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1170 W Mesa Drive Rialto, CA 92376

3 Beds 2 Baths 1,496 sqft Built 1985

$499,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $333.56
  • 4 Days on Market
  • MLS # : CV21034251
  • Updated Date : 02/18/2021 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 2 full
Listing Agent

Re/max Time Realty

Listing Agent's Description

Beautiful, turnkey home in a great location. This Rialto home is move in ready in prime location. Step into the beautiful bright and airy home that has new flooring throughout. Then walk into the kitchen with new counters, cabinets, recessed lighting, stove and beautiful range hood. The kitchen opens up to the living room, great for entertaining. Bedrooms are spacious with plenty of closet space, the bathrooms are bright and have new vanities and flooring. This functional layout is perfect for all families, with spacious front and back yard, 2-car garage and a driveway. The home is located in a convenient location with new shopping centers and new dining. Home is also near 210 freeway, schools and parks.

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
Dollahan Elementary School Primary Regular 665 23 5
Kucera Middle School Middle Regular 1,218 45 2
Carter High School High Regular 2,412 98 6

Dollahan Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 23
5
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,733
Property Tax -$582
Property Insurance -$63
Property Management Fees -$123
CASH FLOW
-$421

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.

$499,000

PROJECTED PRICE

$2,080

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,8753$2,0004$2,0805$2,100
$2,100
RENT COMPS ANALYSIS
  • 1170 W Mesa Drive Rialto, CA 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.39
    •  
  • 432 W Jackson Street Rialto, CA 1
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
  • 1148 W Cornell Street Rialto, CA 2
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
  • 17785 Mesa Road Fontana, CA 3
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 1523 W Shamrock Street Rialto, CA 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
PROPERTY LISTING DETAILS
Kevin Watson
Re/max Time Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21034251
Last Updated: 02/18/2021
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