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1109 W Quince Street Ontario, CA 91762

4 Beds 2 Baths 1,603 sqft Built 1976

$449,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $280.10
  • 2 Days on Market
  • MLS # : CV21030646
  • Updated Date : 02/13/2021 at 15:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Real Estate Hound

Listing Agent's Description

This home has tremendous potential with some TLC this can be a beautiful home. This home features 4 bedrooms, corner lot, large Lot. Do not hesitate, this home will not last.

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: Ontario

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

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

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112126

* 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
Oaks Middle School Middle Regular 868 35 5
Ontario High School High Regular 2,549 102 6

Oaks Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 35
5
GreatSchools Rating

Ontario High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 102
6
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,560
Property Tax -$457
Property Insurance -$66
Property Management Fees -$142
CASH FLOW
$176

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.

$449,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$44,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.5

    LIST RENT PER SQFT
  • $2,573

    COMP ESTIMATED VALUE
  • $1.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,4003$2,4504$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 1109 W Quince Street Ontario, CA 2
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
  • 1112 S Cypress Avenue Ontario, CA 1
    • 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 1984
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.63
    •  
  • 11748 Vernon Avenue Chino, CA 3
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 1986
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.45
    •  
  • 1732 Redwood Avenue Ontario, CA 4
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1975
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.61
    •  
  • 919 W Locust Street Ontario, CA 5
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.73
    •  
PROPERTY LISTING DETAILS
Fernando Ayala
Real Estate Hound
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030646
Last Updated: 02/13/2021
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