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221 E South Street Rialto, CA 92376

3 Beds 1 Baths 1,107 sqft Built 1956

INVESTimate

$328,888

List Price

$1,600

$1,440 - $1,760

Rent Est.

$367,565  ( +11.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $297.10
  • 3 Days on Market
  • MLS # : CV20172302
  • Updated Date : 08/24/2020 at 19:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,107 sqft
  • Baths : 1 full
Listing Agent

Re/max Champions

Listing Agent's Description

Clean/ Move in ready Home freshly painted interior/exterior with new ROOf, Windows, Evaporative Cooler and wall heater, Laminated Flooring on Kitchen, Baths, and Carpet Throughout. This home offers 3 bedrooms and 1.75 baths with a large rear yard for room to grow. Close to shopping centers

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: Downtown Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $97k459k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Downtown Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q280090010001100120013001400150016001700180019002000Rent in $7872044

* 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
Curtis Elementary School Primary Regular 636 22 5
Jehue Middle School Middle Regular 1,401 51 2
Rialto High School High Regular 2,881 121 5

Curtis Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 22
5
GreatSchools Rating

Jehue Middle School

  • Education Level: Middle
  • # of students: 1,401
  • # of teachers: 51
2
GreatSchools Rating

Rialto High School

  • Education Level: High
  • # of students: 2,881
  • # of teachers: 121
5
GreatSchools Rating
 

$295,999$361,777$328,888

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,213
Property Tax -$353
Property Insurance -$54
Property Management Fees -$99
CASH FLOW
-$119

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.

$328,888

PROJECTED PRICE

$1,600

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 11.76%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,905

INVESTMENT

$92,905

Down Payment
$82,222
Rehab Estimate
$5,750
Closing Costs
$4,933

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,222
Loan Amount $246,666
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,173

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
  • $1.45

    LIST RENT PER SQFT
  • $1,223

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5003$1,600
$1,600
RENT COMPS ANALYSIS
  • 221 E South Street Rialto, 3
    • 3 beds 1 baths ∙ 1,107 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,107 Sqft ∙ Built 1956
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.45
    •  
  • 432 W Jackson Street Rialto, 1
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    property image
    LEASED 08/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 320 E Rialto Avenue Rialto, 2
    • 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,285 Sqft ∙ Built 1953
    property image
    LEASED 04/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Viviano Alvarez
Re/max Champions
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20172302
Last Updated: 08/24/2020
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