Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6290 Morning Place Rancho Cucamonga, CA 91737

5 Beds 3 Baths 2,765 sqft Built 1994

$875,000

List Price

$3,080

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $316.46
  • 3 Days on Market
  • MLS # : IG21046773
  • Updated Date : 03/06/2021 at 07:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,765 sqft
  • Baths : 3 full
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Wonderful Two Story POOL Home Recently REMODELED Extensively w/NO REAR Neighbors, Sitting on a HUGE, FLAT 12,300sqft Lot & BEAUTIFUL VIEWS of the Surrounding Hills! SPACIOUS Floor-Plan offering 2765sqft w/4 LARGE Bedrooms, Downstairs OFFICE (could be 5th Bedrm) & 3 Full Bathrooms * ENTERTAINER's Backyard w/SPARKLING Pool & Spa w/PEBBLETEC, WRAP-Around Custom Patio Cover w/Ceiling Fans & Drop Down Shades, Fruit Trees (avocado, lemon/orange, apple), Block Walls & PLENTY of GRASS for the Kids to Play * Wonderful ISLAND Kitchen w/GRANITE SLAB Counters/Back-Splash, STAINLESS STEEL Appliances, Beautiful Tiled Flooring & Breakfast Nook * FamilyRm has Cozy Fireplace, Ceiling Fan & In-Ceiling Surround Sound Speakers * Double Door Formal Entry & Formal Living Rm w/SOARING Cathedral Ceilings * UPGRADED Throughout w/Approx 300k w/Custom 2-Toned Interior Paint, PLANTATION SHUTTERS, Crown/Base Molding, CUSTOM DOUBLE DOOR Entry, Tankless Water Heater, Newer AC Units, Roof Remodel, Ceiling Fans, Granite Counters/Stainless Steel Appliances, Mirrored Wardrobes, Bamboo Floors, Rain Gutters, Custom TILED SHOWER & MUCH MORE * Master Bedrm Suite w/High Pitched Ceilings, Reading Lounge, His/Her Closets & PRIVATE Balcony -AND- Master Bath w/His & Her Sinks, OVERSIZED ROMANTIC Garden Tub & Custom Tiled Walk-In Shower * Hidden Storage Room under stairs * OVER-SIZED 3 Car Garage w/OVERHEAD Storage Loft (kids play area) * Nice Curb Appeal w/Low Maintenance Frontyard & Cov. Front Porch * LOW TAXES/NO HOA

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9
Los Osos High School High Unknown NA

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

Los Osos High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$787,500$962,500$875,000

PURCHASE PRICE

$2,772$3,388$3,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,080
EXPENSES Loan Payment -$3,039
Property Tax -$864
Property Insurance -$94
Property Management Fees -$182
CASH FLOW
-$1,099

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.

$875,000

PROJECTED PRICE

$3,080

PROJECTED RENT

0.35%

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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$237,625

INVESTMENT

$237,625

Down Payment
$218,750
Rehab Estimate
$5,750
Closing Costs
$13,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $218,750
Loan Amount $656,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,080

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $3,159

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0003$3,0004$3,0805$3,200
$3,200
RENT COMPS ANALYSIS
  • 6290 Morning Place Rancho Cucamonga, CA 4
    • 5 beds 3 baths ∙ 2,765 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,765 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $3,080
    • $1.11
    •  
  • 11646 Pavia Drive Rancho Cucamonga, CA 1
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1993
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.11
    •  
  • 6762 Colorno Court Rancho Cucamonga, CA 2
    • 5 beds 3 baths ∙ 2,611 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,611 Sqft ∙ Built 1989
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.15
    •  
  • 6656 Catania Place Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2000
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.09
    •  
  • 11230 Vintage Drive Rancho Cucamonga, CA 5
    • 5 beds 3 baths ∙ 2,619 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,619 Sqft ∙ Built 1994
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.22
    •  
PROPERTY LISTING DETAILS
Tom Tennant
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21046773
Last Updated: 03/06/2021
BESbswy