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2316 S Malcolm Avenue Ontario, CA 91761

4 Beds 3 Baths 2,180 sqft Built 1978

$529,900

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $243.07
  • 4 Days on Market
  • MLS # : IG21018338
  • Updated Date : 01/28/2021 at 10:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,180 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Residential

Listing Agent's Description

Welcome Home! Built in 1978 this amazing home features 4 bedrooms 2.5 bathrooms and over 2,100 sqft of interior living space perfect for both small or large families. other amenities include vaulted ceilings, kitchen with granite counter tops, wood burning fireplace in living room, large master suite and so much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$476,910$582,890$529,900

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,841
Property Tax -$491
Property Insurance -$80
Property Management Fees -$151
CASH FLOW
-$3

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.

$529,900

PROJECTED PRICE

$2,560

PROJECTED RENT

0.48%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$146,174

INVESTMENT

$146,174

Down Payment
$132,475
Rehab Estimate
$5,750
Closing Costs
$7,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,475
Loan Amount $397,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$32,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,780

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5604$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 2316 S Malcolm Avenue Ontario, CA 3
    • 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.17
    •  
  • 6835 Arthur Court Chino, CA 1
    • 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.29
    •  
  • 576 E Tam O Shanter Street Ontario, CA 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
  • 2637 S Cucamonga Avenue Ontario, CA 4
    • 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,969 Sqft ∙ Built 1979
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.32
    •  
  • 1219 E Oak Hill Drive Ontario, CA 5
    • 5 beds 3 baths ∙ 2,100 Sqft ∙ Built 1978 5 beds 3 baths ∙ 2,100 Sqft ∙ Built 1978
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.31
    •  
PROPERTY LISTING DETAILS
Steve Walker
Coldwell Banker Residential
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21018338
Last Updated: 01/28/2021
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