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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $477.88
- 3 Days on Market
- MLS # : IV21035104
- Updated Date : 02/20/2021 at 05:12
CONSTRUCTION
- Beds : 3
- Floor Size : 1,040 sqft
- Baths : 1 full , 1 half
Listing Agent
Keller Williams Realty
Listing Agent's Description
Beautiful house totally rehabbed 2 years ago. Newer roof, nicely landscape with a big yard so you can expand the house or possibly put a ADU, gated for privacy. A must see.
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MARKET HIGHLIGHTS
- 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.
- 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)
PRICE & RENT TRENDS
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,990 |
| EXPENSES | Loan Payment | -$1,726 |
| Property Tax | -$457 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$117 | |
|
CASH FLOW
-$363
|
||
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.
$497,000
PROJECTED PRICE
$1,990
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$137,455
LOAN DETAILS
$1,726
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,250 |
| Loan Amount | $372,750 |
1.83
YEARS SAVED
$5,919
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,990
LIST RENT -
$1.91
LIST RENT PER SQFT
-
$1,659
COMP ESTIMATED VALUE -
$1.6
COMP AVG. RENT PER SQFT
Comps Range
-
1445 N Hope Avenue Ontario, CA 2
- 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1956 3 beds 2 baths ∙ 1,040 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $1,990
- $1.91
-
839 W El Morado Court Ontario, CA 1
- 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 1952
LEASED 04/07/20- Rent
- Rent Per SQFT
- $1,920
- $1.54
-
798 E 7th Street Upland, CA 3
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950
LEASED 03/31/20- Rent
- Rent Per SQFT
- $2,000
- $1.48
-
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
Keller Williams Realty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IV21035104
Last Updated: 02/20/2021
