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780 Saddle Way Norco, CA 92860

4 Beds 2 Baths 3,000 sqft Built 1969

$739,999

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1969
  • Price/Sqft : $246.67
  • 4 Days on Market
  • MLS # : DW21037723
  • Updated Date : 02/26/2021 at 11:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,000 sqft
  • Baths : 2 full
Listing Agent

Century 21 Realty Masters

Listing Agent's Description

Welcome Home! This home is nestled in a quiet, friendly, and highly desirable cul-de-sac neighborhood. In this home you will find your perfect getaway for enjoying some quiet and relaxation. Sitting on over half an acre, there is much to enjoy in this home. As you approach the property you will notice the private circular driveway with beautiful wrought iron fencing. Making your way into the home you will notice the beautiful craftsman wood throughout the home, the huge family room, formal dining room, and beautiful fireplace in the living room. Also, the large master bedroom suite includes its own separate office. In addition to the many great features of the interior, you'll also fall in love with the exterior! The large lot provides a huge driveway perfect for an Rv, a total of 5 car garages separated into two structures, which offers many possibilities of use. The large, well kept garden is perfect for entertaining guests and hosting events and even features a beautiful gazebo. The location of this home makes it perfect for entertaining and enjoying the beautiful views of the sunset and mountains. With just a few finishing touches, this home has so much potential for someone looking to make this their own paradise. Just Minutes Away from Hwy 15,91,60. This home will not last so book your private showing today!

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: Norco

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $149k643k

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

Neighborhood: Norco

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10822691

* 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
Norco Intermediate School Middle Regular 751 31 7
Norco High School High Regular 2,244 83 7
Norco Intermediate School Middle Unknown NA

Norco Intermediate School

  • Education Level: Middle
  • # of students: 751
  • # of teachers: 31
7
GreatSchools Rating

Norco High School

  • Education Level: High
  • # of students: 2,244
  • # of teachers: 83
7
GreatSchools Rating

Norco Intermediate School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$665,999$813,999$739,999

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,570
Property Tax -$689
Property Insurance -$100
Property Management Fees -$158
CASH FLOW
-$837

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.

$739,999

PROJECTED PRICE

$2,680

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $185,000
Loan Amount $554,999
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $3,040

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,8003$3,1004$3,350
$3,350
RENT COMPS ANALYSIS
  • 780 Saddle Way Norco, CA 1
    • 4 beds 2 baths ∙ 3,000 Sqft ∙ Built 1969 4 beds 2 baths ∙ 3,000 Sqft ∙ Built 1969
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.89
    •  
  • 4141 River Ridge Drive Norco, CA 2
    • 5 beds 3 baths ∙ 3,339 Sqft ∙ Built 1986 5 beds 3 baths ∙ 3,339 Sqft ∙ Built 1986
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.84
    •  
  • 1050 La Salle Circle Corona, CA 3
    • 5 beds 3 baths ∙ 3,137 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,137 Sqft ∙ Built 1989
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.99
    •  
  • 2248 Corona Avenue Norco, CA 4
    • 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,777 Sqft ∙ Built 1970
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.21
    •  
PROPERTY LISTING DETAILS
Gus Guzman
Century 21 Realty Masters
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21037723
Last Updated: 02/26/2021
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