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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $284.02
- 3 Days on Market
- MLS # : OC21034611
- Updated Date : 02/20/2021 at 11:15
CONSTRUCTION
- Beds : 5
- Floor Size : 2,528 sqft
- Baths : 3 full
Listing Agent
Redpoint Realty
Listing Agent's Description
Great single story ranch home situated on 17,969sf lot in one of the most prestigious neighborhoods in Ontario. One front unit, 1,688sf with 3 bedrooms and 2 baths, family room and living room with wooden floor and tile throughout. Natural light and a wonderful mountain view bring the entire house joyful and healthy energy. Solar panel saves your electric bill. One back detached unit approx 840sf with 2 bedrooms and 1bath situated separately for its own privacy. More than 10 different kinds of fruit trees and vegetables on over 17,000sf lot will provide a seasonal healthy diet. This spacious lot has many opportunities like upgrades, expansions even more ADU units. Buyers and agents will have to verify with the city. The seller and the listing agent are not responsible for the accuracy of information provided. Buyers do their own due diligence. Don't miss out on this great opportunity!!
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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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,680 |
| EXPENSES | Loan Payment | -$2,494 |
| Property Tax | -$666 | |
| Property Insurance | -$88 | |
| Property Management Fees | -$158 | |
|
CASH FLOW
-$726
|
||
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.
$718,000
PROJECTED PRICE
$2,680
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$196,020
LOAN DETAILS
$2,494
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $179,500 |
| Loan Amount | $538,500 |
0.67
YEARS SAVED
$2,134
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,680
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$2,924
COMP ESTIMATED VALUE -
$1.16
COMP AVG. RENT PER SQFT
Comps Range
-
1317 W Ralston Street Ontario, CA 3
- 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,528 Sqft ∙ Built 1977
![property image]()
- Rent
- Rent Per SQFT
- $2,680
- $1.06
-
4638 Kingsley Street Montclair, CA 1
- 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 1997
![property image]()
LEASED 11/01/20- Rent
- Rent Per SQFT
- $2,500
- $1.14
-
1461 W Philadelphia Street Ontario, CA 2
- 4 beds 4 baths ∙ 2,388 Sqft ∙ Built 1964 4 beds 4 baths ∙ 2,388 Sqft ∙ Built 1964
![property image]()
LEASED 01/02/21- Rent
- Rent Per SQFT
- $2,600
- $1.09
-
5561 Cambridge Street Montclair, CA 4
- 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1962 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 1962
![property image]()
LEASED 10/30/20- Rent
- Rent Per SQFT
- $2,800
- $1.24
PROPERTY LISTING DETAILS
Redpoint Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: OC21034611
Last Updated: 02/20/2021
