Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7462 Devon Lane Chino, CA 91708

5 Beds 3 Baths 2,464 sqft Built 2018

INVESTimate

$558,000

List Price

$3,130

$2,880 - $3,380

Rent Est.

$595,553  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $226.46
  • 2 Days on Market
  • MLS # : AR20172371
  • Updated Date : 08/25/2020 at 09:37
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,464 sqft
  • Baths : 2 full , 1 half
Listing Agent

Titan One Real Estate

Listing Agent's Description

*CHINO HILLS HIGH SCHOOL* Investor's delight. Solar paid in FULL. Rental income $3050 per month. It offers an open floor plan with granite countertops in the kitchen. Total of 5 bedrooms and 3 bathrooms. On the main level, there is a bedroom and bathroom. On the second level, a spacious loft area down the hallway for your imagination! The spacious master suite includes a walk-in closet, separate hot tub, shower, and toilet room! The 2 other bedrooms are side by side with their bathroom across the hall and laundry room in between. Two-car garage, tankless water heater, Energy Star Solar panels on the roof, and Sea Gull LED lighting. Proximity to all. Don't miss out.

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: Chino

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k560k

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

Neighborhood: Chino

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q21100120013001400150016001700180019002000210022002300Rent in $10822394

* 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
Cal Aero Preserve Academy Primary Regular 1,102 39 7
Cal Aero Preserve Academy Middle Regular 1,102 39 7
Chino Hills High School High Regular 3,012 111 8

Cal Aero Preserve Academy

  • Education Level: Primary
  • # of students: 1,102
  • # of teachers: 39
7
GreatSchools Rating

Cal Aero Preserve Academy

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 39
7
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating
 

$502,200$613,800$558,000

PURCHASE PRICE

$2,817$3,443$3,130

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k$20k$25k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,130
EXPENSES Loan Payment -$2,059
Property Tax -$537
Property Insurance -$87
HOA -$206
Property Management Fees -$185
CASH FLOW
$56

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.

$558,000

PROJECTED PRICE

$3,130

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.73%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,620

INVESTMENT

$153,620

Down Payment
$139,500
Rehab Estimate
$5,750
Closing Costs
$8,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,059

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,500
Loan Amount $418,500
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$48,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,130

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,612

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5504$2,6505$3,130
$3,130
RENT COMPS ANALYSIS
  • 7462 Devon Lane Chino, 5
    • 5 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,464 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,130
    • $1.27
    •  
  • 16051 Begonia Avenue Chino, 1
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 16023 Moonflower Avenue Chino, 2
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 16028 Moonflower Avenue Chino, 3
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007
    property image
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.06
    •  
  • 16087 Moonflower Avenue Chino, 4
    • 5 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,410 Sqft ∙ Built 2007
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Phyllis Cheng
Titan One Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: AR20172371
Last Updated: 08/25/2020
BESbswy