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121 W Blue Jay Way Ontario, CA 91762

3 Beds 2 Baths 1,540 sqft Built 1978

$550,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $357.14
  • 3 Days on Market
  • MLS # : TR21046564
  • Updated Date : 03/06/2021 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Top Team

Listing Agent's Description

Welcome to 121 W Blue Jay Way, This Rare, Hard to find single-story Pool home has been lovingly maintained. Upon entry to this single story home, there is a separate living room, with large corner picture windows, perfect to take in the mountain views. You'll also see a cozy fireplace for those cold mornings and evenings. Featuring, 3 bedrooms, 2 bathrooms. The master bedroom is complete, with large, wall to wall mirror closets doors and newly updated master bathroom. Two additional nice sized bedrooms, share a full bath The kitchen flows into the dining room and looks into the family room giving it that open concept. The kitchen also includes a spacious, eating bar. The family room offers high ceilings with a skylight, showing off that natural lighting all year round. Off the family room, there are glass patio doors that looks into a refreshing pool. In addition to the fabulous pool and jacuzzi, the seller has updated the pool equipment. You'll truly enjoy staying cool during hot days while enjoying your low maintenance backyard. There is a Separate laundry space, in the 2 car attached garage (direct access). This home is perfect for indoor and outdoor entertaining!

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: 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
Magnolia Junior High School Middle Regular 684 30 3
Chino High School High Regular 2,369 99 5

Magnolia Junior High School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 30
3
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,910
Property Tax -$509
Property Insurance -$64
Property Management Fees -$143
CASH FLOW
-$207

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.

$550,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.44%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $2,583

    COMP ESTIMATED VALUE
  • $1.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,420
1$2,4202$2,4503$2,5004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 121 W Blue Jay Way Ontario, CA 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.57
    •  
  • 12662 Verdugo Avenue Chino, CA 2
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 1972
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.60
    •  
  • 2603 S Fern Avenue Ontario, CA 3
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1978
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.75
    •  
  • 6751 Burke Court Chino, CA 4
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1984
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.67
    •  
  • 12978 Arlington Lane Chino, CA 5
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1986
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.69
    •  
PROPERTY LISTING DETAILS
Linda Porraz
Coldwell Banker Top Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR21046564
Last Updated: 03/06/2021
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