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7216 Amethyst Avenue Alta Loma, CA 91701

3 Beds 2 Baths 1,633 sqft Built 1956

$587,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $359.46
  • 5 Days on Market
  • MLS # : CV21008025
  • Updated Date : 01/15/2021 at 07:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,633 sqft
  • Baths : 2 full
Listing Agent

Excellence Foothill Properties

Listing Agent's Description

Fantastic single story home with a large lot located in Alta Loma. This home features 3 bedrooms and 2 bathrooms with oversized 2 car garage and circular driveway. When you enter the home you'll notice the upgraded tile flooring and trim. The bathrooms have been remodeled with custom glass and tile work. The kitchen and dining areas are wide open and perfect for comfortable gatherings. The large living room boasts recessed lighting and French doors to the backyard. The oversized driveway cement areas offer plenty of room for both storage and RV parking. You'll also find custom window shutters and wood accent flooring throughout. The property location is ideal as its close to every major amenity and easy freeway access. Welcome Home!

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: 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
Alta Loma Elementary School Primary Regular 431 16 6
Alta Loma Junior High School Middle Regular 658 24 7
Alta Loma High School High Regular 2,648 100 8

Alta Loma Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 16
6
GreatSchools Rating

Alta Loma Junior High School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
7
GreatSchools Rating

Alta Loma High School

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

$528,300$645,700$587,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$2,039
Property Tax -$551
Property Insurance -$67
Property Management Fees -$140
CASH FLOW
-$417

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.

$587,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.41%

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-$10k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,305

INVESTMENT

$161,305

Down Payment
$146,750
Rehab Estimate
$5,750
Closing Costs
$8,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,750
Loan Amount $440,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$8,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $2,433

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,3804$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 7216 Amethyst Avenue Alta Loma, CA 3
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.46
    •  
  • 10191 Baseline Road Rancho Cucamonga, CA 1
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1959
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.35
    •  
  • 7638 Granby Avenue Rancho Cucamonga, CA 2
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1976
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 9623 Church Street Rancho Cucamonga, CA 4
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1975
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.44
    •  
  • 8806 Holly Street Rancho Cucamonga, CA 5
    • 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
Paul Pound
Excellence Foothill Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21008025
Last Updated: 01/15/2021
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