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1586 W Mcwethy Street Rialto, CA 92376

3 Beds 3 Baths 2,236 sqft Built 2007

$529,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $236.99
  • 5 Days on Market
  • MLS # : IV21038472
  • Updated Date : 02/25/2021 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,236 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Hs Ca

Listing Agent's Description

TURNKEY HOME READY TO MOVE INTO. Home has been recently Remodeled. 3 Bedrooms Plus Bonus room That can be converted to a bedroom. 2.5 bathrooms, Very Nice Kitchen with Quarts Counter tops Center Island, Brand New Stove Dishwasher, water filter, recess Lighting, Home flooring Vinyl planks water resistant through out home. All bedrooms have mirrored closets and ceiling fans, recess lighting in living room and family room, Chimney has rock tile. New Dual pane window and sliding door leading to the back yard, Block wall all around. Large pool size Lot. Must see to appreciate.

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: 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
Virginia Primrose Elementary School Primary Regular 538 22 3
Alder Middle School Middle Regular 1,167 48 2
Fontana A. B. Miller High School High Regular 2,352 112 4

Virginia Primrose Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 22
3
GreatSchools Rating

Alder Middle School

  • Education Level: Middle
  • # of students: 1,167
  • # of teachers: 48
2
GreatSchools Rating

Fontana A. B. Miller High School

  • Education Level: High
  • # of students: 2,352
  • # of teachers: 112
4
GreatSchools Rating
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,841
Property Tax -$604
Property Insurance -$81
Property Management Fees -$138
CASH FLOW
-$324

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.

$529,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.44%

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$1.6M$1.8M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,214

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1953$2,340
$2,340
RENT COMPS ANALYSIS
  • 1586 W Mcwethy Street Rialto, CA 3
    • 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,236 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.05
    •  
  • 18115 Emanuelli Court Fontana, CA 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1987
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.90
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Pedro Rodriguez
Berkshire Hathaway Hs Ca
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21038472
Last Updated: 02/25/2021
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