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6027 Grace Street Chino, CA 91710

3 Beds 3 Baths 1,750 sqft Built 2014

$525,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $300.00
  • 3 Days on Market
  • MLS # : CV20254398
  • Updated Date : 12/11/2020 at 18:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Vision

Listing Agent's Description

Absolutely STUNNING!! This 3 bedroom, 2.5 bath detached condo in the Hillsdale Community of College Park will please even your most discerning buyers. From the moment you walk through the door you will be in awe! Beginning with the custom white stone archway as you enter the family room to the spacious designer kitchen. The kitchen opens up to the family room and offers plenty of storage and counter space and dual ovens. The dark expresso cabinets are in perfect contrast to the light colored granite countertops and custom pearl backsplash. All complimented by the stainless steel appliances and dark engineered wood flooring throughout. As you make your way upstairs you will find a tech center, ideal for our current circumstances. You will also find the luxurious master suite, 2 additional bedrooms with jack and jill bathroom, and laundry room. The master suite features a generous walk-in closet, large soak tub, stand alone shower, dual vanities, and private bathroom area. The cozy backyard has a built-in rectangle fire pit just in time for our cool California nights! This one will not last!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Edwin Rhodes Elementary School Primary Magnet 798 28 8
Edwin Rhodes Elementary School Middle Magnet 798 28 8
Chino High School High Regular 2,369 99 5

Edwin Rhodes Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 28
8
GreatSchools Rating

Edwin Rhodes Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 28
8
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,937
Property Tax -$635
Property Insurance -$70
HOA -$180
Property Management Fees -$146
CASH FLOW
-$498

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.

$525,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.47%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $2,468

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4703$2,5004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 6027 Grace Street Chino, CA 2
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.41
    •  
  • 6044 La Grange Lane Chino, CA 1
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2014
    property image
    LEASED 08/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.32
    •  
  • 14548 Hillsdale Street Chino, CA 3
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2015
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.43
    •  
  • 14642 Marist Lane Chino, CA 4
    • 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,713 Sqft ∙ Built 2013
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.46
    •  
  • 14516 Hillsdale St. Chino, CA 5
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 2016
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.43
    •  
PROPERTY LISTING DETAILS
Leticia Sotomayor
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20254398
Last Updated: 12/11/2020
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