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6777 Star Pine Court Chino, CA 91710

4 Beds 3 Baths 1,942 sqft Built 1990

$609,900

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $314.06
  • 4 Days on Market
  • MLS # : CV20234178
  • Updated Date : 11/05/2020 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,942 sqft
  • Baths : 3 full
Listing Agent

Believe In Dreams Realty

Listing Agent's Description

Turnkey property centrally located in Chino. Home features 4 large bedrooms, 3 baths & 1,942 SF of open living space spread over two levels. 1 Bedroom and Full bath downstairs. Formal living room & dining room with vaulted ceilings welcome you when you enter the property. There is a large family room w/fireplace, open kitchen w/plenty of cabinet & counter space. Designer neutral paint colors throughout with no detail overlooked. Crown molding, large baseboards, whole house fan, closet organizers, oak kitchen cabinets, granite counter tops & tile and wood flooring. The master bedroom is large and features a remodeled bathroom. There are 2 additional good size bedrooms and remodeled bathroom upstairs. Downstairs there is a large slider off family room that leads to the backyard and covered patio area that feature stamped & stained concrete slab. The well manicured front and rear landscaping show off the true pride of ownership. The owners have recently redone the room and changed out all the windows. Close to shopping, dining, and a California Distinguished School, Edwin Rhodes Elementary.

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MARKET HIGHLIGHTS

  • 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)
  • Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Edwin Rhodes Elementary School Primary Magnet 798 28 8
Edwin Rhodes Elementary School Middle Magnet 798 28 8
Chino High School High Regular 2,369 99 5

Edwin Rhodes Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 28
8
GreatSchools Rating

Edwin Rhodes Elementary School

  • Education Level: Middle
  • # of students: 798
  • # of teachers: 28
8
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$548,910$670,890$609,900

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,250
Property Tax -$583
Property Insurance -$74
Property Management Fees -$147
CASH FLOW
-$565

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.

$609,900

PROJECTED PRICE

$2,490

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$167,374

INVESTMENT

$167,374

Down Payment
$152,475
Rehab Estimate
$5,750
Closing Costs
$9,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,250

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,475
Loan Amount $457,425
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,481

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,4004$2,4905$2,800
$2,800
RENT COMPS ANALYSIS
  • 6777 Star Pine Court Chino, CA 4
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.28
    •  
  • 6999 Grison Street Chino, CA 1
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.20
    •  
  • 14569 Baylor Avenue Chino, CA 2
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.29
    •  
  • 14579 Baylor Avenue Chino, CA 3
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
  • 13852 Dogwood Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,179 Sqft ∙ Built 1993
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.28
    •  
PROPERTY LISTING DETAILS
Kalpesh Mistry
Believe In Dreams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20234178
Last Updated: 11/05/2020
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