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PROPERTY INFO
FACTS
- Single Family
- Built In 1954
- Price/Sqft : $414.44
- 3 Days on Market
- MLS # : CV21000217
- Updated Date : 01/01/2021 at 17:59
CONSTRUCTION
- Beds : 3
- Floor Size : 1,170 sqft
- Baths : 1 full
Listing Agent
Elite Premier Properties
Listing Agent's Description
This is the one of the cheapest 3 bedrooms houses in the entire city and it's Fully Remodeled. This 3 bed 1 bath house is on a quite street, perfect for kids to ride their bikes and play!! Perfect for building family memories AND it's been remodeled!! This house has it all. It has NEW Exterior Paint, central A/C and Heat, New front yard irrigation system, Newer windows, NEW interior texture, NEW interior paint, NEW upgraded carpet, NEW wood laminate, NEW remodeled kitchen with NEW cabinets, NEW granite counter tops, NEW back splash, NEW stainless steel stove, NEW microwave, NEW dishwasher, NEW remodeled bathrooms, NEW custom tiled showers, NEW vanity cabinets, NEW tile floors, NEW electrical and plumbing fixtures, NEW doors and moldings, NEW recessed lighting and much much more. But hurry, this one won't last long!! This house is not for rent or lease. Don't fall for scams from people pretending to be the owner
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,890 |
| EXPENSES | Loan Payment | -$1,789 |
| Property Tax | -$446 | |
| Property Insurance | -$56 | |
| Property Management Fees | -$112 | |
|
CASH FLOW
-$512
|
||
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.
$484,900
PROJECTED PRICE
$1,890
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$134,249
LOAN DETAILS
$1,789
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $121,225 |
| Loan Amount | $363,675 |
0.92
YEARS SAVED
$2,045
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$1.62
LIST RENT PER SQFT
-
$1,907
COMP ESTIMATED VALUE -
$1.63
COMP AVG. RENT PER SQFT
Comps Range
-
1159 W E Street Ontario, CA 1
- 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,170 Sqft ∙ Built 1954
![property image]()
- Rent
- Rent Per SQFT
- $1,890
- $1.62
-
839 W El Morado Court Ontario, CA 2
- 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
![property image]()
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,920
- $1.54
-
1513 W F Street Ontario, CA 3
- 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,438 Sqft ∙ Built 1955
![property image]()
LEASED 09/23/19- Rent
- Rent Per SQFT
- $2,300
- $1.60
-
537 W J Street Ontario, CA 4
- 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
![property image]()
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,350
- $1.61
-
726 W Granada Court Ontario, CA 5
- 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1949 3 beds 2 baths ∙ 1,351 Sqft ∙ Built 1949
![property image]()
LEASED 03/27/20- Rent
- Rent Per SQFT
- $2,395
- $1.77
PROPERTY LISTING DETAILS
Elite Premier Properties
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV21000217
Last Updated: 01/01/2021
