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176 W Walnut Avenue #D Rialto, CA 92376

3 Beds 3 Baths 1,462 sqft Built 1987

$279,999

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $191.52
  • 4 Days on Market
  • MLS # : CV20243461
  • Updated Date : 11/20/2020 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,462 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Citrus Realty Inc

Listing Agent's Description

Gated Highland Village TownHome in Rialto, Two level unit 3Bedrooms 2.5 Bath with 1462sqft 2 car garage Attached to the unit with direct access. This unit offers spacious living room with fireplace, family room and formal dining area.A private and spacious courtyard . INVESTMENT OPPORTUNITY,!!see Remarks

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Preston Elementary School Primary Regular 585 22 2
Kolb Middle School Middle Regular 971 49 2
Carter High School High Regular 2,412 98 6

Preston Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 22
2
GreatSchools Rating

Kolb Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 49
2
GreatSchools Rating

Carter High School

  • Education Level: High
  • # of students: 2,412
  • # of teachers: 98
6
GreatSchools Rating
 

$251,999$307,999$279,999

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,033
Property Tax -$325
Property Insurance -$63
HOA -$250
Property Management Fees -$100
CASH FLOW
-$71

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.

$279,999

PROJECTED PRICE

$1,700

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $209,999
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,7003$1,7504$1,8755$2,150
$2,150
RENT COMPS ANALYSIS
  • 176 W Walnut Avenue Rialto, CA 2
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.16
    •  
  • 413 W Jackson Street Rialto, CA 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.14
    •  
  • 172 W Walnut Avenue Rialto, CA 3
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
  • 1148 W Cornell Street Rialto, CA 4
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
  • 652 N Birch Avenue Rialto, CA 5
    • 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,710 Sqft ∙ Built 1989
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.26
    •  
PROPERTY LISTING DETAILS
Mireya Chavarria
Century 21 Citrus Realty Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20243461
Last Updated: 11/20/2020
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