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6088 Malachite Avenue Rancho Cucamonga, CA 91737

4 Beds 3 Baths 2,890 sqft Built 1980

$779,990

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $269.89
  • 3 Days on Market
  • MLS # : IV20230664
  • Updated Date : 11/01/2020 at 19:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,890 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

"FOX HOLLOW" residence for sale. The home is located on a corner lot measuring 19,928 square feet with unabstructed views of the mountains and one of the best sunset views from the Master suite's deck. This 2-story home boasts 4 bedroom, 3 bathroom, formal dinning room & living room and a kitchen that opens up to the family room and wet bar. At almost 3,000 square feet of living area trust the space is ample enough for the family who loves entertaining and holiday parties. Be ready for winter with 3 fire places. There is an extra 5th bedroom downstairs unknown to have permits. Enjoy a large back yard with a built in bbq, plenty of room to roam and a gated swimming pool and jacuzzi. Enjoy great views from the back yard. This property has a 2-car garage attached and a gated RV parking area on the side. This property will need TLC and the price reflects the conditions.

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: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $149k785k

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

Neighborhood: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822925

* 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
Floyd M. Stork Elementary School Primary Regular 742 27 10
Floyd M. Stork Elementary School Middle Regular 742 27 10
Los Osos High School High Regular 3,211 114 9

Floyd M. Stork Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 27
10
GreatSchools Rating

Floyd M. Stork Elementary School

  • Education Level: Middle
  • # of students: 742
  • # of teachers: 27
10
GreatSchools Rating

Los Osos High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 114
9
GreatSchools Rating
 

$701,991$857,989$779,990

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$2,878
Property Tax -$775
Property Insurance -$97
Property Management Fees -$196
CASH FLOW
-$616

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.

$779,990

PROJECTED PRICE

$3,330

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$212,447

INVESTMENT

$212,447

Down Payment
$194,998
Rehab Estimate
$5,750
Closing Costs
$11,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $194,998
Loan Amount $584,993
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$12,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $3,324

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,2003$3,3304$3,4005$3,495
$3,495
RENT COMPS ANALYSIS
  • 6088 Malachite Avenue Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,890 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $1.15
    •  
  • 6285 Sacramento Avenue Rancho Cucamonga, CA 1
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1977
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
  • 8928 Camellia Court Alta Loma, CA 2
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 1974
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.15
    •  
  • 9328 Rancho Street Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 1978
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.22
    •  
  • 10344 Ridgeview Court Rancho Cucamonga, CA 5
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 1989
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.21
    •  
PROPERTY LISTING DETAILS
Michael Nugent
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20230664
Last Updated: 11/01/2020
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