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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rialto
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$112,784
LOAN DETAILS
$1,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $100,975 |
| Loan Amount | $302,925 |
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
-
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
First Team Real Estate
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: IG20225212
Last Updated: 11/01/2020
