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1322 N Allyn Avenue Ontario, CA 91764

3 Beds 2 Baths 1,234 sqft Built 1953

$513,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $415.72
  • 7 Days on Market
  • MLS # : CV21030500
  • Updated Date : 02/27/2021 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,234 sqft
  • Baths : 2 full
Listing Agent

Michael Mc Casland, Realtor

Listing Agent's Description

TURNKEY...3.Bedrooms 2 Baths.....NEW KITCHEN with NEW CABINETS, APPLIANCES, QUARTZ CONTERTOPS ETC....Updated Baths with Tile showers tubs, vanities and plumbing fixtures........ MEW CENTRAL HEAT AND AIR CONDITIONING....NEW DIMENSIONAL ROOF....NEW WATER HEATER.....NEW LAMINATE AND TILED FLOORING throughout....NEW BASEBOARDS, LIGHT FIXTURES , Paint IN and OUT, RECESSED LIGHTS IN EVERY ROOM....HOME HAS FAMILY ROOM approx 18x21 with slider to outside.......Large enclosed backyard with partially new fencing.....Extra RV Parking with cement driveway...AUTO sprinklers...NEWER upgraded windows....NEW Garage Door and opener....NEW Upgraded Electrical Panel....MBR has own 3/4 Bath with shower.....MBR has own Slider to outside Backyard.......SEE BROKER INFORMATION ON PEAD DISCLOSURE AND SHOWING INSTRUCTIONS....Assessor only shows 1 bath but is 2.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
Vina Danks Middle School Middle Magnet 777 39 3
Chaffey High School High Regular 3,530 138 4

Vina Danks Middle School

  • Education Level: Middle
  • # of students: 777
  • # of teachers: 39
3
GreatSchools Rating

Chaffey High School

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

$461,700$564,300$513,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,782
Property Tax -$472
Property Insurance -$57
Property Management Fees -$113
CASH FLOW
-$514

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.

$513,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.37%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$141,695

INVESTMENT

$141,695

Down Payment
$128,250
Rehab Estimate
$5,750
Closing Costs
$7,695

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,250
Loan Amount $384,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,586

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $2,032

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$2,1953$2,3504$2,600
$2,600
RENT COMPS ANALYSIS
  • 1322 N Allyn Avenue Ontario, CA 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 1953
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.55
    •  
  • 1015 N Placer Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1963
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.67
    •  
  • 537 W J Street Ontario, CA 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 739 W Granada Court Ontario, CA 4
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1952
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.66
    •  
PROPERTY LISTING DETAILS
Michael Mccasland
Michael Mc Casland, Realtor
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21030500
Last Updated: 02/27/2021
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