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2864 S Sandpiper Avenue Ontario, CA 91761

3 Beds 2 Baths 1,339 sqft Built 1983

INVESTimate

$469,900

List Price

$1,960

$1,764 - $2,156

Rent Est.

$507,774  ( +8.06%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $350.93
  • 14 Days on Market
  • MLS # : PW20165174
  • Updated Date : 08/20/2020 at 09:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,339 sqft
  • Baths : 2 full
Listing Agent

Nationwide Real Estate Execs

Listing Agent's Description

Welcome to this beautiful 3 bedrooms, 2 bathrooms single-story home in Ontario. This home is move-in ready, boasting tons of tasteful upgrades, a remodeled interior, and vaulted ceilings. As you enter the home, you will be greeted with lots of natural lighting and cozy fireplace. Enjoy cooking decadent meals in your spacious kitchen. The kitchen features lots of storage space and glass cabinet doors. Step out back to your private, low maintenance backyard equipped storage shed and a beautiful view of the mountains. The master suite is spacious with double entry doors, dual closets, dual sinks and a full bathroom. Extended 2-car garage, newer dual-paned windows, central A/C, custom wooden shutters and much, much more. Walking distance to shopping, transportation, dining, and entertainment. This home is a must-see!

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
 

$422,910$516,890$469,900

PURCHASE PRICE

$1,764$2,156$1,960

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,734
Property Tax -$435
Property Insurance -$60
Property Management Fees -$116
CASH FLOW
-$384

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.

$469,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,274

INVESTMENT

$130,274

Down Payment
$117,475
Rehab Estimate
$5,750
Closing Costs
$7,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,475
Loan Amount $352,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$6,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,1003$2,2504$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 2864 S Sandpiper Avenue Ontario, 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $1.46
    •  
  • 2844 S Marigold Avenue Ontario, 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, 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, 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
    •  
  • 2619 S Dover Place Ontario, 5
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1978
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.50
    •  
PROPERTY LISTING DETAILS
Ben Gomez
Nationwide Real Estate Execs
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20165174
Last Updated: 08/20/2020
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