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8002 Ramona Avenue Rancho Cucamonga, CA 91730

3 Beds 2 Baths 1,596 sqft Built 1978

$539,888

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $338.28
  • 5 Days on Market
  • MLS # : CV20237528
  • Updated Date : 11/11/2020 at 12:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Re/max Vision

Listing Agent's Description

Beautifully updated/upgraded single story, 3 bedroom, 2 bathroom 1596 sq ft home in Rancho Cucamonga. This home has attractive wood flooring, custom paint, remodeled kitchen and bathrooms. The floor-plan includes a formal living room with brick fireplace, walk-through kitchen with dining area, family room with breakfast nook and an office (possible extra bedroom) off the garage with a bonus area above - could be used as a play area/clubhouse/fort, a loft, extra storage space - use your imagination! The remodeled kitchen has granite countertops, dark wood cabinets, a brand new stove, deep kitchen sink with new touchless faucet and recessed (canister) lighting. The bathrooms have been updated with nicely finished tile shower and tub enclosures, dark wood cabinets and modern countertops. This home includes a new 5-ton air conditioner, indoor laundry, ceiling fans in the breakfast nook & bedrooms, crown molding in the living room, kitchen & breakfast nook, a 2-car attached garage, RV parking, a spacious back yard with new wood fencing, large covered patio and several fruit trees. This home shows great and is priced to sell. Don't miss it, bring us an offer today!

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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: Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $149k597k

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

Neighborhood: Rancho Cucamonga

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
Central Elementary School Primary Regular 510 19 4
Cucamonga Middle School Middle Regular 816 35 7
Alta Loma High School High Regular 2,648 100 8

Central Elementary School

  • Education Level: Primary
  • # of students: 510
  • # of teachers: 19
4
GreatSchools Rating

Cucamonga Middle School

  • Education Level: Middle
  • # of students: 816
  • # of teachers: 35
7
GreatSchools Rating

Alta Loma High School

  • Education Level: High
  • # of students: 2,648
  • # of teachers: 100
8
GreatSchools Rating
 

$485,899$593,877$539,888

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,992
Property Tax -$504
Property Insurance -$66
Property Management Fees -$146
CASH FLOW
-$228

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.

$539,888

PROJECTED PRICE

$2,480

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$148,820

INVESTMENT

$148,820

Down Payment
$134,972
Rehab Estimate
$5,750
Closing Costs
$8,098

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,972
Loan Amount $404,916
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$21,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $2,482

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,3003$2,3954$2,4805$2,650
$2,650
RENT COMPS ANALYSIS
  • 8002 Ramona Avenue Rancho Cucamonga, CA 4
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $1.55
    •  
  • 9814 Louise Way Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.47
    •  
  • 7970 Cambridge Avenue Rancho Cucamonga, CA 2
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1977
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.46
    •  
  • 9810 Madonna Court Rancho Cucamonga, CA 3
    • 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,480 Sqft ∙ Built 1985
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.62
    •  
  • 7958 Cambridge Avenue Rancho Cucamonga, CA 5
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 1977
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.67
    •  
PROPERTY LISTING DETAILS
Dina Romero
Re/max Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20237528
Last Updated: 11/11/2020
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