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8410 Forest Park Street Chino, CA 91708

3 Beds 3 Baths 1,852 sqft Built 2007

$478,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $258.10
  • 7 Days on Market
  • MLS # : CV21030492
  • Updated Date : 02/16/2021 at 14:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,852 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Associates Realty Group

Listing Agent's Description

Don’t miss this opportunity to make this fantastic home yours. Excellent open floor plan that features 4 bedrooms (public record shows 3 bedrooms), 2.5 bathrooms, an open office/den on the 1st floor, living room with fireplace, kitchen with a center island that opens to the dining area. The master suite has a separate tub and shower, dual sinks and walk-in closet. The laundry room is on second floor. Recessed lighting throughout the home with central air conditioning system and a soft water system. Also included with the residence is a two car garage and a private courtyard to take in some sun. This home is in a desirable location of the prestige Tetherwind Community in the "Preserve Master Community" with wonderful amenities of an upscale Parkhouse, swimming pool & spa, BBQs, playgrounds, gym, tennis courts, recreation area and walking/biking trails and much more. Please watch the YouTube video before requesting a showing. Showings will begin Thursday the 18th.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Chino Hills High School High Regular 3,012 111 8
Chino Hills High School High Unknown NA

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$430,200$525,800$478,000

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 -$1,660
Property Tax -$460
Property Insurance -$72
HOA -$134
Property Management Fees -$140
CASH FLOW
-$96

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.

$478,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.50%

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-$5.0k$0.0$5.0k$10k$15k

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$132,420

INVESTMENT

$132,420

Down Payment
$119,500
Rehab Estimate
$5,750
Closing Costs
$7,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,500
Loan Amount $358,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$20,886

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
  • $1.28

    LIST RENT PER SQFT
  • $2,366

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3704$2,3905$2,500
$2,500
RENT COMPS ANALYSIS
  • 8410 Forest Park Street Chino, CA 3
    • 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,852 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.28
    •  
  • 8356 Edgewood Street Chino, CA 1
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2007
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 8398 Edgewood Street San Bernardino, CA 2
    • 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 8353 Edgewood Street Chino, CA 4
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.28
    •  
  • 8328 Edgewood Street Chino, CA 5
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.34
    •  
PROPERTY LISTING DETAILS
Sandra Qatami
The Associates Realty Group
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030492
Last Updated: 02/16/2021
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