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1513 E Fresno Street Ontario, CA 91764

4 Beds 2 Baths 1,200 sqft Built 1964

$465,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $387.50
  • 6 Days on Market
  • MLS # : CV21011589
  • Updated Date : 01/22/2021 at 12:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

Kw College Park

Listing Agent's Description

Located in a great neighborhood near 4th and Vineyard, so much of this home has just been remodeled. With an open floor plan for entertaining, the living room flows to the kitchen which is upgraded with pristine white, soft close cabinetry, quartz countertops, and all new appliances. Both bathrooms have new vanities and sinks. Front bathroom has re-glazed bath tub, back bathroom has re-glazed shower enclosure. Other upgrades include beautiful laminate flooring throughout the house, freshly painted interior and exterior, energy efficient windows, and new garage door. Roof was last inspected in 2018. Large backyard for BBQ's and entertaining. This one is priced to sell, and won't last!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Del Norte Elementary School Primary Regular 628 28 4
Wiltsey Middle School Middle Regular 1,043 44 4
Chaffey High School High Regular 3,530 138 4

Del Norte Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 28
4
GreatSchools Rating

Wiltsey Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 44
4
GreatSchools Rating

Chaffey High School

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

$418,500$511,500$465,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,615
Property Tax -$427
Property Insurance -$56
Property Management Fees -$115
CASH FLOW
-$264

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.

$465,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$9,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.63

    LIST RENT PER SQFT
  • $1,998

    COMP ESTIMATED VALUE
  • $1.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1954$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1513 E Fresno Street Ontario, CA 2
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.63
    •  
  • 1321 N Vineyard Avenue Ontario, CA 1
    • 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
    •  
  • 1015 N Placer Avenue Ontario, CA 3
    • 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 4
    • 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
    •  
  • 1908 E Highland Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Jacqueline Pendleton
Kw College Park
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21011589
Last Updated: 01/22/2021
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