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7231 Teak Way Alta Loma, CA 91701

4 Beds 2 Baths 1,512 sqft Built 1975

$560,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $370.37
  • 2 Days on Market
  • MLS # : EV21019273
  • Updated Date : 01/30/2021 at 05:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Adorable Home in the Foothills of Rancho Cucamonga offers 4 Bedrooms and PLENTY OF PARKING for Everyone! GORGEOUS HARDWOOD FLOORING, Recessed Lighting, Upgraded Tile Bathrooms. Living Room is Spacious & Has a Cozy WOOD-BURNING FIREPLACE for Family Gatherings! JUST FRESHLY PAINTED, Ceiling Fans Throughout! Tiled Roof, RV PARKING, HUGE BACKYARD with Covered Patio! Front Yard Has DROUGHT-RESISTANT LANDSCAPING with Sprinkler System for Easy Maintenance! Excellent Location Just a Block or Two from Restaurants & Stores! Victoria Gardens is a Short Drive Too!

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*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $149k709k

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

Neighborhood: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822625

* 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 Junior High School Middle Regular 658 24 7
Alta Loma High School High Regular 2,648 100 8

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
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,945
Property Tax -$526
Property Insurance -$64
Property Management Fees -$136
CASH FLOW
-$361

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.

$560,000

PROJECTED PRICE

$2,310

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

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,415

    COMP ESTIMATED VALUE
  • $1.6

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3103$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 7231 Teak Way Alta Loma, CA 2
    • 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,512 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.53
    •  
  • 7051 Newton Place Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1986
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.64
    •  
  • 7638 Granby Avenue Rancho Cucamonga, CA 3
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1976
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 9968 Palo Alto Street Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,491 Sqft ∙ Built 1988
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.61
    •  
  • 6763 Berkshire Avenue Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1977
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.53
    •  
PROPERTY LISTING DETAILS
Angelique Koster
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV21019273
Last Updated: 01/30/2021
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