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1676 E Granada Court Ontario, CA 91764

3 Beds 2 Baths 1,333 sqft Built 1962

$474,988

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $356.33
  • 5 Days on Market
  • MLS # : CV20251960
  • Updated Date : 12/09/2020 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,333 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

This brand new home is located in a great neighborhood near 4th and Archibald ave bordering Rancho Cucamonga. The home was completely renovated. The Property offers an open floor plan great for entertaining. The living room flows to the kitchen which is upgraded with new soft-close white cabinets, quartz counter tops, light fixtures and newer appliances. Other upgrades include laminate wood flooring throughout the whole house complimented with fresh exterior and interior paint. Bathrooms have updated vanity. The home features Central heating and air conditioning. The huge backyard will be great for BBQ's and parties to entertain friends and family. Roof was redone in 2013 and Copper piping thru-out the house. Thank you for showing. 3D Virtual Tour --> https://view.ricohtours.com/7b42b5a1-429c-4c6b-ac4c-0f0ce3d43684

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Corona Elementary School Primary Regular 607 29 5
Corona Elementary School Middle Regular 607 29 5
Chaffey High School High Regular 3,530 138 4

Corona Elementary School

  • Education Level: Primary
  • # of students: 607
  • # of teachers: 29
5
GreatSchools Rating

Corona Elementary School

  • Education Level: Middle
  • # of students: 607
  • # of teachers: 29
5
GreatSchools Rating

Chaffey High School

  • Education Level: High
  • # of students: 3,530
  • # of teachers: 138
4
GreatSchools Rating
 

$427,489$522,487$474,988

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,753
Property Tax -$437
Property Insurance -$59
Property Management Fees -$116
CASH FLOW
-$395

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.

$474,988

PROJECTED PRICE

$1,970

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

PROJECTED ANNUAL CASH FLOW

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

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$131,622

INVESTMENT

$131,622

Down Payment
$118,747
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,747
Loan Amount $356,241
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,806

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $2,179

    COMP ESTIMATED VALUE
  • $1.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,1953$2,2004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1676 E Granada Court Ontario, CA 1
    • 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,333 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.48
    •  
  • 1015 N Placer Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1963
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.67
    •  
  • 1801 E Rosewood Court Ontario, CA 3
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1963
    LEASED 12/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.69
    •  
  • 8348 Main Street Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
  • 1908 E Highland Court Ontario, CA 5
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1977
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Martin Yankov
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20251960
Last Updated: 12/09/2020
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