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1446 N Gardenia Avenue Ontario, CA 91762

3 Beds 3 Baths 1,243 sqft Built 1978

$365,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $293.64
  • 6 Days on Market
  • MLS # : 530888
  • Updated Date : 12/29/2020 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,243 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Empire

Listing Agent's Description

FHA/VA approved! Turn Key Home in Ontario featuring 3 Bedrooms, 2.5 Baths. Master with bath and walk-in closet, 2-Car Garage, with Laundry hookups, Newer Water Heater, & Newer Central A/C. Remodeled Kitchen, Granite Counters, Updated Baths, New sinks & toilets, New paint, New ceiling fans. Offers a Private Yard & Lots of Parking. Complex has Pool, Tennis courts, handball courts, & walking paths. Centrally Located to Shopping, Schools, Parks, Restaurants, Theaters, Freeways, and more. You wont be disappointed!! # of RV Spaces: 0POOL,TENN,RACB Lot Location Type: Standard Location Pool Features: Common Pool Special Features: None # of Attached Spaces: 0 # of Detached Spaces: 2

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
El Camino Elementary School Primary Regular 460 20 5
El Camino Elementary School Middle Regular 460 20 5
Montclair High School High Regular 3,034 117 6

El Camino Elementary School

  • Education Level: Primary
  • # of students: 460
  • # of teachers: 20
5
GreatSchools Rating

El Camino Elementary School

  • Education Level: Middle
  • # of students: 460
  • # of teachers: 20
5
GreatSchools Rating

Montclair High School

  • Education Level: High
  • # of students: 3,034
  • # of teachers: 117
6
GreatSchools Rating
 

$328,500$401,500$365,000

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 -$1,347
Property Tax -$336
Property Insurance -$57
HOA -$315
Property Management Fees -$119
CASH FLOW
-$154

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.

$365,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,392

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
  • $1.63

    LIST RENT PER SQFT
  • $2,032

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0203$2,2004$2,3505$2,700
$2,700
RENT COMPS ANALYSIS
  • 1446 N Gardenia Avenue Ontario, CA 2
    • 3 beds 3 baths ∙ 1,243 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,243 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.63
    •  
  • 1334 N Elderberry Avenue Ontario, CA 1
    • 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,246 Sqft ∙ Built 1976
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.60
    •  
  • 9863 Steamboat Drive Montclair, CA 3
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1981
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
  • 537 W J Street Ontario, CA 4
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.61
    •  
  • 738 W 7th Street Upland, CA 5
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1958
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.72
    •  
PROPERTY LISTING DETAILS
Jessika Gomez
Realty One Group Empire
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 530888
Last Updated: 12/29/2020
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