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8551 Founders Grove Street Chino, CA 91708

3 Beds 3 Baths 1,995 sqft Built 2016

$519,900

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $260.60
  • 7 Days on Market
  • MLS # : CV20228079
  • Updated Date : 10/28/2020 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,995 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cal American Homes And Realty

Listing Agent's Description

This gorgeous home is in the prime location in the great community. With an included Solar system you will run the whole house on peanuts compared to a normal electric bill! With 3 bedrooms including a downstairs office that could be used as a 4th Bedroom and 2.5 baths and a great loft you will have room for everyone. This open concept floor plan give a large open family room that opens to a great kitchen area with Island with sink, plenty of counter space. Some of the other great features are plantation shutters, laminate wood floors throughout and as amazing patio and private yard in the back. The location within this great master plan community called The Preserve is perfect being just a stones throw from the Park House, Garden House and Cal Aero Academy. Don't wait on this one, it will go quick!

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
 

$467,910$571,890$519,900

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,918
Property Tax -$501
Property Insurance -$75
HOA -$210
Property Management Fees -$150
CASH FLOW
-$305

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.

$519,900

PROJECTED PRICE

$2,550

PROJECTED RENT

0.49%

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $2,554

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,3904$2,5505$2,800
$2,800
RENT COMPS ANALYSIS
  • 8551 Founders Grove Street Chino, CA 4
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $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
    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
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 8353 Edgewood Street Chino, CA 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
    •  
  • 8756 Festival Street Chino, CA 5
    • 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 2018
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.35
    •  
PROPERTY LISTING DETAILS
Aaron Juarez
Cal American Homes And Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20228079
Last Updated: 10/28/2020
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