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2733 S Marigold Avenue Ontario, CA 91761

4 Beds 3 Baths 1,969 sqft Built 1979

$585,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $297.11
  • 3 Days on Market
  • MLS # : IV20255208
  • Updated Date : 12/11/2020 at 15:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,969 sqft
  • Baths : 2 full , 1 half
Listing Agent

Summit Realty Partners Inc

Listing Agent's Description

Beautiful 4 bedroom, (one downstairs) 2.5 bath home with exquisitely updated kitchen and baths. Located in a great neighborhood with RV parking. The living room features cathedral ceilings and a gorgeous focal point fireplace that soars to the ceiling. Trey ceiling, recessed lighting, beautiful cabinetry, back splash and granite counter tops make for an inviting gourmet kitchen. The kitchen is open to the family room and includes a small breakfast bar for those meals on the run. The family room has easy keep tile flooring and is accented by crown molding. The downstairs bedroom works out perfectly for anyone who has difficulty with stairs. Upstairs your will find a good size master bedroom with double sinks, granite counter tops and a showroom custom tile shower. Two additional bedrooms complete the upper level. This home is located on a large lot with plenty of room for whatever you desire. EZ freeway access and shopping and dining nearby. We invite you to come take a l

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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: 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
Liberty Elementary School Primary Regular 698 27 7
Liberty Elementary School Middle Regular 698 27 7
Chino High School High Regular 2,369 99 5

Liberty Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 27
7
GreatSchools Rating

Liberty Elementary School

  • Education Level: Middle
  • # of students: 698
  • # of teachers: 27
7
GreatSchools Rating

Chino High School

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

$526,500$643,500$585,000

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$2,158
Property Tax -$535
Property Insurance -$75
Property Management Fees -$143
CASH FLOW
-$482

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.

$585,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.42%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,775

INVESTMENT

$160,775

Down Payment
$146,250
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,158

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,250
Loan Amount $438,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$7,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,530

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$2,430
1$2,4302$2,5003$2,6004$2,6505$2,750
$2,750
RENT COMPS ANALYSIS
  • 2733 S Marigold Avenue Ontario, CA 1
    • 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.23
    •  
  • 576 E Tam O Shanter Street Ontario, CA 2
    • 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,118 Sqft ∙ Built 1995
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
  • 2637 S Cucamonga Avenue Ontario, CA 3
    • 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
    •  
  • 1466 E Tam O Shanter Street Ontario, CA 4
    • 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 1979 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 1979
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.33
    •  
  • 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
Hugo Balarezo
Summit Realty Partners Inc
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20255208
Last Updated: 12/11/2020
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