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229 W Chaparral Street Rialto, CA 92376

3 Beds 2 Baths 1,774 sqft Built 1971

$403,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $227.68
  • 8 Days on Market
  • MLS # : IG20225212
  • Updated Date : 11/01/2020 at 16:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full
Listing Agent

First Team Real Estate

Listing Agent's Description

This beautiful single story home will not be on the market long! It has 3 spacious bedrooms and 2 full bathrooms and a his and hers sink in the master. It is extremely spacious with a living room and a large family room that was an add on! The kitchen has an open layout with plenty of counter space. Newer Air Condition, Laminate flooring. The 210 freeway is really close giving you quick access to whatever you might need. It's backyard is a open and ready for any activities you might have planned! The property also has a brand new water filtration system. There is no HOA and the property taxes are low. It's within walking to Eisenhower High School and Preston Elementary School.

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
 

$363,510$444,290$403,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,490
Property Tax -$469
Property Insurance -$70
Property Management Fees -$115
CASH FLOW
-$194

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.

$403,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.48%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$112,784

INVESTMENT

$112,784

Down Payment
$100,975
Rehab Estimate
$5,750
Closing Costs
$6,059

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,975
Loan Amount $302,925
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$12,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8953$1,9504$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 229 W Chaparral Street Rialto, CA 3
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.10
    •  
  • 172 W Walnut Avenue Rialto, CA 1
    • 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
    •  
  • 1579 N Clifford Avenue Rialto, CA 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1960
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.25
    •  
  • 2148 N Palm Avenue Rialto, CA 4
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1979
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
  • 423 E Mesa Drive Rialto, CA 5
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1958
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.26
    •  
PROPERTY LISTING DETAILS
Gloria O'brien
First Team Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20225212
Last Updated: 11/01/2020
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