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7040 Piedmont Street Chino, CA 91710

3 Beds 3 Baths 1,597 sqft Built 2007

$465,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $291.17
  • 2 Days on Market
  • MLS # : PW20254591
  • Updated Date : 12/12/2020 at 20:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rezman, Inc.

Listing Agent's Description

Turnkey property in the highly desirable College Park community. Ready to move in! Features beautiful new floors, lovingly maintained interiors, and convenient amenities. Wonderful floor plan distributes 1597 sq.ft. spaciously among 3 bedrooms, 2.5 baths, living areas, open kitchen, and upstairs den. Entry showcases high ceiling and an inviting view of the home, and the airy kitchen offers plenty of storage and countertop space, and opens into the dining and living rooms. Half bath and garage are located conveniently off of main living areas. Upstairs, the den provides a cozy nook that can serve as an office, library, or family room. Spacious master bedroom features an ensuite bath and walk-in closet. Stellar community amenities include club house, 2 pools, spa, fitness center, and more. This home is situated in a prime school district, and is close to the Chino Spectrum shopping centers (major retailers like Target, Walmart, TJ Maxx Homegoods, Sam’s Club and more), great dining options, and an upscale outdoor shopping experience at “The Shoppes.” Take a virtual tour of your new home today!

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,716
Property Tax -$563
Property Insurance -$66
HOA -$220
Property Management Fees -$130
CASH FLOW
-$494

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.

$465,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.47%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,290

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $2,212

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,3004$2,4805$2,500
$2,500
RENT COMPS ANALYSIS
  • 7040 Piedmont Street Chino, CA 1
    • 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,597 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.38
    •  
  • 6965 Edinboro Street Chino, CA 2
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2007
    property image
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
  • 14596 Purdue Avenue Chino, CA 3
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2013
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
  • 14580 Purdue Avenue Chino, CA 4
    • 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,724 Sqft ∙ Built 2013
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.44
    •  
  • 14602 Longwood Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,714 Sqft ∙ Built 2009
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.46
    •  
PROPERTY LISTING DETAILS
Han Kim
Rezman, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20254591
Last Updated: 12/12/2020
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