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8512 Forest Park Street Chino, CA 91708

3 Beds 4 Baths 2,552 sqft Built 2007

$564,500

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $221.20
  • 5 Days on Market
  • MLS # : PW20229580
  • Updated Date : 11/01/2020 at 15:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,552 sqft
  • Baths : 3 full , 1 half
Listing Agent

Era North Orange County

Listing Agent's Description

Welcome Home to "The Preserve Community". You will enjoy this well-maintained Community, Pools, Parks, Dog Park, Gym, Cal Areo Academy Elementary School, Library and more! You will love this meticulously maintained 3 Bedrooms 3.5 Bathrooms + a Private Loft w/full bathroom on 3rd level. Water Softener & Solar is included, and is paid in full.

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: 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
 

$508,050$620,950$564,500

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,083
Property Tax -$544
Property Insurance -$89
HOA -$200
Property Management Fees -$157
CASH FLOW
-$412

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.

$564,500

PROJECTED PRICE

$2,660

PROJECTED RENT

0.47%

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-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,343

INVESTMENT

$155,343

Down Payment
$141,125
Rehab Estimate
$5,750
Closing Costs
$8,468

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,083

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,125
Loan Amount $423,375
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$9,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,788

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,7003$2,8004$2,8005$2,825
$2,825
RENT COMPS ANALYSIS
  • 8512 Forest Park Street Chino, CA 1
    • 3 beds 4 baths ∙ 2,552 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,552 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $1.04
    •  
  • 8786 Festival Street Chino, CA 2
    • 4 beds 4 baths ∙ 2,458 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,458 Sqft ∙ Built 2018
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.10
    •  
  • 7827 Wild Rye Street Chino, CA 3
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2017
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
  • 7939 Beacon Street Chino, CA 4
    • 4 beds 4 baths ∙ 2,589 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,589 Sqft ∙ Built 2005
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.08
    •  
  • 15790 Sweet Bay Avenue Chino, CA 5
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2018
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jeannine Ward
Era North Orange County
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20229580
Last Updated: 11/01/2020
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