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PROPERTY INFO
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
* 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 | $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
| 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
$102,475
LOAN DETAILS
$1,347
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $91,250 |
| Loan Amount | $273,750 |
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
-
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
Realty One Group Empire
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: 530888
Last Updated: 12/29/2020
