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PROPERTY INFO
FACTS
- Single Family
- Built In 1956
- Price/Sqft : $394.35
- 5 Days on Market
- MLS # : CV20264452
- Updated Date : 01/02/2021 at 15:07
CONSTRUCTION
- Beds : 4
- Floor Size : 1,240 sqft
- Baths : 2 full
Listing Agent
Kw Vision
Listing Agent's Description
Welcome home! Beautiful Move in Ready 4 bed 2 bath, beautifully landscaped home! Come fall in love with this stunning spacious big back yard family home, in a great area of North Ontario! As you enter, This beautiful home immediately welcomes you inside with its high vaulted ceiling, that create a very open and comfortable feeling! Bedrooms are inviting and the house is sparkling clean. Kitchen has plenty counter space, Living room has a cozy brick fireplace and tile floor in Living area. This home features a New Roof, Spacious 2 car garage, RV parking and is perfect for entertaining outdoors. The front yard is well manicured, maintained, with a Lush green lawn! The back yard has block walls, a nice private feel for your outdoor entertainment activities and No neighbors behind you! This is a must see! Exceptionally well maintained home! One look and you’ll want to own! Don't miss this one!
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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: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,900 |
| EXPENSES | Loan Payment | -$1,804 |
| Property Tax | -$450 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$112 | |
|
CASH FLOW
-$524
|
||
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.
$489,000
PROJECTED PRICE
$1,900
PROJECTED RENT
0.39%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$135,335
LOAN DETAILS
$1,804
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $122,250 |
| Loan Amount | $366,750 |
0.75
YEARS SAVED
$1,835
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,900
LIST RENT -
$1.53
LIST RENT PER SQFT
-
$1,864
COMP ESTIMATED VALUE -
$1.5
COMP AVG. RENT PER SQFT
Comps Range
-
1605 Amador Avenue Ontario, CA 1
- 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1956 4 beds 2 baths ∙ 1,240 Sqft ∙ Built 1956
- Rent
- Rent Per SQFT
- $1,900
- $1.53
-
798 E 7th Street Upland, CA 2
- 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1950
LEASED 03/31/20- Rent
- Rent Per SQFT
- $2,000
- $1.48
-
819 Calaveras Avenue Ontario, CA 3
- 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
LEASED 08/16/19- Rent
- Rent Per SQFT
- $2,100
- $1.42
-
537 W J Street Ontario, CA 4
- 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1958
LEASED 01/15/20- Rent
- Rent Per SQFT
- $2,350
- $1.61
PROPERTY LISTING DETAILS
Kw Vision
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20264452
Last Updated: 01/02/2021
