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6741 Mystic Canyon Drive Chino Hills, CA 91709

3 Beds 3 Baths 1,531 sqft Built 1988

INVESTimate

$568,000

List Price

$2,310

$2,079 - $2,541

Rent Est.

$597,025  ( +5.11%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1988
  • Price/Sqft : $371.00
  • 9 Days on Market
  • MLS # : WS20168905
  • Updated Date : 08/18/2020 at 16:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,531 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meiguo Realty Grp

Listing Agent's Description

Spacious, bright and charming 3 Bedroom, 2.5 Bath home in desirable Chino Hills has wide plank laminate wood floors throughout. New interior and Exterior paint and window coverings downstairs 1/2 bathroom newly renovated. Lovely kitchen counters, hood over the stove, plenty of pantry space, and a garden window over the sink. breakfast nook has bay windows overlooking the front yard. Large living room has a cozy brick fireplace and cathedral ceilings. There is a good sized master suite. Bathrooms have nice lighting fixtures and hardware. Formal Dining room has a slider door that leads out to a great backyard landscaped with fruit trees with Move in ready!

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: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k727k

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

Neighborhood: Chino Hills

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822735

* 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
Butterfield Ranch Elementary School Primary Regular 769 27 8
Butterfield Ranch Elementary School Middle Regular 769 27 8
Chino Hills High School High Regular 3,012 111 8

Butterfield Ranch Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 27
8
GreatSchools Rating

Butterfield Ranch Elementary School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 27
8
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating
 

$511,200$624,800$568,000

PURCHASE PRICE

$2,079$2,541$2,310

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,096
Property Tax -$549
Property Insurance -$64
Property Management Fees -$136
CASH FLOW
-$535

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.

$568,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.11%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,270

INVESTMENT

$156,270

Down Payment
$142,000
Rehab Estimate
$5,750
Closing Costs
$8,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,096

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,000
Loan Amount $426,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.51

    LIST RENT PER SQFT
  • $2,308

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,3105$2,400
$2,400
RENT COMPS ANALYSIS
  • 6741 Mystic Canyon Drive Chino Hills, 4
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.51
    •  
  • 17871 Shady View Drive Chino Hills, 1
    • 3 beds 4 baths ∙ 1,506 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,506 Sqft ∙ Built 2007
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.46
    •  
  • 6563 Coyote Street Chino Hills, 2
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
  • 6714 Wrangler Road Chino Hills, 3
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
  • 18051 Arroyo Lane Chino Hills, 5
    • 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.57
    •  
PROPERTY LISTING DETAILS
In-hua Chen
Meiguo Realty Grp
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS20168905
Last Updated: 08/18/2020
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