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1101 N Iris Avenue Rialto, CA 92376

5 Beds 3 Baths 2,123 sqft Built 2010

$469,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $221.34
  • 5 Days on Market
  • MLS # : IV21056325
  • Updated Date : 03/20/2021 at 05:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,123 sqft
  • Baths : 3 full
Listing Agent

Alicia Vidaurrazaga, Broker

Listing Agent's Description

Beautiful D.R. Horton home located in the prestigious gated community of Elm Park. This home boast 5 bedrooms 4 upstairs and 1 downstairs with its own bathroom. Large master bedroom with walk in closet. Roomy master bath, shower and double vanity. Beautiful large kitchen with lot of cabinet space. Roomy enough for good sized dining table. Granite counter tops and large walk-in pantry. Spacious family room with fireplace. Downstairs has wood flooring throughout with custom baseboard. Nice size landscaped backyard,2 Car garage, very nice community with pool, bbqs,kids playground and more.

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Dunn Elementary School Primary Regular 656 25 2
Kucera Middle School Middle Regular 1,218 45 2
Eisenhower High School High Regular 2,456 99 4

Dunn Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 25
2
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Eisenhower High School

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

$422,910$516,890$469,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,632
Property Tax -$508
Property Insurance -$79
HOA -$174
Property Management Fees -$136
CASH FLOW
-$229

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.

$469,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.49%

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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,312

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3003$2,300
$2,300
RENT COMPS ANALYSIS
  • 1101 N Iris Avenue Rialto, CA 3
    • 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
  • 1025 W Jackson Street Rialto, CA 1
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1991
    property image
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.08
    •  
  • 1103 N Yucca Avenue Rialto, CA 2
    • 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,123 Sqft ∙ Built 2010
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.08
    •  
PROPERTY LISTING DETAILS
Alicia Vidaurrazaga
Alicia Vidaurrazaga, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21056325
Last Updated: 03/20/2021
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