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8359 Pumalo Street Rancho Cucamonga, CA 91701

3 Beds 2 Baths 1,441 sqft Built 1972

$709,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $492.64
  • 6 Days on Market
  • MLS # : CV21037223
  • Updated Date : 02/23/2021 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,441 sqft
  • Baths : 2 full
Listing Agent

Gushue Real Estate

Listing Agent's Description

Charming Alta Loma single story on expansive lot boasts pride of ownership and stunning mountain views. New exterior paint and recently redesigned, drought tolerate landscape create the desired curb appeal. New double doors lead to gracious living room featuring lots of natural light, modern tile flooring, traditional fireplace w/gas logs and adjacent sitting room - perfect for a home office (CAT6 wiring in all rooms). The floor plan creates a seamless space for entertaining and everyday living. The kitchen is the cornerstone of the home, upgraded to perfection with quartz counters, custom cabinetry featuring soft close hinges & interior cabinet lighting, subway tile backsplash, slide-in stainless range w/hood vent, center island, coffee bar & large dining area. The kitchen opens to the covered patio, overlooking the entire backyard from a slightly elevated vantage point. The master bedroom is privately situated with a walk in closet + en suite bathroom offering upgraded vanity & walk in shower. 2 additional bedrooms share a remodeled hall bathroom, one with a walk in closet. The garage has ample workspace for laundry and custom built-in cabinetry. Venture out back to find a private setting full of tranquility & potential. Start with the existing patio & imagine your dream backyard - plenty of space for a pool/spa, horse stalls, raised garden beds, lawn area and/or an ADU. Award-winning school district & great local shopping & dining at the Colonies. Buyer to verify info.

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: 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
 

$638,910$780,890$709,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,466
Property Tax -$661
Property Insurance -$62
Property Management Fees -$140
CASH FLOW
-$959

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.

$709,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.33%

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

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$193,874

INVESTMENT

$193,874

Down Payment
$177,475
Rehab Estimate
$5,750
Closing Costs
$10,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,466

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $177,475
Loan Amount $532,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$142

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.64

    LIST RENT PER SQFT
  • $2,403

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3253$2,3704$2,4005$2,700
$2,700
RENT COMPS ANALYSIS
  • 8359 Pumalo Street Rancho Cucamonga, CA 3
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.64
    •  
  • 8934 Sage Court Rancho Cucamonga, CA 1
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1986
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.60
    •  
  • 8530 Monte Vista Street Rancho Cucamonga, CA 2
    • 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,362 Sqft ∙ Built 1962
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.71
    •  
  • 8953 Avalon Street Rancho Cucamonga, CA 4
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1985
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.67
    •  
  • 8806 Holly Street Rancho Cucamonga, CA 5
    • 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,599 Sqft ∙ Built 1970
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.69
    •  
PROPERTY LISTING DETAILS
Daniel Gushue
Gushue Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21037223
Last Updated: 02/23/2021
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