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7087 Agate Street Rancho Cucamonga, CA 91701

4 Beds 2 Baths 1,857 sqft Built 1963

$579,000

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $311.79
  • 2 Days on Market
  • MLS # : CV20235215
  • Updated Date : 11/07/2020 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,857 sqft
  • Baths : 2 full
Listing Agent

Realty One Group West

Listing Agent's Description

Home for the Holidays! This single story charmer is situated in a well established Alta Loma neighborhood.The home offers beautiful mountain views in a tranquil, private garden setting. As you enter the front of the home through it’s peaceful courtyard you will see the living room with a cozy fireplace and window that looks out over the picturesque back yard. This home has a large dining area that is open to the kitchen and great room, perfect for family gatherings. Home boasts 4 bedrooms (one currently used as a craft room) two bathrooms, both bathrooms have been tastefully updated. The kitchen has been updated as well and offers ample storage and white wood cabinets with tons of natural light. Newer features include, roof, water heater, deluxe vinyl fencing, tasteful wood like vinyl flooring, newer electrical panel/plumbing. Other features are, convenient garage access, crown moulding throughout, ceiling fans, recessed lighting and so much more. Located in an award winning school district and close by to so many other amenities. You must see it in person to fully appreciate all this home has to offer!!

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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: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k597k

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

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822522

* 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
Carnelian Elementary School Primary Regular 493 18 8
Carnelian Elementary School Middle Regular 493 18 8
Alta Loma High School High Regular 2,648 100 8

Carnelian Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 18
8
GreatSchools Rating

Carnelian Elementary School

  • Education Level: Middle
  • # of students: 493
  • # of teachers: 18
8
GreatSchools Rating

Alta Loma High School

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

$521,100$636,900$579,000

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,136
Property Tax -$552
Property Insurance -$72
Property Management Fees -$156
CASH FLOW
-$267

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.

$579,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.46%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$21,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.43

    LIST RENT PER SQFT
  • $2,851

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,4754$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 7087 Agate Street Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.43
    •  
  • 7425 Carnelian Street Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1966 3 beds 3 baths ∙ 1,522 Sqft ∙ Built 1966
    property image
    LEASED 08/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.61
    •  
  • 9630 Balsa Street Rancho Cucamonga, CA 2
    • 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,734 Sqft ∙ Built 1968
    property image
    LEASED 06/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.41
    •  
  • 9006 La Vine Street Alta Loma, CA 3
    • 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,582 Sqft ∙ Built 1963
    property image
    LEASED 05/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $1.56
    •  
  • 8806 Holly Street Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.56
    •  
PROPERTY LISTING DETAILS
Holly Thomas
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20235215
Last Updated: 11/07/2020
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