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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $406.00
- 3 Days on Market
- MLS # : CV20244440
- Updated Date : 11/20/2020 at 20:33
CONSTRUCTION
- Beds : 4
- Floor Size : 1,416 sqft
- Baths : 2 full
Listing Agent
Century 21 Experience
Listing Agent's Description
More pics to come!! Be the first to see this perfect family home and write an offer before it is gone. The home has a nice airy layout with livingroom open to the kitchen. The kitchen is a family style layout that has been beautifully upgraded. There are cabinets for miles. There are 4 spacious bedrooms and 2 baths in this move-in ready home. Rustic stone floors throughout this cozy home. The master bedroom can accommodate a king size bed with multiple dressers. It also has a walk-in closet. Thats not all..... step outside to your backyard oasis to enjoy many nights under the patio or in the spa after a long day at work. California is unique, to where you can use your pool almost all year round! Invite the family over and the kids will play in the pool for hours. Parking is endless with enough room for multiple cars/toys.
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MARKET HIGHLIGHTS
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,080 |
| EXPENSES | Loan Payment | -$2,121 |
| Property Tax | -$532 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$123 | |
|
CASH FLOW
-$757
|
||
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.
$574,900
PROJECTED PRICE
$2,080
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$158,099
LOAN DETAILS
$2,121
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $143,725 |
| Loan Amount | $431,175 |
0.33
YEARS SAVED
$338
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,080
LIST RENT -
$1.47
LIST RENT PER SQFT
-
$2,064
COMP ESTIMATED VALUE -
$1.46
COMP AVG. RENT PER SQFT
Comps Range
-
2863 S Sandpiper Avenue Ontario, CA 1
- 4 beds 2 baths ∙ 1,416 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,416 Sqft ∙ Built 1983
- Rent
- Rent Per SQFT
- $2,080
- $1.47
-
2844 S Marigold Avenue Ontario, CA 2
- 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1982
LEASED 03/26/20- Rent
- Rent Per SQFT
- $2,100
- $1.57
-
702 E Skylark Street Ontario, CA 3
- 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
-
228 E Banyan Street Ontario, CA 4
- 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,538 Sqft ∙ Built 1978
LEASED 11/02/19- Rent
- Rent Per SQFT
- $2,300
- $1.50
-
2808 S Cascades Ontario, CA 5
- 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
PROPERTY LISTING DETAILS
Century 21 Experience
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: CV20244440
Last Updated: 11/20/2020
