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6040 La Grange Lane Chino, CA 91710

4 Beds 4 Baths 2,340 sqft Built 2014

$559,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $238.89
  • 7 Days on Market
  • MLS # : TR20235998
  • Updated Date : 11/09/2020 at 12:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,340 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mcsen Realty

Listing Agent's Description

This sweet and cozy home is located in the most desirable College Park community in Chino. Featuring 4 bedrooms, 3.5 bathrooms, and a spacious loft area upstairs. One large bedroom with ensuite bathroom and walk-in closet downstairs. Open floor plan gives an expansive space in the kitchen and family room. Stainless appliances, big island, and a powerful good looking range hood make it a paradise for cooking masters. There are so many features. Upgraded Laminated Flooring throughout, Granite Counter Tops, Tankless Water Heater. The grand master suite is nice and serene, accompanied with a separate shower and bathtub, and a large walk-in closet. On the other wing of the second floor, 2 additional bedrooms share 1 full bathroom. The laundry room is just about the right size with lots of cabinets to store everything. The backyard is beautifully landscaped with natural stones on the ground. Watching Roses, Fruit Trees, and Passion fruits hanging above you while sitting under the lovely patio cover. There are no other places to host a BBQ party to treat your friends and families like this. You will be surprised with all the amenities in this master planed community. Club house, pools, 24 hour gym, trail for stroll, tennis courts, basketball courts, playgrounds for children, numerous community parks, and so much more. This is a quiet and safe neighborhood. Very good schools nearby. Close to freeways, shopping plazas, and all kinds of restaurants. This home won’t last long.

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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
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
 

$503,100$614,900$559,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,062
Property Tax -$677
Property Insurance -$84
HOA -$237
Property Management Fees -$159
CASH FLOW
-$519

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.

$559,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.48%

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$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,673

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6503$2,7004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 6040 La Grange Lane Chino, CA 3
    • 4 beds 4 baths ∙ 2,340 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,340 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.15
    •  
  • 14665 Marquette Avenue Chino, CA 1
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2013
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.13
    •  
  • 14359 Haverford Avenue Chino, CA 2
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2013
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.09
    •  
  • 14703 Marquette Avenue Chino, CA 4
    • 4 beds 4 baths ∙ 2,452 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,452 Sqft ∙ Built 2013
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.14
    •  
  • 14693 Norfolk Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2013
    LEASED 11/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.21
    •  
PROPERTY LISTING DETAILS
Wei Xin
Mcsen Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20235998
Last Updated: 11/09/2020
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