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1425 W Tropicana Court Ontario, CA 91762

5 Beds 3 Baths 2,864 sqft Built 2003

$990,000

List Price

$3,370

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $345.67
  • 20 Days on Market
  • MLS # : PW20261525
  • Updated Date : 12/22/2020 at 18:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,864 sqft
  • Baths : 3 full
Listing Agent

Blu Ocean Realty

Listing Agent's Description

Don't miss out on this opportunity!!! Located on a cul-de-sac, with 5 spacious bedrooms, 3 full baths, 2,894 sq ft on almost 1/2 acre lot, built in 2003. This well-maintained home has great curb appeal with manicured landscaping, a front porch, and a 3 car garage. It features a large kitchen with granite countertops, recessed lighting, breakfast nook and an island that has a breakfast bar. The family room has a fireplace that is perfect for those cozy evenings. The master bedroom is spacious with his and hers walk-in closets, soaking tub, and dual vanities. The backyard a covered patio area, a pool for those fun summer days, waterfall spa, fully landscaped and leads to the horse/bridle trails. The property is zoned for up to 3 horses and can have a small barn or stable built. Conveniently located between 60 and 10 freeways, close to shopping, schools, and entertainment.

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
Vista Grande Elementary School Primary Regular 527 22 6
Vista Grande Elementary School Middle Regular 527 22 6
Ontario High School High Regular 2,549 102 6

Vista Grande Elementary School

  • Education Level: Primary
  • # of students: 527
  • # of teachers: 22
6
GreatSchools Rating

Vista Grande Elementary School

  • Education Level: Middle
  • # of students: 527
  • # of teachers: 22
6
GreatSchools Rating

Ontario High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 102
6
GreatSchools Rating
 

$891,000$1,089,000$990,000

PURCHASE PRICE

$3,033$3,707$3,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,370
EXPENSES Loan Payment -$3,439
Property Tax -$918
Property Insurance -$97
Property Management Fees -$199
CASH FLOW
-$1,282

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.

$990,000

PROJECTED PRICE

$3,370

PROJECTED RENT

0.34%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$268,100

INVESTMENT

$268,100

Down Payment
$247,500
Rehab Estimate
$5,750
Closing Costs
$14,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,439

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $247,500
Loan Amount $742,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,370

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $3,093

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7203$2,8504$2,8505$3,370
$3,370
RENT COMPS ANALYSIS
  • 1425 W Tropicana Court Ontario, CA 5
    • 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,864 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,370
    • $1.18
    •  
  • 11238 Ada Avenue Montclair, CA 1
    • 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2006
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 11557 Cantara Drive Chino, CA 2
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $1.07
    •  
  • 11605 Solaire Way Chino, CA 3
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2018
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.12
    •  
  • 11562 Cantara Drive Chino, CA 4
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.12
    •  
PROPERTY LISTING DETAILS
Eddie Garcia
Blu Ocean Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20261525
Last Updated: 12/22/2020
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