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212 W Walnut Avenue #B Rialto, CA 92376

3 Beds 3 Baths 1,340 sqft Built 2005

$308,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $229.85
  • 15 Days on Market
  • MLS # : EV20262875
  • Updated Date : 01/08/2021 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,340 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sunset Homes Real Estate

Listing Agent's Description

NEWLY REMODELED. This home offers new: Kitchen, bathrooms, flooring, garage door, and more. Home is a must see. Enjoy an open floor plan on the main level with remodeled kitchen, living area, dining area, along with a lush patio for those relaxing evenings and gatherings. The second level offers 3 remodeled ample bedrooms and bathrooms ready for your enjoyment. Do not let this home pass you buy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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.

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
 

$277,200$338,800$308,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,070
Property Tax -$330
Property Insurance -$60
HOA -$250
Property Management Fees -$101
CASH FLOW
-$100

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.

$308,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.56%

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,370

INVESTMENT

$87,370

Down Payment
$77,000
Rehab Estimate
$5,750
Closing Costs
$4,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,000
Loan Amount $231,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $1.28

    LIST RENT PER SQFT
  • $1,588

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,710
1$1,7102$1,7503$1,875
$1,875
RENT COMPS ANALYSIS
  • 212 W Walnut Avenue Rialto, CA 1
    • 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $1.28
    •  
  • 172 W Walnut Avenue Rialto, CA 2
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1987
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.20
    •  
  • 1148 W Cornell Street Rialto, CA 3
    • 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,605 Sqft ∙ Built 1988
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.17
    •  
PROPERTY LISTING DETAILS
Alexander Ortiz
Sunset Homes Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: EV20262875
Last Updated: 01/08/2021
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