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8479 Timberland Lane Chino, CA 91708

3 Beds 2 Baths 2,022 sqft Built 2008

INVESTimate

$459,888

List Price

$2,400

$2,160 - $2,640

Rent Est.

$490,838  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $227.44
  • 8 Days on Market
  • MLS # : IV20168324
  • Updated Date : 08/21/2020 at 10:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 2 full
Listing Agent

Redfin

Listing Agent's Description

Gorgeous three-bedroom condominium home, situated in one of Chino’s most coveted communities. This home has an open and spacious floorplan with distressed wood flooring and an abundance of natural light, recessed lighting, surround sound, a Nest thermostat, a Schlage smart deadbolt in the front door, and a new high-efficiency central A/C. The kitchen is completely open to the dining area and family room and features handsome granite countertops, classic dark wood cabinetry, upgraded stainless steel appliances, and a new faucet. Enjoy the large balcony off of the living room with ceiling fan, power, and water - a perfect space for entertaining. The primary suite offers a private en-suite with granite counters, shower, a separate soaking tub, and large walk-in closet. The secondary bedrooms are both generously sized, offer ample closet space, and share the charming full-size hallway bathroom. There is a large in-unit laundry room with cabinetry. This home has an attached 2 car garage with extra storage. Residents of this fabulous community enjoy wonderful amenities including an upscale clubhouse, sparkling swimming pool & spa, BBQs, playgrounds, a recreation area, and biking/hiking trails. Located near schools, parks, shopping, dining, entertainment, freeways, and is in the heart of beautiful Chino!

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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
 

$413,899$505,877$459,888

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,697
Property Tax -$443
Property Insurance -$76
HOA -$383
Property Management Fees -$142
CASH FLOW
-$340

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.

$459,888

PROJECTED PRICE

$2,400

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 6.73%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,620

INVESTMENT

$127,620

Down Payment
$114,972
Rehab Estimate
$5,750
Closing Costs
$6,898

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,972
Loan Amount $344,916
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $2,563

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3904$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 8479 Timberland Lane Chino, 4
    • 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,022 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.19
    •  
  • 8356 Edgewood Street Chino, 1
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2007
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
  • 8398 Edgewood Street San Bernardino, 2
    • 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 8353 Edgewood Street Chino, 3
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.28
    •  
  • 8672 Founders Grove Street Chino, 5
    • 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2017
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.30
    •  
PROPERTY LISTING DETAILS
Coleen Hyams
Redfin
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20168324
Last Updated: 08/21/2020
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