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7728 Hess Place #1 Rancho Cucamonga, CA 91739

3 Beds 3 Baths 1,547 sqft Built 2004

$434,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $281.12
  • 5 Days on Market
  • MLS # : IV20233979
  • Updated Date : 11/13/2020 at 07:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,547 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Time Realty

Listing Agent's Description

Strathmore Complex is located just a block west of Victoria Gardens Mall. First floor of this condo features a formal living room, formal dining room, family room with fireplace, dining area, kitchen with breakfast counter and a powder room. Second floor features the master bedroom with its private bath and two addition bedrooms, another full bath and a laundry area. Additional features include an enclosed patio, two car attached garage with roll up doors with direct access. HOA amenities include community pool, spa and playground. You will love this great location which is just walking distance to shopping, entertainment and fine dining. property is tenant occupied and the pictures are prior to tenant moving in.

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: Victoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k628k

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

Neighborhood: Victoria

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10822537

* 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
 

$391,410$478,390$434,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,605
Property Tax -$504
Property Insurance -$65
HOA -$235
Property Management Fees -$140
CASH FLOW
-$178

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.

$434,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.2%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $2,371

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,4003$2,4004$2,4255$2,500
$2,500
RENT COMPS ANALYSIS
  • 7728 Hess Place Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.53
    •  
  • 12215 N Mainstreet Rancho Cucamonga, CA 2
    • 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,547 Sqft ∙ Built 2004
    property image
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.55
    •  
  • 12252 Chantrelle Drive Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2004
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.59
    •  
  • 7736 Chambray Place Rancho Cucamonga, CA 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $1.47
    •  
  • 12212 Chantrelle Drive Rancho Cucamonga, CA 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Irma Nunez
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20233979
Last Updated: 11/13/2020
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