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6250 Cartilla Avenue Rancho Cucamonga, CA 91737

3 Beds 2 Baths 1,255 sqft Built 1977

$519,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $414.26
  • 5 Days on Market
  • MLS # : CV20261143
  • Updated Date : 12/23/2020 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 2 full
Listing Agent

Meridian Property Group

Listing Agent's Description

Wonderful POOL home in North Rancho Cucamonga! 3 spacious bedrooms, 2 full baths, large kitchen open to the family room complete with toasty fireplace. Wood flooring in family room, kitchen, and hallway. tile floor in bathrooms and bedrooms. Ceiling fans, central air and heat, dual-pane windows, blinds, recessed lights, granite counters in kitchen and bathrooms. Laundry room originally located inside the garage, and now is enclosed with drywall and door separated from garage area. Side and back yard with RV parking, fruit trees, concrete decking, custom pool, spa, and thrilling rock waterfall all with sunset and mountain views!

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: 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
Hermosa Elementary School Primary Regular 527 20 6
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9

Hermosa Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 20
6
GreatSchools Rating

Vineyard Junior High School

  • Education Level: Middle
  • # of students: 752
  • # of teachers: 27
9
GreatSchools Rating

Los Osos High School

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

$467,910$571,890$519,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,918
Property Tax -$496
Property Insurance -$58
Property Management Fees -$135
CASH FLOW
-$317

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.

$519,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$13,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.82

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3003$2,4004$2,4955$2,550
$2,550
RENT COMPS ANALYSIS
  • 6250 Cartilla Avenue Rancho Cucamonga, CA 1
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.82
    •  
  • 6610 Brighton Place Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1988
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.57
    •  
  • 6607 Kinlock Avenue Rancho Cucamonga, CA 3
    • 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,559 Sqft ∙ Built 1984
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.54
    •  
  • 7044 Palm Drive Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1980
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.58
    •  
  • 10364 Mahogany Court Rancho Cucamonga, CA 5
    • 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,552 Sqft ∙ Built 1988
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.64
    •  
PROPERTY LISTING DETAILS
Scott Cheramie
Meridian Property Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20261143
Last Updated: 12/23/2020
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