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7179 Scalea Place Rancho Cucamonga, CA 91701

3 Beds 3 Baths 1,494 sqft Built 1994

$525,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $351.41
  • 5 Days on Market
  • MLS # : SB20231473
  • Updated Date : 11/11/2020 at 14:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full , 1 half
Listing Agent

3 Leaf Realty Inc

Listing Agent's Description

Endless mountain views on a large corner lot! This 3 Bedroom/2.5 Bathroom single family home is located in the sought-after Victoria Park neighborhood. With tile floors downstairs, new top-quality carpeting upstairs, and new interior paint, this home is immaculate! Walk into the spacious living room that is filled with natural light enhanced by the cathedral ceiling and overlooks the large formal dining area. Sit next to the living room fireplace and enjoy the mountain view or pull up your barstool to the gorgeous granite counter in the kitchen and help with the meal prep. New appliances and pull out cabinet shelves make this kitchen ready for anyone. Your open kitchen is adjacent to an eating area/family room that has ample room for an entertainment center. This home boasts a master bedroom with an en-suite bathroom and tons of closet space in all the bedrooms. A half bathroom downstairs is a convenience for everyone. Enjoy the shade of the Pergola in your large, landscaped backyard, as you barbeque and enjoy more mountain views. A two-car garage features custom cabinets and a worktable that are truly a unique find. Close to Ellena Park, bike trails, and award-winning schools, this home is move-in ready.

SEE MORE

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: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k628k

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

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822537

* 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
Carleton P. Lightfoot Elementary School Primary Regular 608 25 9
Day Creek Intermediate School Middle Regular 1,256 49 10
Rancho Cucamonga High School High Regular 3,462 123 9

Carleton P. Lightfoot Elementary School

  • Education Level: Primary
  • # of students: 608
  • # of teachers: 25
9
GreatSchools Rating

Day Creek Intermediate School

  • Education Level: Middle
  • # of students: 1,256
  • # of teachers: 49
10
GreatSchools Rating

Rancho Cucamonga High School

  • Education Level: High
  • # of students: 3,462
  • # of teachers: 123
9
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,937
Property Tax -$537
Property Insurance -$63
Property Management Fees -$135
CASH FLOW
-$392

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.

$525,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$9,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2803$2,3004$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 7179 Scalea Place Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,494 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.53
    •  
  • 7089 Pozallo Place Alta Loma, CA 1
    • 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 1989
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.48
    •  
  • 6940 Belluno Place Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,418 Sqft ∙ Built 1989
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.62
    •  
  • 6939 Belluno Place Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 1,545 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,545 Sqft ∙ Built 1989
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.52
    •  
  • 7269 Cosenza Place Rancho Cucamonga, CA 5
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 1994
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
PROPERTY LISTING DETAILS
Jeremiah Carew
3 Leaf Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: SB20231473
Last Updated: 11/11/2020
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