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2724 S Lassen Avenue Ontario, CA 91761

4 Beds 3 Baths 1,993 sqft Built 1979

$624,950

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $313.57
  • 4 Days on Market
  • MLS # : IG21028974
  • Updated Date : 02/11/2021 at 13:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,993 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group West

Listing Agent's Description

Welcome to this 4 Bedroom, 2 1/2 Bathroom Pool Home. This 1993 sq ft, 3 Car Garage Beauty Offers many Upgrades Throughout. Enter the home to a Vaulted Ceiling in Living Room/Formal Dining Room area, with a quaint fireplace for those cooler evenings..... Upgraded Kitchen with Custom Cabinets and Granite Countertops opening to a spacious Family Room with a Built in Wet Bar, overlooking the Exceptional Resort Style Pool and Backyard... Large Master Bedroom Highlights the Upstairs with spacious secondary bedrooms...... And There Is More!!!!-Manicured Front Yard Landscaping equipped with Lighting which accents the Tall Palms and House Exterior in the evening.... Solar Included-Buyer Owned(No Lease payments)..... All of this in a very Desirable Area of Ontario, close to Schools, Shopping, Restaurants and Freeways..... Home will not Last............

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: 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
Woodcrest Junior High School Middle Regular 416 19 6
Chino High School High Regular 2,369 99 5

Woodcrest Junior High School

  • Education Level: Middle
  • # of students: 416
  • # of teachers: 19
6
GreatSchools Rating

Chino High School

  • Education Level: High
  • # of students: 2,369
  • # of teachers: 99
5
GreatSchools Rating
 

$562,455$687,445$624,950

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,171
Property Tax -$578
Property Insurance -$75
Property Management Fees -$147
CASH FLOW
-$481

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.

$624,950

PROJECTED PRICE

$2,490

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,362

INVESTMENT

$171,362

Down Payment
$156,238
Rehab Estimate
$5,750
Closing Costs
$9,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,238
Loan Amount $468,713
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,513

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,686

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4904$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 2724 S Lassen Avenue Ontario, CA 3
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.25
    •  
  • 702 E Skylark Street Ontario, CA 1
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1979
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.37
    •  
  • 2808 S Cascades Ontario, CA 2
    • 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,732 Sqft ∙ Built 1976
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.39
    •  
  • 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
    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
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.31
    •  
PROPERTY LISTING DETAILS
Robert Russo
Realty One Group West
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21028974
Last Updated: 02/11/2021
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