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7367 Tradition Pl Rancho Cucamonga, CA 91730

4 Beds 3 Baths 1,755 sqft Built 2001

$545,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $310.54
  • 4 Days on Market
  • MLS # : TR20231066
  • Updated Date : 11/05/2020 at 12:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 2 full , 1 half
Listing Agent

Green Force, Inc.

Listing Agent's Description

Don’t miss out on this cozy home perfect for any family! This beautiful home features two floors with a total of 4 bedrooms and 2 bathrooms. The kitchen is showered in sunlight and leads to the spacious backyard. The floors and walls are well maintained, showing off a comfortable living space. What’s even better is the safe and convenient location. The house sits in the Village of Independence gated-community, just minutes away from Victoria Gardens and Ontario Mills. It is part of the award-winning Rancho Cucamonga school district and within walking distance of Terra Vista Elementary.

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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
Terra Vista Elementary School Primary Regular 772 31 10
Etiwanda Intermediate School Middle Regular 1,305 51 8
Rancho Cucamonga High School High Regular 3,462 123 9

Terra Vista Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 31
10
GreatSchools Rating

Etiwanda Intermediate School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 51
8
GreatSchools Rating

Rancho Cucamonga High School

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

$490,500$599,500$545,000

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 -$2,011
Property Tax -$558
Property Insurance -$70
HOA -$72
Property Management Fees -$140
CASH FLOW
-$471

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.

$545,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.44%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$150,175

INVESTMENT

$150,175

Down Payment
$136,250
Rehab Estimate
$5,750
Closing Costs
$8,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,250
Loan Amount $408,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,042

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
  • $1.36

    LIST RENT PER SQFT
  • $2,448

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3803$2,3904$2,4005$2,495
$2,495
RENT COMPS ANALYSIS
  • 7367 Tradition Pl Rancho Cucamonga, CA 2
    • 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.36
    •  
  • 7404 Oxford Place Rancho Cucamonga, CA 1
    • 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,755 Sqft ∙ Built 2000
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.31
    •  
  • 7250 Altari Place Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 1,776 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,776 Sqft ∙ Built 1995
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.35
    •  
  • 7269 Cosenza Place Rancho Cucamonga, CA 4
    • 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
    •  
  • 11855 Gage Drive Rancho Cucamonga, CA 5
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 2001
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.42
    •  
PROPERTY LISTING DETAILS
Kai Ting
Green Force, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20231066
Last Updated: 11/05/2020
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