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6833 Lacey Court Chino, CA 91710

4 Beds 3 Baths 2,300 sqft Built 1991

INVESTimate

$615,000

List Price

$2,610

$2,360 - $2,860

Rent Est.

$656,390  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $267.39
  • 6 Days on Market
  • MLS # : CV20171800
  • Updated Date : 08/21/2020 at 13:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Reliance Real Estate Services

Listing Agent's Description

Welcome to this lovely 4 bedroom, 2 1/2 bath stunner in the heart of Chino!! As you drive up, you immediately notice the fantastic curb appeal of this gem, from the quiet cul de sac street to the large front courtyard. Open the door and you are transported by the gorgeous hand done mosaic tiles in the entry and custom wrought iron stair rails. The large and inviting living room and dining room are bright and have vaulted ceilings and newer carpeting. The kitchen is perfect for making holiday meals and entertaining, with its attached eating bar and breakfast nook there's room for everyone! The large family room's cozy fireplace is perfect for an evening at home during the winter or walk out into the backyard for some summer fun. A half bath and indoor laundry room finish the lower level. Upstairs are all four bedrooms. The Master Bedroom with double door entry and en suite Master Bath, that has dual sinks, bath, step in shower and large walk-in closet. The three secondary bedroom are large, carpeted and all have larger closets. A second full bath for these bedroom has dual sinks, tub/shower unit and linen storage cabinets. The final room is an oversized bonus room. Perfect for making into a game room or even fifth bedroom. And if the interior wasn't enough, the backyard is spectacular!! The large covered patio is a must see and ready for all types of outdoor events and parties! Too many amenities to list, you need to see this home!! Don't let this beauty get away!!!

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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

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
Howard Cattle Elementary School Primary Regular 695 24 4
Howard Cattle Elementary School Middle Regular 695 24 4
Chino High School High Regular 2,369 99 5

Howard Cattle Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 24
4
GreatSchools Rating

Howard Cattle Elementary School

  • Education Level: Middle
  • # of students: 695
  • # of teachers: 24
4
GreatSchools Rating

Chino High School

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

$553,500$676,500$615,000

PURCHASE PRICE

$2,349$2,871$2,610

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,269
Property Tax -$588
Property Insurance -$83
Property Management Fees -$154
CASH FLOW
-$484

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.

$615,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.73%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$9,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,639

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6103$2,7504$2,7505$2,850
$2,850
RENT COMPS ANALYSIS
  • 6833 Lacey Court Chino, 2
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.13
    •  
  • 12938 Fern Avenue Chino, 1
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1987
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.15
    •  
  • 13234 Chukar Court Chino, 3
    • 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,319 Sqft ∙ Built 1989
    LEASED 07/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.19
    •  
  • 13610 San Antonio Avenue Chino, 4
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1991
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.16
    •  
  • 6844 Groves Street Chino, 5
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1991
    LEASED 07/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Maria Kajcienski
Reliance Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20171800
Last Updated: 08/21/2020
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