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1611 E Elma Privado Ontario, CA 91764

4 Beds 3 Baths 2,832 sqft Built 2004

$638,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $225.28
  • 5 Days on Market
  • MLS # : TR20232686
  • Updated Date : 11/04/2020 at 14:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,832 sqft
  • Baths : 3 full
Listing Agent

Remax 2000 Realty

Listing Agent's Description

Luxurious home located in the gated Community of Aldergate. Move-in Condition. An excellent floor plan. Over-sized master bedroom with two vanity sinks a separate toilet, a standing shower with glass enclosure, as well as a large walk in closet. The family room has a cozy fireplace. Gourmet kitchen with central island and stainless-steel appliances. Recessed lighting throughout. 3 car tandem garage (2 car wide and 38 ft deep on 1 side). Backyard is a clean slate, so you have the artistic freedom to design it to your vision. This beautiful community has a huge community swimming pool and Spa. Very quiet and private neighborhood. The home is conveniently located just moments away from multiple parks, a shopping mall, schools, and countless restaurants! Close to Highway 10 and Ontario Airport. Low HOA and Low tax rate.  Come to see this fabulous house and fall in love!

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: 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
Mariposa Elementary School Primary Regular 739 34 3
Wiltsey Middle School Middle Regular 1,043 44 4
Colony High School High Regular 2,079 84 6

Mariposa Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 34
3
GreatSchools Rating

Wiltsey Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 44
4
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$574,200$701,800$638,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,354
Property Tax -$587
Property Insurance -$96
HOA -$185
Property Management Fees -$158
CASH FLOW
-$700

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.

$638,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.42%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,820

INVESTMENT

$174,820

Down Payment
$159,500
Rehab Estimate
$5,750
Closing Costs
$9,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,354

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $159,500
Loan Amount $478,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,605

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,7003$2,800
$2,800
RENT COMPS ANALYSIS
  • 1611 E Elma Privado Ontario, CA 1
    • 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,832 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.95
    •  
  • 9578 Harvest Vista Drive Rancho Cucamonga, CA 2
    • 5 beds 3 baths ∙ 2,921 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,921 Sqft ∙ Built 2013
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.92
    •  
  • 9394 Homestead Drive Rancho Cucamonga, CA 3
    • 4 beds 3 baths ∙ 3,031 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,031 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Amy Ji
Remax 2000 Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20232686
Last Updated: 11/04/2020
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