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2483 E Darien Street Ontario, CA 91761

4 Beds 3 Baths 2,401 sqft Built 2017

$549,999

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $229.07
  • 18 Days on Market
  • MLS # : IG20242899
  • Updated Date : 12/01/2020 at 13:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,401 sqft
  • Baths : 3 full
Listing Agent

Carrie Real Estate

Listing Agent's Description

Don't miss this 2017 almost new move-in ready energy efficient home by D.R. Horton with paid-off Solar, tankless water heater, downstairs bedroom, upstairs loft, upstairs laundry room and nice relaxing yard in this wonderful 4 bedrooms & 3 bathrooms home located in the most desirable area of Ontario Ranch. Community also has children's playground with professional greenbelt landscaping. Convenient location, walking distance to bank, grocery store, park, golf course and so much more. Minutes to 60 fwy and convenient location to many places including Ontario Airport.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10762618

* 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
Mountain View Elementary School Primary Regular 466 17 5
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 17
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
 

$494,999$604,999$549,999

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 -$2,029
Property Tax -$476
Property Insurance -$85
HOA -$90
Property Management Fees -$151
CASH FLOW
-$272

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.

$549,999

PROJECTED PRICE

$2,560

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.95%
Appreciation Year (1-5) 7.0%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,499
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$18,243

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
  • $1.07

    LIST RENT PER SQFT
  • $2,803

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5603$2,6004$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 2483 E Darien Street Ontario, CA 2
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.07
    •  
  • 3693 S Dulisse S Ontario, CA 1
    • 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,064 Sqft ∙ Built 2017
    property image
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.16
    •  
  • 2447 E Salem Street Ontario, CA 3
    • 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,241 Sqft ∙ Built 2017
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.16
    •  
  • 2489 E Danbury Street Ontario, CA 4
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 2017
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.12
    •  
  • 3158 Clover Lane Ontario, CA 5
    • 5 beds 3 baths ∙ 2,272 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,272 Sqft ∙ Built 1997
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.23
    •  
PROPERTY LISTING DETAILS
Mina Carrie
Carrie Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG20242899
Last Updated: 12/01/2020
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