Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1543 N Lassen Avenue Ontario, CA 91764

3 Beds 2 Baths 1,496 sqft Built 1971

$485,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $324.20
  • 7 Days on Market
  • MLS # : IV20227926
  • Updated Date : 11/02/2020 at 16:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,496 sqft
  • Baths : 2 full
Listing Agent

All Nations Realty & Invs

Listing Agent's Description

Super clean and charming home in North Ontario. The quiet cul-de-sac and great curb appeal welcome you to this 3-bedroom 2-bathroom home. Upon entry the living room and eat-in dining are open to the updated kitchen with new cabinets and granite counter tops with plenty of space to prepare meals. The large family room is adjacent with recessed lighting, cozy carpet, Mid Century Modern Preway fireplace, large sliding doors and plenty of room to entertain or stay in. There are 2 good sized secondary bedrooms and large guest bathroom. Each bedroom room has a large closet, ceiling fans and lots of natural light. The guest bathroom has been recently updated with new vanity, tile and fixtures. The master bedroom has good sized closet, multiple windows and adjoining bath that is bright and clean. There are dual paned windows throughout. The plumbing has been replaced, including to the street by the city. The backyard is perfect for entertaining or just relaxing. Large patio cover offers plenty of shade, mature landscaping and trees, and block walls for privacy. Hook up the bar-b-que and set up a fire pit and it is great year-round. This home has been lovingly maintained by the original owners and is ready for you. Close to parks, schools, shopping and the 10/15 freeways. This home will go fast so don’t miss your opportunity to see it.

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
Vineyard Elementary School Primary Magnet 776 28 5
Vineyard Elementary School Middle Magnet 776 28 5
Chaffey High School High Regular 3,530 138 4

Vineyard Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 28
5
GreatSchools Rating

Vineyard Elementary School

  • Education Level: Middle
  • # of students: 776
  • # of teachers: 28
5
GreatSchools Rating

Chaffey High School

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

$436,500$533,500$485,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,789
Property Tax -$447
Property Insurance -$63
Property Management Fees -$136
CASH FLOW
-$135

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.

$485,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.47%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$23,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.54

    LIST RENT PER SQFT
  • $2,446

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,2004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1543 N Lassen Avenue Ontario, CA 5
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.54
    •  
  • 1015 N Placer Avenue Ontario, CA 1
    • 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 2
    • 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
    •  
  • 8348 Main Street Rancho Cucamonga, CA 3
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
  • 1908 E Highland Court Ontario, CA 4
    • 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
Darcy Mcdonagh
All Nations Realty & Invs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20227926
Last Updated: 11/02/2020
BESbswy