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1027 E Mesa Drive Rialto, CA 92376

3 Beds 2 Baths 1,557 sqft Built 1960

$407,300

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $261.59
  • 5 Days on Market
  • MLS # : IG20229802
  • Updated Date : 10/31/2020 at 07:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,557 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Beautiful 3 bedroom, 2 full bathroom, single story home on a large lot in the community of Rialto! Enjoy an open floor plan with lots of natural light, elegant laminate wood flooring, and an inviting white brick fireplace. The adjoining kitchen offers a breakfast bar, oak wood cabinetry, and white appliances. Additional property features include the spacious primary bedroom, expansive back yard, and the 2 car detached garage. Convenient to area markets, schools, and easy access to major freeways!

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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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Myers Elementary School Primary Regular 592 21 4
Frisbie Middle School Middle Regular 1,229 48 2
Eisenhower High School High Regular 2,456 99 4

Myers Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 21
4
GreatSchools Rating

Frisbie Middle School

  • Education Level: Middle
  • # of students: 1,229
  • # of teachers: 48
2
GreatSchools Rating

Eisenhower High School

  • Education Level: High
  • # of students: 2,456
  • # of teachers: 99
4
GreatSchools Rating
 

$366,570$448,030$407,300

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,503
Property Tax -$475
Property Insurance -$65
Property Management Fees -$109
CASH FLOW
-$311

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.

$407,300

PROJECTED PRICE

$1,840

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,685

INVESTMENT

$113,685

Down Payment
$101,825
Rehab Estimate
$5,750
Closing Costs
$6,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,503

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,825
Loan Amount $305,475
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,985

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8403$1,8954$2,0955$2,195
$2,195
RENT COMPS ANALYSIS
  • 1027 E Mesa Drive Rialto, CA 2
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.18
    •  
  • 176 E Home Street Rialto, CA 1
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 1959
    LEASED 05/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.28
    •  
  • 1579 N Clifford Avenue Rialto, CA 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.25
    •  
  • 423 E Mesa Drive Rialto, CA 4
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1958
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.26
    •  
  • 241 E Lurelane Street Rialto, CA 5
    • 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 1963
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.31
    •  
PROPERTY LISTING DETAILS
Justin Tye
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20229802
Last Updated: 10/31/2020
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