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8778 Kings Canyon Street Chino, CA 91708

4 Beds 3 Baths 2,848 sqft Built 2007

$645,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $226.47
  • 5 Days on Market
  • MLS # : OC21023240
  • Updated Date : 02/05/2021 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,848 sqft
  • Baths : 3 full
Listing Agent

Faith Global Realty Group Inc

Listing Agent's Description

Absolutely Gorgeous Castle-look Single Family House in Preserve Community! This 4-bedroom 3-bathroom is the most desirable floor plan. New paint & New flooring upstairs! Entering the home, you'll find a nice entry with the marble floor. The main floor features a formal dining room, a big living room with a fireplace, a breakfast area, an open chef’s kitchen with an island, granite countertops, plenty of cabinetry storage & stainless steel appliances. The Main Floor also features an extra-large bedroom with a sitting area, as well as a private 3/4 bath. The 2nd floor boasts of 3 bedrooms, plus a wonderful bonus room ideal for an office or to be converted into a 5th bedroom. The master suite includes spacious walk-in closets, a separate tub and shower, separate vanities, and a private toilet. The community features a Clubhouse, 24 hours fitness center, tennis courts, basketball court, parks, pool/spa, business center, and an outdoor entertainment area with a fireplace. Elementary school is just within the community! Walking distance to California Distinguished School, Cal Aero Preserve (K-8). Close to restaurants & parks, in addition to easy access to the 71 Freeway. This beautiful home won’t last and is sure to please!

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
Chino Hills High School High Regular 3,012 111 8
Chino Hills High School High Unknown NA

Chino Hills High School

  • Education Level: High
  • # of students: 3,012
  • # of teachers: 111
8
GreatSchools Rating

Chino Hills High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$580,500$709,500$645,000

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 -$2,240
Property Tax -$621
Property Insurance -$96
HOA -$57
Property Management Fees -$157
CASH FLOW
-$512

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.

$645,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,675

INVESTMENT

$176,675

Down Payment
$161,250
Rehab Estimate
$5,750
Closing Costs
$9,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,240

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,250
Loan Amount $483,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,414

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
  • $0.93

    LIST RENT PER SQFT
  • $2,898

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,660
1$2,6602$2,8003$2,8504$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 8778 Kings Canyon Street Chino, CA 1
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.93
    •  
  • 15774 Sweet Bay Avenue Chino, CA 2
    • 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2018
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 15825 Mineral King Avenue Chino, CA 3
    • 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 2018
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
  • 15748 Mineral King Avenue Chino, CA 4
    • 5 beds 4 baths ∙ 2,787 Sqft ∙ Built 2007 5 beds 4 baths ∙ 2,787 Sqft ∙ Built 2007
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
  • 8807 Kings Canyon Street Chino, CA 5
    • 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,805 Sqft ∙ Built 2018
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.03
    •  
PROPERTY LISTING DETAILS
Tiffany Li
Faith Global Realty Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: OC21023240
Last Updated: 02/05/2021
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