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1435 N Hope Avenue Ontario, CA 91764

3 Beds 2 Baths 1,040 sqft Built 1956

$539,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $518.27
  • 102 Days on Market
  • MLS # : CV20243194
  • Updated Date : 02/23/2021 at 14:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,040 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

*Great family home in a quiet area of Ontario*Original owners*Prime area close to elementary schools*Home features two enclosed patios with an additional 711 square footage*Wide driveway to park your cars and toys*Electric front gate*Updated kitchen and baths*Front and the rear yard was reseeded*Short walk to Ontario historical district*Great location close to shopping, 10 Freeway, Ontario Mills and Montclair Plaza*

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
Berlyn Elementary School Primary Regular 759 31 3
Berlyn Elementary School Middle Regular 759 31 3
Chaffey High School High Regular 3,530 138 4

Berlyn Elementary School

  • Education Level: Primary
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Berlyn Elementary School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 31
3
GreatSchools Rating

Chaffey High School

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

$485,100$592,900$539,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,872
Property Tax -$496
Property Insurance -$52
Property Management Fees -$104
CASH FLOW
-$764

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.

$539,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.33%

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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$52

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.69

    LIST RENT PER SQFT
  • $1,760

    COMP ESTIMATED VALUE
  • $1.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,9003$2,1004$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1435 N Hope Avenue Ontario, CA 1
    • 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.69
    •  
  • 1321 N Vineyard Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.69
    •  
  • 244 S 3rd Avenue Upland, CA 3
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
  • 1015 N Placer Avenue Ontario, CA 4
    • 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
    •  
  • 1801 E Rosewood Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1963
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.69
    •  
PROPERTY LISTING DETAILS
Manuel Dominguez
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20243194
Last Updated: 02/23/2021
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