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8017 Southpoint Street Chino, CA 91708

3 Beds 3 Baths 1,982 sqft Built 2012

$528,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $266.40
  • 4 Days on Market
  • MLS # : PW20247214
  • Updated Date : 11/28/2020 at 05:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,982 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zutila, Inc.

Listing Agent's Description

Fabulous KB Home plan in the Birchwood & Greenbrier community of the Preserves. Built in 2012 at 1982 sqft, 3 bedrooms upstairs (master with en suite and walk in closet),+ 2 1/2 baths + very cozy loft, and an open floor plan downstairs with pantry and under stair storage. Listing agents Lynn & Kirk are the homeowners, and we have done the following upgrades to our home: two months ago we repainted the entire downstairs, we upgraded to luxury vinyl 100% waterproof stone composite flooring with new 3 1/2 inch baseboards, we added a new chandelier and upgraded the wifi garage door opener. Additionally last year we have upgraded the entire upstairs to the luxuriously soft Stanton Atelier Muse carpet. The kitchen sink was upgraded to an extra large resin bowl with a new faucet. Tom Dixon pendant lights were added above the kitchen peninsula. Two 8x4 saferacks will help you store more in your large sized two car garage. Also INCLUDED with the home ALL OF THE FOLLOWING ITEMS (yes!!! all included): our entire Samsung suite of appliances, stove, microwave, dishwasher, HE washer and dryer with pedestals, KitchenAid fridge, GE water softener, ART Furniture console, Broyhill library cabinet, 73 inch Mitsubishi DLP TV, window curtains, all kitchen decorations above upper cabinets, nest thermostat, custom 16 gauge metal home address, and entire Frontpoint Security home system. We will give $1000 seller credit at close of escrow to go towards repainting the upstairs. Buy this home!!!

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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: 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
 

$475,200$580,800$528,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,948
Property Tax -$509
Property Insurance -$75
HOA -$223
Property Management Fees -$145
CASH FLOW
-$449

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.

$528,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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-$10k-$5.0k$0.0$5.0k$10k

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$145,670

INVESTMENT

$145,670

Down Payment
$132,000
Rehab Estimate
$5,750
Closing Costs
$7,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,000
Loan Amount $396,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $2,557

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,3903$2,4004$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 8017 Southpoint Street Chino, CA 4
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.24
    •  
  • 16090 Begonia Avenue Chino, CA 1
    • 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,886 Sqft ∙ Built 2007
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.26
    •  
  • 8353 Edgewood Street Chino, CA 2
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.28
    •  
  • 15901 Begonia Avenue Chino, CA 3
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2007
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.28
    •  
  • 15988 Begonia Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,872 Sqft ∙ Built 2009
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.34
    •  
PROPERTY LISTING DETAILS
Kirk Villeneuve
Zutila, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20247214
Last Updated: 11/28/2020
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