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

2102 S Plum Avenue Ontario, CA 91761

4 Beds 2 Baths 1,221 sqft Built 1975

$499,999

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $409.50
  • 5 Days on Market
  • MLS # : PW21033300
  • Updated Date : 02/20/2021 at 05:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,221 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Pacific Estates La Mirada

Listing Agent's Description

Charming, lovely, upgraded/updated and affordable. This Modern style home is a masterpiece you do not want to miss. Take a step inside the gorgeous Front Double French doors and feel at ease with the newly installed beautiful gray hardwood flooring throughout. Enjoy the spacious family around the fireplace with you and your loved ones. Have your heart flutter with the freshly painted walls, base boards and be at peace with the glistening granite counter tops. Feel at ease knowing the solar panels provide enough electricity to keep you and your family warm and comfortable at an affordable price. This 4 bedroom 2 bathroom home with a brand new AC sits on a large 7200 sqft lot perfect to entertain the company of your choice. Attached 2-car garage and a large storage shed/mancave in the backyard. Conveniently located close tot he freeway easy access yet far enough away to enjoy your peace in quiet in your safe desirable neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
De Anza Middle School Middle Regular 579 27 3
Ontario High School High Regular 2,549 102 6

De Anza Middle School

  • Education Level: Middle
  • # of students: 579
  • # of teachers: 27
3
GreatSchools Rating

Ontario High School

  • Education Level: High
  • # of students: 2,549
  • # of teachers: 102
6
GreatSchools Rating
 

$449,999$549,999$499,999

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,737
Property Tax -$460
Property Insurance -$57
Property Management Fees -$129
CASH FLOW
-$202

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.

$499,999

PROJECTED PRICE

$2,180

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$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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$14,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.79

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0503$2,1804$2,2955$2,300
$2,300
RENT COMPS ANALYSIS
  • 2102 S Plum Avenue Ontario, CA 3
    • 4 beds 2 baths ∙ 1,221 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,221 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.79
    •  
  • 1128 Pinewood Lane Ontario, CA 1
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 1981
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.49
    •  
  • 2237 S Fern Avenue Ontario, CA 2
    • 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,399 Sqft ∙ Built 1984
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.47
    •  
  • 2111 Caldwell Place Ontario, CA 4
    • 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,426 Sqft ∙ Built 1977
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.61
    •  
  • 228 E Banyan Street Ontario, CA 5
    • 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1978
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
PROPERTY LISTING DETAILS
Christopher Arrieta
Keller Williams Pacific Estates La Mirada
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21033300
Last Updated: 02/20/2021
BESbswy