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8771 Festival Street Chino, CA 91708

4 Beds 4 Baths 1,961 sqft Built 2018

INVESTimate

$524,999

List Price

$2,600

$2,350 - $2,850

Rent Est.

$560,331  ( +6.73%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2018
  • Price/Sqft : $267.72
  • 16 Days on Market
  • MLS # : IG20162879
  • Updated Date : 08/24/2020 at 16:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,961 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Come and view this beautiful two storty home that features 4 bedroom, 3.5 bathroom in Chino Preserve Harvest community ready to move in. Downstairs has one bedroom one bathroom suite. The upstairs master bedroom has a master bath with shower and tub. In a Gated community with a private pool and gym. close to freeways

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
 

$472,499$577,499$524,999

PURCHASE PRICE

$2,340$2,860$2,600

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,937
Property Tax -$506
Property Insurance -$75
HOA -$57
Property Management Fees -$153
CASH FLOW
-$128

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.

$524,999

PROJECTED PRICE

$2,600

PROJECTED RENT

0.50%

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,749
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$28,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,540

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3903$2,4504$2,4605$2,600
$2,600
RENT COMPS ANALYSIS
  • 8771 Festival Street Chino, 5
    • 4 beds 4 baths ∙ 1,961 Sqft ∙ Built 2018 4 beds 4 baths ∙ 1,961 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.33
    •  
  • 8398 Edgewood Street San Bernardino, 1
    • 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,881 Sqft ∙ Built 2007
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.25
    •  
  • 8353 Edgewood Street Chino, 2
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 2006
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.28
    •  
  • 8672 Founders Grove Street Chino, 3
    • 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,883 Sqft ∙ Built 2017
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.30
    •  
  • 16138 Huckleberry Ave Chino, 4
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2018
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $1.35
    •  
PROPERTY LISTING DETAILS
Carla Dietz-ledford
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20162879
Last Updated: 08/24/2020
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