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8648 Creekside Place Rancho Cucamonga, CA 91730

3 Beds 2 Baths 1,160 sqft Built 1986

INVESTimate

$439,000

List Price

$2,030

$1,827 - $2,233

Rent Est.

$472,452  ( +7.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $378.45
  • 7 Days on Market
  • MLS # : IG20170538
  • Updated Date : 08/20/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,160 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

8648 Creekside Place is a three bedroom 2 bath home located behind the gates of the beautiful Cross Creek Village community. This cozy 1,160 square foot home features a great open floor plan and feels bigger than it is. The living room has custom plantation shutters and a classic brick fireplace. The kitchen has upgraded cabinets with pull out drawers, stainless steel appliances, granite countertops and a stand alone pantry. Most of the property features handsome laminate wood flooring. All bedrooms are spacious and have ceiling fans. The bathrooms feature upgraded vanities and one features a safe tub. The home features a sunroom in the backyard that is not included in the square footage. Both the front and back yards are well manicured and feature mature landscaping and trees. The home is surrounded by wrap around Spanish porch coverings. Located in an excellent part of Rancho Cucamonga. Come see it today before it’s gone!

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: Southwest Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $143k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Southwest Rancho Cucamonga

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10702522

* 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
Cucamonga Elementary School Primary Regular 541 23 3
Rancho Cucamonga Middle School Middle Regular 768 37 5
Chaffey High School High Regular 3,530 138 4

Cucamonga Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 23
3
GreatSchools Rating

Rancho Cucamonga Middle School

  • Education Level: Middle
  • # of students: 768
  • # of teachers: 37
5
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$1,827$2,233$2,030

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 $2,030
EXPENSES Loan Payment -$1,620
Property Tax -$402
Property Insurance -$55
HOA -$140
Property Management Fees -$120
CASH FLOW
-$307

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.

$439,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.62%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $1.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0304$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 8648 Creekside Place Rancho Cucamonga, 3
    • 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.75
    •  
  • 9840 Feron Boulevard Rancho Cucamonga, 1
    • 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,288 Sqft ∙ Built 1971
    property image
    LEASED 04/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.55
    •  
  • 8412 Western Trail Place Rancho Cucamonga, 2
    • 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1986
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.49
    •  
  • 9310 Friant Street Rancho Cucamonga, 4
    • 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1977
    property image
    LEASED 05/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.63
    •  
  • 8463 Sunset Trail Place Rancho Cucamonga, 5
    • 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,339 Sqft ∙ Built 1987
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.64
    •  
PROPERTY LISTING DETAILS
Charles Chacon
Keller Williams Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20170538
Last Updated: 08/20/2020
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