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8344 Banyan Street Rancho Cucamonga, CA 91701

5 Beds 2 Baths 2,453 sqft Built 1976

$849,800

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $346.43
  • 5 Days on Market
  • MLS # : CV21055309
  • Updated Date : 03/17/2021 at 16:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,453 sqft
  • Baths : 2 full
Listing Agent

Help-u-sell Prestige Prop's

Listing Agent's Description

Wonderful 5 bedroom/3 bath home situated on a HUGE oversized 20,064 sq foot lot! Appreciating majestic mountain views from the backyard this property offers wonderful outdoor enjoyment. Freshly painted interior just completed in neutral color palette plus all new laminate flooring throughout the entire home!! Courtyard entry leads to formal entry w/spacious formal living room boasting dramatic high ceilings & formal dining room. Desirable downstairs bedroom and 3/4 guest bath also located on the first level. Kitchen shows light & bright w/white cabinetry, recessed lighting, island, stainless appliances, bar-top dining & breakfast nook. The kitchen has an abundance of counter space to serve & prepare plus generous storage. Kitchen opens to a nicely sized family room that features a fireplace. Upper level master suite has walk in closet & the bathroom has dual sink vanity with shower/tub combination. Upstairs guest bedroom is a peaceful retreat with French doors providing access to a private large covered balcony. The backyard amenities include a covered patio-perfect for outdoor entertaining, fire-pit, barbecue island with seating & decorative pavers used through much of the backyard. Steps lead to an expansive level lawn & private sport court. Gate at the back of property conveniently provides access to a walking/bike trail. RV parking that is gated is another bonus this property offers. 3 car garage w/generous driveway parking. Close to area shopping/dining and 210 freeway

SEE MORE

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: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750kPrice in $149k785k

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

Neighborhood: Alta Loma

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2120014001600180020002200240026002800Rent in $10822925

* 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
Alta Loma Junior High School Middle Regular 658 24 7
Alta Loma High School High Regular 2,648 100 8

Alta Loma Junior High School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 24
7
GreatSchools Rating

Alta Loma High School

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

$764,820$934,780$849,800

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$2,952
Property Tax -$786
Property Insurance -$87
Property Management Fees -$183
CASH FLOW
-$897

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.

$849,800

PROJECTED PRICE

$3,110

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 5.5%
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$15k

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$230,947

INVESTMENT

$230,947

Down Payment
$212,450
Rehab Estimate
$5,750
Closing Costs
$12,747

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,952

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $212,450
Loan Amount $637,350
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $3,079

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$3,1104$3,4005$3,700
$3,700
RENT COMPS ANALYSIS
  • 8344 Banyan Street Rancho Cucamonga, CA 3
    • 5 beds 2 baths ∙ 2,453 Sqft ∙ Built 1976 5 beds 2 baths ∙ 2,453 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $1.27
    •  
  • 6440 Opal Street Rancho Cucamonga, CA 1
    • 5 beds 2 baths ∙ 2,364 Sqft ∙ Built 1971 5 beds 2 baths ∙ 2,364 Sqft ∙ Built 1971
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.18
    •  
  • 9339 Ledig Drive Rancho Cucamonga, CA 2
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1995
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.22
    •  
  • 9328 Rancho Street Rancho Cucamonga, CA 4
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 1978
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.22
    •  
  • 6109 Vineyard Avenue Alta Loma, CA 5
    • 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,639 Sqft ∙ Built 1985
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.40
    •  
PROPERTY LISTING DETAILS
Patrick Wood
Help-u-sell Prestige Prop's
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21055309
Last Updated: 03/17/2021
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