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1159 W E Street Ontario, CA 91762

3 Beds 1 Baths 1,170 sqft Built 1954

$484,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
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

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
Elderberry Elementary School Primary Regular 837 30 6
Elderberry Elementary School Middle Regular 837 30 6
Montclair High School High Regular 3,034 117 6

Elderberry Elementary School

  • Education Level: Primary
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Elderberry Elementary School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 30
6
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$436,410$533,390$484,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

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

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$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

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 $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

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
$1,890
1$1,8902$1,9203$2,3004$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 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
Fabricio Badiola
Elite Premier Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21000217
Last Updated: 01/01/2021
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