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6223 Lafayette Street Chino, CA 91710

4 Beds 4 Baths 2,618 sqft Built 2013

INVESTimate

$610,000

List Price

$2,910

$2,660 - $3,160

Rent Est.

$651,053  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $233.00
  • 6 Days on Market
  • MLS # : CV20171556
  • Updated Date : 08/24/2020 at 13:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,618 sqft
  • Baths : 3 full , 1 half
Listing Agent

Kw Vision

Listing Agent's Description

Welcome to this beautiful 4 bedroom, 3.5 bath home with 3 car garage in the highly desirable Madison Community of College Park. This home features a bedroom suite downstairs and master suite upstairs. The kitchen has light granite countertops and dark maple cabinets that are perfectly complemented by the stainless steel appliance. The kitchen offers plenty of counter and storage space and opens up to the family room. The spacious family room has a custom stone fireplace perfect for our upcoming Fall/Winter weather. This property also comes with a secondary prep kitchen complete with a small refrigerator and cooktop adding extra space for food prep and storage. College Park has great community amenities, which include 2 huge pools, clubhouse, gym, BBQ and picnic area and more. This home will please even your most discerning buyers. Don't wait- Call us today!

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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
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$2,251
Property Tax -$738
Property Insurance -$91
HOA -$212
Property Management Fees -$172
CASH FLOW
-$553

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.

$610,000

PROJECTED PRICE

$2,910

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.73%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,880

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$2,9004$2,9105$3,000
$3,000
RENT COMPS ANALYSIS
  • 6223 Lafayette Street Chino, 4
    • 4 beds 4 baths ∙ 2,618 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,618 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $1.11
    •  
  • 14359 Haverford Avenue Chino, 1
    • 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,430 Sqft ∙ Built 2013
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.09
    •  
  • 6206 Castleton Street Chino, 2
    • 4 beds 4 baths ∙ 2,683 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,683 Sqft ∙ Built 2014
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 6229 Hilbert Street Chino, 3
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2014
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.11
    •  
  • 6319 Cumberland St. Chino, 5
    • 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,579 Sqft ∙ Built 2012
    property image
    LEASED 08/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.16
    •  
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 #: CV20171556
Last Updated: 08/24/2020
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