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1744 N Mariposa Avenue Ontario, CA 91764

3 Beds 2 Baths 1,114 sqft Built 1964

$509,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $456.91
  • 7 Days on Market
  • MLS # : CV21060043
  • Updated Date : 03/26/2021 at 20:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,114 sqft
  • Baths : 2 full
Listing Agent

Realty Masters & Associates

Listing Agent's Description

Welcome to Ontario. Property is in a Cul-de-sac. Remodeled home features 3 bed 2 bath. Upgrades include New Driveway, Granite kitchen w/ Backsplash, Vinyl Flooring, Interior/Exterior Paint, Base molding, Electrical Outlets, Lighting, New Vanity in one restroom and in the other restroom new bath tub with tile. HVAC has been installed and ready for summer. Property has newer windows and roof is about 10 years old. conveniently located near 10 Fwy and School. Home has a spacious backyard.

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
Wiltsey Middle School Middle Regular 1,043 44 4
Chaffey High School High Regular 3,530 138 4

Wiltsey Middle School

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

Chaffey High School

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

$458,100$559,900$509,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,768
Property Tax -$469
Property Insurance -$54
Property Management Fees -$115
CASH FLOW
-$456

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.

$509,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.38%

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-$10k-$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,635

INVESTMENT

$140,635

Down Payment
$127,250
Rehab Estimate
$5,750
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,768

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,032

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.75

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $1.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1744 N Mariposa Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,114 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.75
    •  
  • 1321 N Vineyard Avenue Ontario, CA 1
    • 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1971
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.69
    •  
  • 1941 E Olive Street Ontario, CA 3
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1984
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.71
    •  
  • 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
    property image
    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
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.61
    •  
PROPERTY LISTING DETAILS
Roger Zapata
Realty Masters & Associates
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21060043
Last Updated: 03/26/2021
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