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6348 Amberwood Drive Alta Loma, CA 91701

3 Beds 2 Baths 1,404 sqft Built 1973

$525,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $373.93
  • 5 Days on Market
  • MLS # : CV20246848
  • Updated Date : 11/27/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Blackstone Rty

Listing Agent's Description

Charming home with lovely curb appeal is now available to view by appointment. This property is located on a quiet cul-de-sac street. There is a lot to love about this home. For starters, the large 10,000 sq ft lot has a large back yard with a pool that is in great condition and an unobstructed mountain view, as well as a covered patio and lots of room for grass, gardens, shrubs, and trees. This is a very desirable floor plan for anyone who desires a private primary bedroom and bath on the opposite side of the house from the secondary bedrooms. The fireplace is located in the family room, which is adjacent to the kitchen, giving a 'grand room' feel. There is a separate living room that can be used for more formal gatherings, or perhaps as a game room or a formal dining room. Please bring your ideas and creativity with you, as this home is ready for it's next remodel. It is a trust sale and is being sold AS-IS. This is an amazing opportunity to build the home of your dreams, while actually living here at the same time. Showings will begin on 11/28/2020.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Jasper Elementary School Primary Regular 515 20 7
Alta Loma Junior High School Middle Regular 658 24 7
Alta Loma High School High Regular 2,648 100 8

Jasper Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 20
7
GreatSchools Rating

Alta Loma Junior High School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
7
GreatSchools Rating

Alta Loma High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 100
8
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,937
Property Tax -$490
Property Insurance -$61
Property Management Fees -$134
CASH FLOW
-$352

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.

$525,000

PROJECTED PRICE

$2,270

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$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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.62

    LIST RENT PER SQFT
  • $2,296

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3003$2,3254$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 6348 Amberwood Drive Alta Loma, CA 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.62
    •  
  • 8934 Sage Court Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1986
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 8530 Monte Vista Street Rancho Cucamonga, CA 3
    • 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1962
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.71
    •  
  • 8953 Avalon Street Rancho Cucamonga, CA 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1985
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.67
    •  
  • 8806 Holly Street Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.56
    •  
PROPERTY LISTING DETAILS
Jeri Talbott
Coldwell Banker Blackstone Rty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20246848
Last Updated: 11/27/2020
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