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2863 S Whispering Lakes Lane Ontario, CA 91761

4 Beds 3 Baths 1,944 sqft Built 1962

$550,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1962
  • Price/Sqft : $282.92
  • 2 Days on Market
  • MLS # : CV20231538
  • Updated Date : 11/02/2020 at 18:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,944 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pama Management, Inc.

Listing Agent's Description

house with lots of potential, close to freeways.

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
Levi H. Dickey Elementary School Primary Regular 503 17 4
Woodcrest Junior High School Middle Regular 416 19 6
Chino High School High Regular 2,369 99 5

Levi H. Dickey Elementary School

  • Education Level: Primary
  • # of students: 503
  • # of teachers: 17
4
GreatSchools Rating

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
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$2,029
Property Tax -$503
Property Insurance -$74
Property Management Fees -$153
CASH FLOW
-$160

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.

$550,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.47%

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-$5.0k$0.0$5.0k$10k$15k$20k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$26,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,620

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3753$2,4004$2,6005$2,650
$2,650
RENT COMPS ANALYSIS
  • 2863 S Whispering Lakes Lane Ontario, CA 4
    • 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1962 4 beds 3 baths ∙ 1,944 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.34
    •  
  • 2650 S Desert Forest Avenue Ontario, CA 1
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1977
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 2522 E Richmond Street Ontario, CA 2
    • 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1978
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.30
    •  
  • 2808 S Cascades Ontario, CA 3
    • 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
    •  
  • 1466 E Tam O Shanter Street Ontario, CA 5
    • 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
    •  
PROPERTY LISTING DETAILS
Michael Garcia
Pama Management, Inc.
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV20231538
Last Updated: 11/02/2020
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