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6631 Kern Place Rancho Cucamonga, CA 91701

3 Beds 3 Baths 1,700 sqft Built 1988

$629,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $370.53
  • 4 Days on Market
  • MLS # : CV21051516
  • Updated Date : 03/11/2021 at 17:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home View Realty

Listing Agent's Description

Great house in a highly desirable neighborhood in the Alta Loma area. NO HOA fees!!! This home includes a warm and inviting downstairs with an open concept formal living/dining area, guest bathroom, family room with a fireplace, and a conveniently located kitchen. Crown molding in the family room and newly installed plantation blinds in the family room, kitchen, and formal living room areas. Upon opening the sliding doors, you and your guests are welcomed into your private backyard complete with a covered patio and you can enjoy your very own pool and spa. It is gated for added safety. Upstairs you will find the master bedroom and bathroom en-suite and 2 bedrooms with a Jack & Jill bathroom. Other features include high ceilings, a laundry room, and two car attached garage.

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: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k597k

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

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822522

* 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
 

$566,910$692,890$629,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$2,188
Property Tax -$620
Property Insurance -$68
Property Management Fees -$145
CASH FLOW
-$561

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.

$629,900

PROJECTED PRICE

$2,460

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 6.7%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,674

INVESTMENT

$172,674

Down Payment
$157,475
Rehab Estimate
$5,750
Closing Costs
$9,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,475
Loan Amount $472,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $2,550

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4603$2,5504$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 6631 Kern Place Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.45
    •  
  • 11089 Carlow Court Rancho Cucamonga, CA 1
    • 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1988
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.45
    •  
  • 6590 Purdue Ct Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,650 Sqft ∙ Built 1989
    property image
    LEASED 02/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.55
    •  
  • 10901 Rollins Court Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,820 Sqft ∙ Built 1987
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.43
    •  
  • 6599 Hartford Court Rancho Cucamonga, CA 5
    • 4 beds 3 baths ∙ 1,717 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,717 Sqft ∙ Built 1989
    property image
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.57
    •  
PROPERTY LISTING DETAILS
Mian Kardar
Home View Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21051516
Last Updated: 03/11/2021
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