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1602 E Tam O Shanter Street Ontario, CA 91761

4 Beds 2 Baths 1,600 sqft Built 1977

$535,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $334.38
  • 6 Days on Market
  • MLS # : PW20236641
  • Updated Date : 11/10/2020 at 19:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

Samuel Douglas Re Group Inc

Listing Agent's Description

This beautiful single story home just been remodeled. Walk into the formal living room area with vaulted ceiling and cozy fire place. The family room and kitchen have a open concept and feature brand new slow close cabinets, quartz counter top, new lighting above island, New sink, dishwasher and stove. The home features vinyl flooring through out the entire home, new carpet in the bedrooms. The bedrooms are all really good size with plenty of closet space. Lovely natural light and fresh paint, and BRAND NEW AIR CONDITIONER. The back yard has a lemon and guava tree, and ready for you to make it beautiful and possibly add a pool!

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
Levi H. Dickey Elementary School Primary Regular 503 17 4
Woodcrest Junior High School Middle Regular 416 19 6
Chino High School High Regular 2,369 99 5

Levi H. Dickey Elementary School

  • Education Level: Primary
  • # of students: 503
  • # of teachers: 17
4
GreatSchools Rating

Woodcrest Junior High School

  • Education Level: Middle
  • # of students: 416
  • # of teachers: 19
6
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$481,500$588,500$535,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,974
Property Tax -$398
Property Insurance -$66
Property Management Fees -$129
CASH FLOW
-$377

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.

$535,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.41%

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

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$147,525

INVESTMENT

$147,525

Down Payment
$133,750
Rehab Estimate
$5,750
Closing Costs
$8,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $133,750
Loan Amount $401,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$10,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,2503$2,3004$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 1602 E Tam O Shanter Street Ontario, CA 1
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.37
    •  
  • 702 E Skylark Street Ontario, CA 2
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.37
    •  
  • 2650 S Desert Forest Avenue Ontario, CA 3
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 2619 S Dover Place Ontario, CA 4
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1978
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.50
    •  
  • 2808 S Cascades Ontario, CA 5
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
PROPERTY LISTING DETAILS
Sandra Argumedo
Samuel Douglas Re Group Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20236641
Last Updated: 11/10/2020
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