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1162 S Althea Avenue Rialto, CA 92376

4 Beds 2 Baths 1,595 sqft Built 1980

$458,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $287.71
  • 2 Days on Market
  • MLS # : CV21046288
  • Updated Date : 03/06/2021 at 20:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,595 sqft
  • Baths : 2 full
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Welcome to this 4 bedroom, Rialto pool home with a Master bathroom. The home features an updated kitchen with quartz countertops. The home features fully updated bathrooms. There is ample storage and parking space with the homes 2 car attached garage. The backyard is perfect for entertaining with a Sparkling pool and a pergola covering. The gray walls perfectly compliment the white trim.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Simpson Elementary School Primary Regular 747 26 6
Rialto Middle School Middle Regular 1,252 56 2
Rialto High School High Regular 2,881 121 5

Simpson Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 26
6
GreatSchools Rating

Rialto Middle School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 56
2
GreatSchools Rating

Rialto High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 121
5
GreatSchools Rating
 

$413,010$504,790$458,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,594
Property Tax -$535
Property Insurance -$66
Property Management Fees -$113
CASH FLOW
-$397

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.

$458,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,359

INVESTMENT

$127,359

Down Payment
$114,725
Rehab Estimate
$5,750
Closing Costs
$6,884

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,725
Loan Amount $344,175
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,877

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9103$1,9504$2,000
$2,000
RENT COMPS ANALYSIS
  • 1162 S Althea Avenue Rialto, CA 2
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.20
    •  
  • 1838 Golden Spike Drive Colton, CA 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1989
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
  • 915 S Idyllwild Avenue Bloomington, CA 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 446 E James Street Rialto, CA 4
    • 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990 4 beds 3 baths ∙ 1,703 Sqft ∙ Built 1990
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.17
    •  
PROPERTY LISTING DETAILS
Andrew Mendez
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21046288
Last Updated: 03/06/2021
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