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1762 Plaza Serena Ontario, CA 91764

6 Beds 2 Baths 2,096 sqft Built 1963

$599,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $286.21
  • 5 Days on Market
  • MLS # : CV20231769
  • Updated Date : 11/05/2020 at 11:39
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,096 sqft
  • Baths : 2 full
Listing Agent

Realty World All Stars

Listing Agent's Description

Lovingly maintained & ready for a new family to move in and begin making memories! Hard to find SIX true bedrooms – all with closets! Three bedrooms downstairs, three bedrooms upstairs! Gorgeous honey hued solid oak flooring gleams throughout this lovely home (no laminate here!) Crown moulding, double pane windows, “whole-house” fan, 10 ceiling fans & dual A/C units are added value. The family chef will appreciate a beautiful updated kitchen w/gas stovetop, microwave, built-in oven, dishwasher & Corian countertops. A traditional brick fireplace w/gas log-lighter & custom mantle is highlighted in the formal living area; a welcome spot on chilly winter evenings. Gather guests & serve them a brew or two for memorable NFL game nights at the custom bar! Out back, an awesome pebble tech finished pool is perfect for summertime enjoyment. The attached 2-car garage is immaculate with ceramic tiled flooring & auto roll-up door. Remote controlled automatic gate at driveway for optimum convenience. Washer & Dryer are included w/sale. Upgraded 200 amp electrical panel. Only a few years left on the Solar lease; it will transfer to the new owner.

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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

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
 

$539,910$659,890$599,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$2,213
Property Tax -$552
Property Insurance -$78
Property Management Fees -$156
CASH FLOW
-$349

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.

$599,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.44%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$15,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,809

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,675
$2,675
RENT COMPS ANALYSIS
  • 1762 Plaza Serena Ontario, CA 1
    • 6 beds 2 baths ∙ 2,096 Sqft ∙ Built 1963 6 beds 2 baths ∙ 2,096 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.26
    •  
  • 9372 Calle Vejar Rancho Cucamonga, CA 2
    • 5 beds 2 baths ∙ 2,000 Sqft ∙ Built 1977 5 beds 2 baths ∙ 2,000 Sqft ∙ Built 1977
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $1.34
    •  
PROPERTY LISTING DETAILS
Sharon Morrow
Realty World All Stars
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231769
Last Updated: 11/05/2020
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