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8242 Garden Gate Street Chino, CA 91708

3 Beds 3 Baths 1,603 sqft Built 2006

$479,888

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $299.37
  • 6 Days on Market
  • MLS # : CV20236336
  • Updated Date : 11/13/2020 at 13:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full , 1 half
Listing Agent

Were Real Estate

Listing Agent's Description

OPEN HOUSE BY APPOINTMENT ONLY SATURDAY 11/14 11-3PM & SUNDAY 11/15 12-4PM Pristine home in highly sought-after community of THE PRESERVE! With beautiful curb appeal, you are greeted by the welcoming covered front porch and above balcony. Through the front door you will find an open floor plan space that brings family, dining, and kitchen together. Great for entertaining featuring a stacked stone fireplace and granite covered breakfast bar! Open space is well-lit with recessed lighting and plenty of natural light. Kitchen comes well equipped with stainless steel appliances, plenty of cabinetry for storage and counter space for all you cooking needs! Separate inside laundry area and guest bathroom down stairs. Large Master Suite upstairs features balcony access and is connected to master bathroom with separate soaking tub and shower. Two additional spacious bedrooms and double sinks bathroom with additional loft area that can be used as living or office space. Located in the award-winning Chino Valley Unified School District, this community boasts Parkhouse Community Center, pool, tennis courts, fitness center, paw park, children’s playground, and tot playground!

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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: 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
 

$431,899$527,877$479,888

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,771
Property Tax -$462
Property Insurance -$66
HOA -$275
Property Management Fees -$130
CASH FLOW
-$504

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.

$479,888

PROJECTED PRICE

$2,200

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,920

INVESTMENT

$132,920

Down Payment
$119,972
Rehab Estimate
$5,750
Closing Costs
$7,198

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,972
Loan Amount $359,916
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,593

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,204

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2004$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 8242 Garden Gate Street Chino, CA 3
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.37
    •  
  • 8547 Founders Grove Street Chino, CA 1
    • 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2016
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.37
    •  
  • 8146 Wishing Well Lane Chino, CA 2
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.36
    •  
  • 8138 W Preserve Chino, CA 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 2006
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.39
    •  
  • 8419 E Preserve Chino, CA 5
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2009
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.38
    •  
PROPERTY LISTING DETAILS
Kevin Gonzalez
Were Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20236336
Last Updated: 11/13/2020
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