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1570 N Gardena Avenue Rialto, CA 92376

4 Beds 3 Baths 2,182 sqft Built 1989

$419,800

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $192.39
  • 3 Days on Market
  • MLS # : IG20234789
  • Updated Date : 11/06/2020 at 15:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,182 sqft
  • Baths : 3 full
Listing Agent

First Team Real Estate

Listing Agent's Description

Amazing remodeled 4 bedroom 3 bath home in the desirable Park Meadows. As you walk in you will notice the open floor plan. This home has new flooring, new granite countertops, new stainless steel appliances, new facets, new hardware, blinds, and custom paint. This model also comes with 1 bedroom downstairs. This community is close to the freeway and award winning schools. Hurry before it's gone.

SEE MORE

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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Preston Elementary School Primary Regular 585 22 2
Kolb Middle School Middle Regular 971 49 2
Eisenhower High School High Regular 2,456 99 4

Preston Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 22
2
GreatSchools Rating

Kolb Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 49
2
GreatSchools Rating

Eisenhower High School

  • Education Level: High
  • # of students: 2,456
  • # of teachers: 99
4
GreatSchools Rating
 

$377,820$461,780$419,800

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 -$1,549
Property Tax -$487
Property Insurance -$80
HOA -$130
Property Management Fees -$136
CASH FLOW
-$82

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.

$419,800

PROJECTED PRICE

$2,300

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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$15k

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$116,997

INVESTMENT

$116,997

Down Payment
$104,950
Rehab Estimate
$5,750
Closing Costs
$6,297

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,950
Loan Amount $314,850
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$20,594

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
  • $1.05

    LIST RENT PER SQFT
  • $2,429

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,3004$2,400
$2,400
RENT COMPS ANALYSIS
  • 1570 N Gardena Avenue Rialto, CA 3
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 2148 N Palm Avenue Rialto, CA 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 1025 W Jackson Street Rialto, CA 2
    • 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1991
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.08
    •  
  • 5723 N Sycamore Avenue Rialto, CA 4
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 1974
    LEASED 06/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.18
    •  
PROPERTY LISTING DETAILS
Jeff Davidson
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20234789
Last Updated: 11/06/2020
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