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1383 W 2nd Street Rialto, CA 92376

4 Beds 2 Baths 1,377 sqft Built 1980

$410,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $297.75
  • 3 Days on Market
  • MLS # : EV20244172
  • Updated Date : 11/21/2020 at 09:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,377 sqft
  • Baths : 2 full
Listing Agent

Century 21 Lois Lauer Realty

Listing Agent's Description

Beautiful, entertainer's delight with updated pool centrally located between the 10 and 210 freeway. This move-in ready home has new windows, updated kitchen, fully remodeled bathrooms, new duct work, re-plastered pool, new energy saving pool pump, new garage door and stone on the exterior. Priced to sell so hurry and make your appointment because this beauty won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Werner Elementary School Primary Regular 914 33 4
Rialto Middle School Middle Regular 1,252 56 2
Carter High School High Regular 2,412 98 6

Werner Elementary School

  • Education Level: Primary
  • # of students: 914
  • # of teachers: 33
4
GreatSchools Rating

Rialto Middle School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 56
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,513
Property Tax -$443
Property Insurance -$61
Property Management Fees -$116
CASH FLOW
-$172

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.

$410,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,8753$1,9504$1,9605$2,000
$2,000
RENT COMPS ANALYSIS
  • 1383 W 2nd Street Rialto, CA 4
    • 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,377 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.42
    •  
  • 752 W. Mason Street Rialto, CA 1
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1980
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 1148 W Cornell Street Rialto, CA 2
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
  • 915 S Idyllwild Avenue Bloomington, CA 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1978
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
  • 17785 Mesa Road Fontana, CA 5
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
PROPERTY LISTING DETAILS
Nicole Bell
Century 21 Lois Lauer Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20244172
Last Updated: 11/21/2020
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