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125 E J Street Ontario, CA 91764

3 Beds 1 Baths 1,680 sqft Built 1925

$539,800

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1925
  • Price/Sqft : $321.31
  • 3 Days on Market
  • MLS # : IV20255061
  • Updated Date : 12/11/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,680 sqft
  • Baths : 1 full
Listing Agent

Berkshire Hathaway Homeservices California Realty

Listing Agent's Description

Absolutely lovely Tutor Revival in the Rosewood Court Historic District, known as the Andrew J. Signorio House, with excellent curb appeal and a welcoming front porch. You’ll quickly realize that the home retains much of its original historic charm when you walk up to the uniquely arched front door, with one-way mirrored peep door, and convenient mail delivery slot directly into the house. Upon entering the spacious living room, you immediately notice the beautiful floor-to-ceiling wood-burning fireplace, freshly painted interior, high ceilings, original wood floors, large windows, and loads of natural light. The large adjacent dining room with two walk-out doors to the attached front porch offers plenty of space for entertaining. The kitchen with eat-in breakfast nook was recently updated with gorgeous quartz countertops, a subway tile backsplash, and new slide-in range. In the back of the house, there are 3 big bedrooms, 1 partially updated bathroom with retro appeal, an indoor laundry room, and a basement and detached 2-car garage with large attic both offer lots of extra storage space. The private backyard is perfect for relaxing and hosting friends and family with concrete patio, grass area with sprinklers, and mature fruit trees. This home is also eligible to apply for property tax breaks under "The Mills Act". Make this amazing home a must see today.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rosewood Court

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $143k519k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Rosewood Court

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9982126

* 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
Edison Elementary School Primary Regular 861 30 8
Edison Elementary School Middle Regular 861 30 8
Chaffey High School High Regular 3,530 138 4

Edison Elementary School

  • Education Level: Primary
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Edison Elementary School

  • Education Level: Middle
  • # of students: 861
  • # of teachers: 30
8
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$485,820$593,780$539,800

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,992
Property Tax -$497
Property Insurance -$68
Property Management Fees -$146
CASH FLOW
-$232

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.

$539,800

PROJECTED PRICE

$2,470

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.43%
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$148,797

INVESTMENT

$148,797

Down Payment
$134,950
Rehab Estimate
$5,750
Closing Costs
$8,097

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,950
Loan Amount $404,850
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$21,216

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,873

    COMP ESTIMATED VALUE
  • $1.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4703$3,395
$3,395
RENT COMPS ANALYSIS
  • 125 E J Street Ontario, CA 2
    • 3 beds 1 baths ∙ 1,680 Sqft ∙ Built 1925 3 beds 1 baths ∙ 1,680 Sqft ∙ Built 1925
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.47
    •  
  • 797 Olive Street E Upland, CA 1
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 836 W I Street Ontario, CA 3
    • 3 beds 1 baths ∙ 1,717 Sqft ∙ Built 1929 3 beds 1 baths ∙ 1,717 Sqft ∙ Built 1929
    property image
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.98
    •  
PROPERTY LISTING DETAILS
Scott Gold
Berkshire Hathaway Homeservices California Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20255061
Last Updated: 12/11/2020
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