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6984 La Mancha Drive Rancho Cucamonga, CA 91701

4 Beds 3 Baths 1,737 sqft Built 1986

$647,500

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $372.77
  • 3 Days on Market
  • MLS # : CV21056742
  • Updated Date : 03/19/2021 at 13:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,737 sqft
  • Baths : 3 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Beautiful 4 bedroom 3 bathroom home in Rancho Cucamonga. Also includes a bedroom and full bathroom downstairs! This home has been upgraded with granite counter tops, stainless steel appliances, custom back splash, new fixtures, custom paint, and much more! Enjoy the immaculate open concept kitchen and living space with immediate access to the spacious backyard. This backyard is perfectly landscaped and designed for entertaining with plenty of covered patio space and grass for the kids to run around. Located just minutes from schools and shopping, this home will not last!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k709k

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

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822625

* 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
Alta Loma Junior High School Middle Regular 658 24 7
Alta Loma High School High Regular 2,648 100 8

Alta Loma Junior High School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
7
GreatSchools Rating

Alta Loma High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 100
8
GreatSchools Rating
 

$582,750$712,250$647,500

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 -$2,249
Property Tax -$618
Property Insurance -$69
Property Management Fees -$147
CASH FLOW
-$593

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.

$647,500

PROJECTED PRICE

$2,490

PROJECTED RENT

0.38%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,338

INVESTMENT

$177,338

Down Payment
$161,875
Rehab Estimate
$5,750
Closing Costs
$9,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,249

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,875
Loan Amount $485,625
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,057

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
  • $1.43

    LIST RENT PER SQFT
  • $2,545

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4904$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 6984 La Mancha Drive Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,737 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.43
    •  
  • 7444 Spinel Avenue Rancho Cucamonga, CA 1
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1984
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.40
    •  
  • 9020 Avalon Street Rancho Cucamonga, CA 2
    • 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.42
    •  
  • 8984 Sage Drive Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 1986
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.48
    •  
  • 7186 Sierra Vista Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1977
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.56
    •  
PROPERTY LISTING DETAILS
Aaron Stel
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21056742
Last Updated: 03/19/2021
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