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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $271.80
- 5 Days on Market
- MLS # : IG20246827
- Updated Date : 11/25/2020 at 15:14
CONSTRUCTION
- Beds : 5
- Floor Size : 2,557 sqft
- Baths : 3 full
Listing Agent
Alliance Residential
Listing Agent's Description
This beautiful 5 bedroom 3 bath home offers 2,557 sq/ft of living space that will welcome you home and provide spacious tranquility. The kitchen will please any chef with its stainless steel appliances which can stay with a full price offer. Including a five burner stove, beautiful cherry cabinetry and lots of counter space. The interior of the house has features many amenities, including granite counter tops in the bathrooms along with upgraded glass shower stalls. This home features a second story loft area with basic kitchenette! The upper bedroomsand loft have newer wood laminate flooring. Down below in the kitchen, dining, living and family rooms there is tile throughout. Cedar lined closets. The living room has ample space for entertaining guests and provides an inviting fireplace to warm you on a cold winters night. The back yard is large enough for many possible future plans and has a newer patio cover. The driveway extends all the way to the backyard for RV parking. The garage has ample storage space for any garage enthusiast. Don't miss out on this excellent opportunity in the beautiful city of Rancho Cucamonga.
SEE MORE
MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Rancho Cucamonga
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rancho Cucamonga
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,930 |
| EXPENSES | Loan Payment | -$2,564 |
| Property Tax | -$649 | |
| Property Insurance | -$89 | |
| Property Management Fees | -$173 | |
|
CASH FLOW
-$545
|
||
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.
$695,000
PROJECTED PRICE
$2,930
PROJECTED RENT
0.42%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$189,925
LOAN DETAILS
$2,564
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $173,750 |
| Loan Amount | $521,250 |
2.08
YEARS SAVED
$11,208
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,930
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$2,883
COMP ESTIMATED VALUE -
$1.13
COMP AVG. RENT PER SQFT
Comps Range
-
7495 Malven Rancho Cucamonga, CA 5
- 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,557 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $2,930
- $1.15
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6215 Kirkwood Avenue Alta Loma, CA 1
- 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 1977
LEASED 08/29/19- Rent
- Rent Per SQFT
- $2,450
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6439 Zircon Avenue Alta Loma, CA 2
- 5 beds 2 baths ∙ 2,564 Sqft ∙ Built 1970 5 beds 2 baths ∙ 2,564 Sqft ∙ Built 1970
LEASED 11/01/19- Rent
- Rent Per SQFT
- $2,700
- $1.05
-
6440 Opal Street Rancho Cucamonga, CA 3
- 5 beds 2 baths ∙ 2,364 Sqft ∙ Built 1971 5 beds 2 baths ∙ 2,364 Sqft ∙ Built 1971
LEASED 12/05/19- Rent
- Rent Per SQFT
- $2,800
- $1.18
-
9339 Ledig Drive Rancho Cucamonga, CA 4
- 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995
LEASED 09/18/20- Rent
- Rent Per SQFT
- $2,800
- $1.22
PROPERTY LISTING DETAILS
Alliance Residential
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20246827
Last Updated: 11/25/2020
