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2732 Chaparral Street Ontario, CA 91761

3 Beds 3 Baths 2,410 sqft Built 1989

INVESTimate

$578,888

List Price

$2,490

$2,241 - $2,739

Rent Est.

$625,546  ( +8.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $240.20
  • 6 Days on Market
  • MLS # : TR20171452
  • Updated Date : 08/21/2020 at 09:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,410 sqft
  • Baths : 2 full , 1 half
Listing Agent

Advantage Real Estate

Listing Agent's Description

IMMACULATE SOUTH ONTARIO HOME. HARDWOOD FLOORS AND FRESH PAINT DOWNSTAIRS. TRAVERTINE IN KITCHEN. BREAKFAST BAR. STOVE IS 1 YEAR NEW. ALL APPLIANCES INCLUDED. 2 FAMILY ROOMS. BACK FAMILY ROOM IS HUGE WITH 3 CEILING FANS. CAN BE USED AS PLAYROOM AND OR OFFICE. FRENCH DOORS LEAD TO LARGE COVERED PATIO WITH CEILING FANS.LARGE SIDE YARD WITH PLENTY OF ROOM FOR KIDS TO PLAY. AVOCADO TREE. A/C IS 4 YEARS NEW. WATER HEATER IS 2 YEARS NEW. 3 CAR GARAGE. SMALLER FAMILY ROOM HAS FIREPLACE. MASTER BEDROOM HAS BARN DOOR WALK IN CLOSET. ALL BEDROOMS HAVE CEILING FANS AND CUSTOM CLOSET SHELVING. MIRRORED CLOSET DOORS. ALARM SYSTEM AND RING SYSTEM. NEWER DUAL PANED WINDOWS.

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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
Ranch View Elementary School Primary Regular 586 21 6
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Ranch View Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
6
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
 

$520,999$636,777$578,888

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$10k-$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$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$2,136
Property Tax -$520
Property Insurance -$86
Property Management Fees -$147
CASH FLOW
-$399

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.

$578,888

PROJECTED PRICE

$2,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.06%
Maintenance Year (1-5) 8.00%
Vacancy 5.41%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,155

INVESTMENT

$159,155

Down Payment
$144,722
Rehab Estimate
$5,750
Closing Costs
$8,683

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,722
Loan Amount $434,166
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,337

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
  • $1.03

    LIST RENT PER SQFT
  • $2,591

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4903$2,4954$2,5005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2732 Chaparral Street Ontario, 2
    • 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,410 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.03
    •  
  • 3669 Burning Tree Drive Ontario, 1
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
  • 2926 Roan Street Ontario, 3
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.04
    •  
  • 3080 E Black Horse Drive Ontario, 4
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1991
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 3549 Old Archibald Ranch Road Ontario, 5
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Michael Lynn Falls
Advantage Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: TR20171452
Last Updated: 08/21/2020
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