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7142 Tangerine Place Rancho Cucamonga, CA 91701

3 Beds 2 Baths 1,607 sqft Built 1985

$529,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $329.18
  • 6 Days on Market
  • MLS # : IV20231076
  • Updated Date : 11/06/2020 at 09:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,607 sqft
  • Baths : 1 full , 1 half
Listing Agent

All Nations Realty & Invs

Listing Agent's Description

Great family home. This is one of the larger homes in Terra Vista neighborhood. Features 1607 square feet, 3 bedroom 2 1/2and bath. open floor plan with living room and dining area. Nice family room with fireplace. All bedrooms are upstairs. Large Master bedroom. Property is in original condition and could use some updating. Conveniently located to schools, restaurants and 210 Freeway. Home is in walking distance to shopping and Central park. In-ground spa located in backyard.

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: Terra Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k584k

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

Neighborhood: Terra Vista

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
Victoria Groves Elementary School Primary Regular 534 21 8
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9

Victoria Groves Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 21
8
GreatSchools Rating

Vineyard Junior High School

  • Education Level: Middle
  • # of students: 752
  • # of teachers: 27
9
GreatSchools Rating

Los Osos High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 114
9
GreatSchools Rating
 

$476,100$581,900$529,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,952
Property Tax -$586
Property Insurance -$66
Property Management Fees -$142
CASH FLOW
-$345

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.

$529,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$145,935

INVESTMENT

$145,935

Down Payment
$132,250
Rehab Estimate
$5,750
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$11,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $2,431

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4004$2,4505$2,495
$2,495
RENT COMPS ANALYSIS
  • 7142 Tangerine Place Rancho Cucamonga, CA 3
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.49
    •  
  • 11090 Delaware Street Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1987
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.45
    •  
  • 10783 Sundance Drive Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1986
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
  • 10734 Hampton Place Rancho Cucamonga, CA 4
    • 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,607 Sqft ∙ Built 1986
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.52
    •  
  • 7044 Palm Drive Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 1980
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.58
    •  
PROPERTY LISTING DETAILS
Tony Morales
All Nations Realty & Invs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20231076
Last Updated: 11/06/2020
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