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2708 Blue Fox Drive Ontario, CA 91761

3 Beds 3 Baths 1,602 sqft Built 1986

$498,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $310.86
  • 6 Days on Market
  • MLS # : PW21012076
  • Updated Date : 01/21/2021 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kase Real Estate

Listing Agent's Description

The Neighborhood Gem is now available! This Gorgeous Creekside Lake Community home features a double door grand entrance leading you to a sunken formal living room which opens to the dining room for fantastic family gatherings. The adjacent kitchen faces the family room with a fireplace to make movie night a delight. The extended open patio with lounge chairs and meticulously maintained landscaping features a water fountain and planters throughout the grounds, making this home a true entertainer’s dream house. It is clear to see that thousands of dollars were invested in this gorgeous backyard oasis. Heading upstairs the home opens up to the high ceiling & grand staircase. The master suite features an extra large bedroom with walk-in closet and a bathroom retreat. All 3 bathrooms have been remodeled with granite countertops and new sinks. The home also features an almost new roof, custom designed extended pantry, 2 car garage with built-in storage & custom lighting throughout the exterior. Feel the exclusivity as Creekside Lake Community features access to a private Lake with fishing, paddle boarding, 2 community pools, tennis courts and jogging trail. Only minutes away from Ontario International Airport, freeway access to the 60 & 15, and excellent schools right in the community. Come take a look, you will see the pride of ownership of this home. Opportunities like these rarely come available. By Appointment Only.

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MARKET HIGHLIGHTS

  • 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.
  • 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)

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
 

$448,200$547,800$498,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,730
Property Tax -$436
Property Insurance -$66
HOA -$84
Property Management Fees -$144
CASH FLOW
-$19

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.

$498,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.49%

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$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$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,089

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $2,439

    COMP ESTIMATED VALUE
  • $1.52

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,4003$2,4404$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2708 Blue Fox Drive Ontario, CA 3
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.52
    •  
  • 3119 E Milano U-e Ontario, CA 1
    • 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
    •  
  • 2624 Blue Fox Drive Ontario, CA 2
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.50
    •  
  • 2908 Laureltree Drive Ontario, CA 4
    • 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.48
    •  
  • 2531 Moosedeer Drive Ontario, CA 5
    • 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,618 Sqft ∙ Built 1988
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.61
    •  
PROPERTY LISTING DETAILS
Melvin Ortiz
Kase Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW21012076
Last Updated: 01/21/2021
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