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7192 Meadowlark Place Rancho Cucamonga, CA 91701

3 Beds 1 Baths 1,184 sqft Built 1985

$535,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $451.86
  • 4 Days on Market
  • MLS # : CV21009780
  • Updated Date : 01/29/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,184 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

ANNOUNCING 7192 MEADOWLARK PLACE! This single-story home is located in the heart of Rancho Cucamonga and is within walking distance of Central Park, the Pacific Electric Trail, and the Terra Vista Shipping Center. The home offers a living room with a fireplace and a dining area. There is a nice size kitchen with a breakfast nook. The bedroom nearest to the living room has double doors that can be used as a den or an office. The master bedroom has access to the rear covered patio and has a remodeled master bath. There are two additional bedrooms, a hall bath, and an indoor laundry. The home has new interior paint, vaulted ceilings, wood floorings, and a newer heating and cooling system. The exterior eaves and the patio have been freshly painted too. THE HIDDEN TRUTH is the warm feeling this home has! HURRY DON'T WAIT THIS ONE WON'T LAST LONG!

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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: 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
Vineyard Junior High School Middle Regular 752 27 9
Los Osos High School High Regular 3,211 114 9
Los Osos High School High Unknown NA

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

Los Osos High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,858
Property Tax -$592
Property Insurance -$56
Property Management Fees -$117
CASH FLOW
-$643

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.

$535,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.37%

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-$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$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.67

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,980
1$1,9802$2,0003$2,1004$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7192 Meadowlark Place Rancho Cucamonga, CA 1
    • 3 beds 1 baths ∙ 1,184 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,184 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.67
    •  
  • 7301 Belpine Place Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1989
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.63
    •  
  • 7325 Belpine Place Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,224 Sqft ∙ Built 1989
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
  • 7339 Ambrosia Road Rancho Cucamonga, CA 4
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
  • 11132 Shaw Street Rancho Cucamonga, CA 5
    • 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 1988
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.71
    •  
PROPERTY LISTING DETAILS
Donald Mowery
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21009780
Last Updated: 01/29/2021
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