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114 Wedgewood Court Rialto, CA 92376

4 Beds 2 Baths 2,071 sqft Built 1959

$495,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $239.01
  • 8 Days on Market
  • MLS # : IV21047599
  • Updated Date : 03/12/2021 at 16:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,071 sqft
  • Baths : 2 full
Listing Agent

Denise Bartolini, Broker

Listing Agent's Description

Welcome HOME!! This beautifully upgraded ranch style home has 2071 square feet of space. It is in a very established neighborhood at the end of a very quiet cul-de-sac. It boasts three large bedrooms and a den that was converted to a fourth bedroom with a walk in closet and sliding doors out to the patio. The outside of the house was just freshly painted as was most of the interior. The kitchen has been remodeled with lovely granite counter tops and real cherry wood cabinets. Both bathrooms have been redone. The front bath has granite counters and a real oak vanity. The back bath is being rehabbed once again to include a tiled shower and fresh paint. This house also has all dual pane windows and a five ton air conditioner to keep you nice and cool in the summer! For the winter months it has a beautiful double sided fireplace to keep you cozy and warm!

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: 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
Henry Elementary School Primary Regular 462 18 4
Kolb Middle School Middle Regular 971 49 2
Eisenhower High School High Regular 2,456 99 4

Henry Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 18
4
GreatSchools Rating

Kolb Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 49
2
GreatSchools Rating

Eisenhower High School

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

$445,500$544,500$495,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,719
Property Tax -$577
Property Insurance -$77
Property Management Fees -$135
CASH FLOW
-$228

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.

$495,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.46%

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$15k

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$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,485

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2803$2,4504$2,495
$2,495
RENT COMPS ANALYSIS
  • 114 Wedgewood Court Rialto, CA 2
    • 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.10
    •  
  • 2148 N Palm Avenue Rialto, CA 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 630 E Jackson Street Rialto, CA 3
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1961
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.15
    •  
  • 6254 Palm Avenue Rialto, CA 4
    • 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 1963 4 beds 3 baths ∙ 1,821 Sqft ∙ Built 1963
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.37
    •  
PROPERTY LISTING DETAILS
Denise Bartolini
Denise Bartolini, Broker
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21047599
Last Updated: 03/12/2021
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