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PROPERTY INFO
FACTS
- Single Family
- Built In 1985
- Price/Sqft : $295.55
- 6 Days on Market
- MLS # : CV20242096
- Updated Date : 11/18/2020 at 12:47
CONSTRUCTION
- Beds : 3
- Floor Size : 1,438 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Vision
Listing Agent's Description
Super Cute Starter Home located in the community of Mulberry Place. As you enter the HOME you will be greeted by an open floor plan with a good sized living room equipped with a fireplace perfect for the holiday season and cozy winter nights. Brand new laminate wood floor compliment almost the entire home downstairs and upstairs areas. The eating area is adjacent to the living room area with a complimentary chandelier. Sliding doors lead you to the rear yard area that is good sized and perfect for entertaining. The kitchen is good sized with plenty of cabinetry and tile counter tops and BIG window outlooking the rear yard area. Separate nook area perfect for the small bar or for the barista at heart. Half bath downstairs. The stairwell has laminate wood flooring. All bedrooms are located upstairs. The Master bedroom is good sized and is equipped with a separate balcony area perfect for enjoying your morning coffee and favorite book or just enjoying the evening nights. The master bath has a combo shower in tub, vanity, and walk in closet. The 2 remaining bedrooms are good sized with laminate wood flooring. Community features include a playground and association pool and spa. The home is close in proximity to Bear Gulch Elementary School and within Alta Loma High School District. The HOME is centrally located between the 10 and 210 freeways and very close to shopping and eateries. This HOME truly is the perfect starter or for a family looking to downsize.
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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: Southwest Rancho Cucamonga
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southwest Rancho Cucamonga
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,180 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$397 | |
| Property Insurance | -$62 | |
| HOA | -$300 | |
| Property Management Fees | -$129 | |
|
CASH FLOW
-$276
|
||
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.
$425,000
PROJECTED PRICE
$2,180
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
2.25
YEARS SAVED
$7,752
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,180
LIST RENT -
$1.52
LIST RENT PER SQFT
-
$2,218
COMP ESTIMATED VALUE -
$1.54
COMP AVG. RENT PER SQFT
Comps Range
-
8471 Autumnhill Place Rancho Cucamonga, CA 1
- 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,438 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $2,180
- $1.52
-
1908 E Highland Court Ontario, CA 2
- 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
LEASED 07/03/20- Rent
- Rent Per SQFT
- $2,200
- $1.61
-
8202 Montara Avenue Rancho Cucamonga, CA 3
- 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1978
LEASED 07/02/20- Rent
- Rent Per SQFT
- $2,300
- $1.61
-
8715 Grand Oaks Court Rancho Cucamonga, CA 4
- 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,637 Sqft ∙ Built 2003
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,380
- $1.45
-
9017 Chianti Court Rancho Cucamonga, CA 5
- 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1977
LEASED 04/23/20- Rent
- Rent Per SQFT
- $2,400
- $1.50
PROPERTY LISTING DETAILS
Re/max Vision
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20242096
Last Updated: 11/18/2020
