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1811 N Leeds Avenue Ontario, CA 91764

3 Beds 1 Baths 940 sqft Built 1954

$435,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $462.77
  • 3 Days on Market
  • MLS # : IV21000248
  • Updated Date : 01/02/2021 at 15:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 940 sqft
  • Baths : 1 full
Listing Agent

Harold E Miller Realtor

Listing Agent's Description

You must see this charming three bedroom home in quite neighborhood, with an attached two car garage. New paint throughout. Granite counters in the kitchen, attractive cabinets, double sinks, stove and dishwasher. Stay comfortable with the central air conditioning and heating system. Corner lot with spacious rear and side yard for entertaining your guests. Bring your boat or RV or both and park them in the spacious fenced secure side yard area. Carpet needs replacing so seller is offering a $2,000 carpet allowance to buyer at close of escrow. Come view this beautiful home, you won't be disappointed! NOTE: Due to the overwhelming response several offers have been received. The deadline to submit offers is 9:30am Sunday January 3, 2021. All offers received by then will be presented to Seller immediately thereafter. Offers received after 9:30am January 3, 2021 will be presented to the seller and considered as back up offers. Thank you for your understanding.

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
Arroyo Elementary School Primary Regular 392 17 5
Arroyo Elementary School Middle Regular 392 17 5
Chaffey High School High Regular 3,530 138 4

Arroyo Elementary School

  • Education Level: Primary
  • # of students: 392
  • # of teachers: 17
5
GreatSchools Rating

Arroyo Elementary School

  • Education Level: Middle
  • # of students: 392
  • # of teachers: 17
5
GreatSchools Rating

Chaffey High School

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

$391,500$478,500$435,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,605
Property Tax -$402
Property Insurance -$50
Property Management Fees -$99
CASH FLOW
-$556

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.

$435,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.37%

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

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$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.7

    LIST RENT PER SQFT
  • $1,601

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,9004$2,100
$2,100
RENT COMPS ANALYSIS
  • 1811 N Leeds Avenue Ontario, CA 1
    • 3 beds 1 baths ∙ 940 Sqft ∙ Built 1954 3 beds 1 baths ∙ 940 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.70
    •  
  • 8167 Archibald Rancho Cucamonga, CA 2
    • 3 beds 1 baths ∙ 1,028 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,028 Sqft ∙ Built 1954
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.70
    •  
  • 1321 N Vineyard Avenue Ontario, CA 3
    • 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
    •  
  • 244 S 3rd Avenue Upland, CA 4
    • 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,220 Sqft ∙ Built 1948
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.72
    •  
PROPERTY LISTING DETAILS
Harold Miller
Harold E Miller Realtor
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV21000248
Last Updated: 01/02/2021
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