Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1388 W Wedgewood Street Rialto, CA 92376

3 Beds 2 Baths 1,465 sqft Built 1983

$425,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $290.10
  • 4 Days on Market
  • MLS # : TR20242924
  • Updated Date : 11/19/2020 at 21:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,465 sqft
  • Baths : 2 full
Listing Agent

Ehomes

Listing Agent's Description

Wonderful Pool Home offering 3 bedroom, 2 bathroom home located on a quiet street in Rialto close to schools and shopping. Nice floorplan with no wasted space with large living area, kitchen and dining. Bedrooms are good sized with the master featuring its own private bathroom with bathtub/shower. The living area has a corner stone fireplace and slider to access the backyard while the kitchen has ample storage and countertop space plus a breakfast bar for additional eating area. The back is completely private with large pool and concrete patio surround for low maintenance upkeep. There is also an enclosed area for your RV/Boat parking saving you thousands on storage space! Roof was also recently replaced!! Call your agent today for a private tour and prepare to send an offer! Call Now!!!

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
Dollahan Elementary School Primary Regular 665 23 5
Kucera Middle School Middle Regular 1,218 45 2
Carter High School High Regular 2,412 98 6

Dollahan Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 23
5
GreatSchools Rating

Kucera Middle School

  • Education Level: Middle
  • # of students: 1,218
  • # of teachers: 45
2
GreatSchools Rating

Carter High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,568
Property Tax -$496
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$225

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.

$425,000

PROJECTED PRICE

$2,020

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

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$11,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,0003$2,0004$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 1388 W Wedgewood Street Rialto, CA 4
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.38
    •  
  • 1148 W Cornell Street Rialto, CA 1
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
  • 17785 Mesa Road Fontana, CA 2
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 7360 Evergreen Avenue Fontana, CA 3
    • 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,688 Sqft ∙ Built 1981
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 1523 W Shamrock Street Rialto, CA 5
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1989
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.24
    •  
PROPERTY LISTING DETAILS
Elmer Morales
Ehomes
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20242924
Last Updated: 11/19/2020
BESbswy