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2744 Cottonwood Trail Ontario, CA 91761

3 Beds 2 Baths 1,440 sqft Built 1977

$499,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $346.53
  • 6 Days on Market
  • MLS # : CV21037958
  • Updated Date : 02/27/2021 at 14:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Re/max Top Producers

Listing Agent's Description

Come and make this house your Home! Has a huge yard and this house has been well kept. Large front yard with 2 car garage. Family room with gas fire place or use wood if you wish. Two good sized rooms and Master bedroom with master bathroom. Master leads to the backyard patio. Enjoy a medium sized kitchen with own Laundry closet. At the back of the home there is a huge Family room/Den for entertaining and sliding door leads to backyard and covered patio. Back yard has multiple fruit trees and Avocado tree. No one behind you and only one home one next door. Property has block walls on all sides. HVAC and water heater recently replaced and has solar system to keep the electricity bills low! System in a under power pay program , not leased so no qualification needed.

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
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
 

$449,100$548,900$499,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,733
Property Tax -$451
Property Insurance -$62
Property Management Fees -$126
CASH FLOW
-$242

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.

$499,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $1.48

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $1.5

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,1503$2,1754$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 2744 Cottonwood Trail Ontario, CA 1
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1977
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $1.48
    •  
  • 2784 E Oak Hill Drive E Ontario, CA 2
    • 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.52
    •  
  • 3119 E Milano U-e Ontario, CA 3
    • 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 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Luis Rodriguez
Re/max Top Producers
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21037958
Last Updated: 02/27/2021
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