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6741 Mystic Canyon Drive 
Chino Hills, CA
91709
3 Beds 3 Baths 1,531 sqft
Built 1988
INVESTimate
$568,000
List Price
$156,270
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PROPERTY INFO
FACTS
- Built In 1988
- Price/Sqft : $371.00
- 9 Days on Market
- MLS # : WS20168905
- Updated Date : 08/18/2020 at 16:16
CONSTRUCTION
- Beds : 3
- Floor Size : 1,531 sqft
- Baths : 2 full , 1 half
Listing Agent
Meiguo Realty Grp
Listing Agent's Description
Spacious, bright and charming 3 Bedroom, 2.5 Bath home in desirable Chino Hills has wide plank laminate wood floors throughout. New interior and Exterior paint and window coverings downstairs 1/2 bathroom newly renovated. Lovely kitchen counters, hood over the stove, plenty of pantry space, and a garden window over the sink. breakfast nook has bay windows overlooking the front yard. Large living room has a cozy brick fireplace and cathedral ceilings. There is a good sized master suite. Bathrooms have nice lighting fixtures and hardware. Formal Dining room has a slider door that leads out to a great backyard landscaped with fruit trees with Move in ready!
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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 Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chino Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,310 |
| EXPENSES | Loan Payment | -$2,096 |
| Property Tax | -$549 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$136 | |
|
CASH FLOW
-$535
|
||
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.
$568,000
PROJECTED PRICE
$2,310
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.11% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$156,270
LOAN DETAILS
$2,096
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $142,000 |
| Loan Amount | $426,000 |
1.42
YEARS SAVED
$5,085
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,310
LIST RENT -
$1.51
LIST RENT PER SQFT
-
$2,308
COMP ESTIMATED VALUE -
$1.51
COMP AVG. RENT PER SQFT
Comps Range
-
6741 Mystic Canyon Drive Chino Hills, 4
- 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1988
- Rent
- Rent Per SQFT
- $2,310
- $1.51
-
17871 Shady View Drive Chino Hills, 1
- 3 beds 4 baths ∙ 1,506 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,506 Sqft ∙ Built 2007
LEASED 10/26/19- Rent
- Rent Per SQFT
- $2,200
- $1.46
-
6563 Coyote Street Chino Hills, 2
- 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
LEASED 06/11/20- Rent
- Rent Per SQFT
- $2,300
- $1.50
-
6714 Wrangler Road Chino Hills, 3
- 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
LEASED 10/18/19- Rent
- Rent Per SQFT
- $2,300
- $1.50
-
18051 Arroyo Lane Chino Hills, 5
- 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,531 Sqft ∙ Built 1989
LEASED 03/16/20- Rent
- Rent Per SQFT
- $2,400
- $1.57
PROPERTY LISTING DETAILS
Meiguo Realty Grp
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS20168905
Last Updated: 08/18/2020
