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6783 Pierce Court Chino, CA 91710

3 Beds 3 Baths 2,224 sqft Built 1984

$690,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $310.25
  • 5 Days on Market
  • MLS # : WS21059399
  • Updated Date : 03/25/2021 at 09:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,224 sqft
  • Baths : 3 full
Listing Agent

Re/max Vertex

Listing Agent's Description

Beautifully renovate 3 bedroom, 3 bathroom, 2 story home on a Cul De Sac. Over 2,200 square feet of living space Living room with large windows looking out on designed water efficient landscape front yard. Enjoy open kitchen featuring a large center island, quartz countertop and plenty of cabinetry. Guest bedroom located on the main floor and a loft upstairs. Walk-in closet in the master bedroom and a modern walk-in shower with dual vanities. The loft can be turned into 4th room with its own closet and Jack and Jill bathroom. The spacious backyard comes with a pool and spa, fruit trees and large sitting area. Additional property highlights include customize shutters and panels, energy efficient windows, two tones color carpet, wood flooring and laundry room. Conveniently located nearby restaurants, shopping, parks, and major roads and freeway.

SEE MORE

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
Magnolia Junior High School Middle Regular 684 30 3
Chino High School High Regular 2,369 99 5

Magnolia Junior High School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 30
3
GreatSchools Rating

Chino High School

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

$621,000$759,000$690,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$2,397
Property Tax -$632
Property Insurance -$81
Property Management Fees -$150
CASH FLOW
-$719

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.

$690,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.37%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $2,685

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5404$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 6783 Pierce Court Chino, CA 3
    • 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.14
    •  
  • 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
    •  
  • 576 E Tam O Shanter Street Ontario, CA 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
  • 2819 S Sultana Avenue Ontario, CA 4
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2000
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.27
    •  
  • 13059 Scarborough Avenue Chino, CA 5
    • 4 beds 2 baths ∙ 2,381 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,381 Sqft ∙ Built 2003
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.18
    •  
PROPERTY LISTING DETAILS
Edward Chen
Re/max Vertex
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21059399
Last Updated: 03/25/2021
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