  • 13 Days on Market
  • MLS # : TR21022256
  • Updated Date : 02/12/2021 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

GREAT FAMILY HOME in a FANTASTIC CUL DE SAC of CHINO. Friendly neighborhood. This property features 3 BEDROOMS 2 BATHROOMS, OPEN FLOOR PLAN with VAULTED CEILINGS leads to the Living room, Dining room, family room, Kitchen and an additional BONUS ROOM with approximately 500 sqft. not reflected on title. BONUS ROOM has its own A/C SPLIT and SLIDING DOOR with direct access to the backyard. You will find a FIREPLACE in the FAMILY ROOM. This property also features a SPACIOUS BACKYARD great for entertaining and family gatherings. You will find SOLAR PANELS by TESLA on the property and all transferrable to the new buyer. This property had the following upgrades done within the last 5 years: Newer POOL and EQUIPMENT, PATIO, ROOF and GARAGE DOOR. This property will not last. Virtual Tour: https://exp.vr-360-tour.com/e/qSYBd5EH36A/e MUST SEE!!!

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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: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Ramona Junior High School Middle Regular 579 28 3
Don Antonio Lugo High School High Regular 1,745 81 5

Ramona Junior High School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 28
3
GreatSchools Rating

Don Antonio Lugo High School

  • Education Level: High
  • # of students: 1,745
  • # of teachers: 81
5
GreatSchools Rating
 

$526,500$643,500$585,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$2,032
Property Tax -$536
Property Insurance -$63
Property Management Fees -$127
CASH FLOW
-$608

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.

$585,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
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

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$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $1.45

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,3005$2,550
$2,550
RENT COMPS ANALYSIS
  • 4945 Irving Court Chino, CA 2
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.44
    •  
  • 4975 Madison Avenue Chino, CA 1
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1976
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.49
    •  
  • 11883 Ottawa Place Chino, CA 3
    • 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,450 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.52
    •  
  • 12484 Catalpa Avenue Chino, CA 4
    • 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 1964
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.38
    •  
  • 12059 Dunlap Place Chino, CA 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 1972
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.42
    •  
PROPERTY LISTING DETAILS
Annabelle Pacheco
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21022256
Last Updated: 02/12/2021
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