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1218 S Cypress Avenue #A Ontario, CA 91762

3 Beds 3 Baths 1,512 sqft Built 1981

$349,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $231.48
  • 7 Days on Market
  • MLS # : DW21015950
  • Updated Date : 01/30/2021 at 18:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

4u Realty

Listing Agent's Description

This One of Kind Corner Unit offers lots of privacy, featuring High ceilings, partially remodeled less than 1 year ago with new paint, partially replaced floorings, toilets, sinks/vanities, Quartz counter tops in the bathrooms, 3 spacious bedrooms, fireplace in the Livingroom, Double panel windows, Central A/C and Heating, Inside Laundry area, 2 car garage detached, gated access to private community and a beautiful private yard on the back of the unit perfect for entertaining. HOA amenities: Tennis Court, Pool and Playground.

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
Oaks Middle School Middle Regular 868 35 5
Ontario High School High Regular 2,549 102 6

Oaks Middle School

  • Education Level: Middle
  • # of students: 868
  • # of teachers: 35
5
GreatSchools Rating

Ontario High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 102
6
GreatSchools Rating
 

$314,999$384,999$349,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,216
Property Tax -$322
Property Insurance -$64
HOA -$390
Property Management Fees -$136
CASH FLOW
$173

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.

$349,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,265

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,510

    COMP ESTIMATED VALUE
  • $1.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3003$2,5004$2,6005$2,695
$2,695
RENT COMPS ANALYSIS
  • 1218 S Cypress Avenue Ontario, CA 2
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.52
    •  
  • 1112 S Cypress Avenue Ontario, CA 1
    • 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,292 Sqft ∙ Built 1984
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.63
    •  
  • 1732 Redwood Avenue Ontario, CA 3
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1975
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.61
    •  
  • 1615 S Granite Avenue Ontario, CA 4
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.67
    •  
  • 919 W Locust Street Ontario, CA 5
    • 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,554 Sqft ∙ Built 1973
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.73
    •  
PROPERTY LISTING DETAILS
Maria Menjivar
4u Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21015950
Last Updated: 01/30/2021
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