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2437 Alder Drive Ontario, CA 91761

3 Beds 1 Baths 1,135 sqft Built 1987

$440,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $387.67
  • 3 Days on Market
  • MLS # : CV20231468
  • Updated Date : 11/06/2020 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,135 sqft
  • Baths : 1 full
Listing Agent

Exp Realty Of California Inc

Listing Agent's Description

Welcome HOME!!! Do not miss out on this TURNKEY home that demonstrates Pride of Ownership the moment you step on the property! Curb appeal and more with its Newly painted exterior, New garage door, beautiful and neatly manicured lawn, walking up to a New Beautiful front door. This modern updated SMART HOME offers hardwood floors as you walk in, high vaulted ceilings, new carpet, new blinds, remodeled bathrooms, vanities, and custom tiled shower, fresh interior paint, new closet doors and closet organizers, granite kitchen top and stainless steel appliances. Cozy up by the fireplace and operate Smart app controlled irrigation system, Honeywell thermostat, garage door, security all right from your smartphone!! Plenty of outdoor space, newly installed grass and pergola covered patio, backyard is prepped and ready for your home vegetable garden. Home is located in Creekside Community, near parks, pool, walking trail, and lakes. Commuter friendly, as its accessible to 60fwy and 15fwy. WHAT MORE could you ask for?! Schedule your Tour TODAY!!!

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: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10762496

* 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
Creek View Elementary School Primary Regular 629 23 5
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Creek View Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 23
5
GreatSchools Rating

Grace Yokley Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 33
6
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,623
Property Tax -$385
Property Insurance -$55
HOA -$81
Property Management Fees -$121
CASH FLOW
-$215

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.

$440,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 5.35%
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$15k

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$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.81

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0953$2,1504$2,175
$2,175
RENT COMPS ANALYSIS
  • 2437 Alder Drive Ontario, CA 1
    • 3 beds 1 baths ∙ 1,135 Sqft ∙ Built 1987 3 beds 1 baths ∙ 1,135 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.81
    •  
  • 3216 Clear Lake Road Ontario, CA 2
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1985
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.50
    •  
  • 2784 E Oak Hill Drive E Ontario, CA 3
    • 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.52
    •  
  • 3119 E Milano U-e Ontario, CA 4
    • 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,449 Sqft ∙ Built 1989
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.50
    •  
PROPERTY LISTING DETAILS
Deanna Chavez
Exp Realty Of California Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231468
Last Updated: 11/06/2020
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