Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1841 E Jay Street Ontario, CA 91764

3 Beds 2 Baths 1,729 sqft Built 1961

$509,999

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $294.97
  • 8 Days on Market
  • MLS # : CV20248071
  • Updated Date : 12/05/2020 at 07:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full
Listing Agent

El Sol Real Estate

Listing Agent's Description

Pride of ownership!!! Curb appeal and so much more! This single level, open floor plan features living space of 1,729 square feet with a formal living room open to the dining area and kitchen. This home shows well as all the upgrades and features have been done with lots of care. The open space in living room is vast and has room for a large family and even allows for entertaining. The living room has a glass sliding door accessing the oversized covered patio with its outdoor dining area, bbq, dance deck for entertaining and so much more. The kitchen has all the necessary upgrades to include cabinets with quartz countertops and stainless steel appliances. The careful addition of wood panel features on the dining room wall and ceiling make for a lovely touch. We go down the hall way and see the nicely presented second and third bedroom with the framed window and new shutters. The home has laminate flooring throughout. Once you enter the Master Bedroom you are welcomed with natural light, a huge new window with shutters, the wall with accents that make the room feel warm and tranquil. The Master bathroom comes with a shower. The home has a brand new air conditioner! It has a large fenced front yard for safe kids at play. This home will not last! Hurry, it is a must see!

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: 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
 

$458,999$560,999$509,999

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,882
Property Tax -$469
Property Insurance -$69
Property Management Fees -$135
CASH FLOW
-$274

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.

$509,999

PROJECTED PRICE

$2,280

PROJECTED RENT

0.45%

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

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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,499
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$14,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2803$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1841 E Jay Street Ontario, CA 2
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.32
    •  
  • 819 Calaveras Avenue Ontario, CA 1
    • 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,474 Sqft ∙ Built 1954
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.42
    •  
  • 797 Olive Street E Upland, CA 3
    • 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1943
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.44
    •  
  • 9145 Jadeite Avenue Rancho Cucamonga, CA 4
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1977
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.43
    •  
  • 1361 N Hacienda Drive Ontario, CA 5
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1981
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
PROPERTY LISTING DETAILS
Belinda Riesgo
El Sol Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20248071
Last Updated: 12/05/2020
BESbswy