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1139 N Cucamonga Avenue Ontario, CA 91764

3 Beds 1 Baths 942 sqft Built 1955

$485,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $514.86
  • 3 Days on Market
  • MLS # : WS21000137
  • Updated Date : 01/01/2021 at 14:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 942 sqft
  • Baths : 1 full
Listing Agent

Garry Jer & Associates Inc.

Listing Agent's Description

Opportunity knocks. Remodeled home, great outdoor space, huge back yard. Room for swimming pool, basketball hoop, BBQ, RV parking...etc. New windows (dual pane and low E), New kitchen counter top/cabinets, sink, faucet, & garbage disposal. New stove/oven, and dishwasher. New Interior/Exterior paint. New laminated flooring, bedroom closets doors. Comfortable 3 bedrooms, 1 bath, 2 car garage home is waiting for you. Ceiling fan in every bedroom. For expanded family, City of Ontario allows for ADU and junior ADU. Space for your boat, RV, camper, and sports equipment. This is what you are searching for! Picnic under the tree in front, and tea time in the back under the covered porch. Land of opportunities! Close to John Galvin Park, Jay Littleton Ball Park, elementary school, dinning...etc. One of a rare home with lot size over 12,000 SF, flat, usable, and regular shaped. Call immediately for your private viewing schedule. Virtual tour: https://vt.plushglobalmedia.com/tour/TT17GMM72W

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Berlyn Elementary School Primary Regular 759 31 3
Berlyn Elementary School Middle Regular 759 31 3
Chaffey High School High Regular 3,530 138 4

Berlyn Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Berlyn Elementary School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,789
Property Tax -$446
Property Insurance -$50
Property Management Fees -$109
CASH FLOW
-$545

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.

$485,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.38%

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-$10k-$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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.96

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,100
$2,100
RENT COMPS ANALYSIS
  • 1139 N Cucamonga Avenue Ontario, CA 1
    • 3 beds 1 baths ∙ 942 Sqft ∙ Built 1955 3 beds 1 baths ∙ 942 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.96
    •  
  • 1321 N Vineyard Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.69
    •  
  • 244 S 3rd Avenue Upland, CA 3
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
PROPERTY LISTING DETAILS
Anita Jer
Garry Jer & Associates Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: WS21000137
Last Updated: 01/01/2021
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