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2921 S Meadowbrook Place Ontario, CA 91761

4 Beds 2 Baths 1,540 sqft Built 1976

$599,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $389.55
  • 5 Days on Market
  • MLS # : CV21038265
  • Updated Date : 02/24/2021 at 16:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Excellence Foothill Properties

Listing Agent's Description

South Meadowbrook Place sets the standard for pride of ownership. Immaculate, completely remodeled, 4 bedroom, 2 bath home is located in a quiet, commuter-friendly neighborhood near shopping, dining, airport, M-Link rail & freeways. 1540 sq.ft. of welcoming amenities. Beautiful kitchen features modern stainless appliances, double stainless sink, dropped cherry cabinets & granite counters. New energy-efficient windows, fresh paint, laminate-wood & neutral faux-stone tile flooring throughout. Wood plantation shutters provide privacy & natural light in the oversized living room. Dining room features a floor to ceiling brick fireplace and a glass slider looking out to the incredible backyard. 4 airy bedrooms 2 remodeled baths both feature new tile showers, new toilets, and freestanding vanities and granite counters. Large master suite is washed with natural light from the sliding glass door overlooking the pool area. Two sliding closets, ceiling fan & master bath features a lovely step-in tile shower. Beautiful landscaping in the front yard & peaceful oasis in the backyard has two large covered patios, sparkling in-ground pool with raised spillover spa and two-level pool deck with stained concrete & brick accents with a permanent, covered shade structure next to the pool. Tropical palm trees provide a perfect backdrop to the view of the mountains. Shed is included. 2 car garage is completely finished & has washer & gas dryer hookups. 36 ft RV parking with 30AMP hookups.

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
Woodcrest Junior High School Middle Regular 416 19 6
Chino High School High Regular 2,369 99 5

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
 

$539,910$659,890$599,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$2,084
Property Tax -$549
Property Insurance -$64
Property Management Fees -$131
CASH FLOW
-$608

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.

$599,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.37%

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

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$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1.44

    LIST RENT PER SQFT
  • $2,410

    COMP ESTIMATED VALUE
  • $1.57

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2203$2,7004$2,7005$2,795
$2,795
RENT COMPS ANALYSIS
  • 2921 S Meadowbrook Place Ontario, CA 2
    • 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,540 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.44
    •  
  • 2844 S Marigold Avenue Ontario, CA 1
    • 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
    •  
  • 2639 S Calaveras Place Ontario, CA 3
    • 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,733 Sqft ∙ Built 1979
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.56
    •  
  • 1450 E Merion Court Ontario, CA 4
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1983
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.60
    •  
  • 2614 E Richmond Street Ontario, CA 5
    • 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1978 4 beds 3 baths ∙ 1,826 Sqft ∙ Built 1978
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.53
    •  
PROPERTY LISTING DETAILS
Cynthia Vanover
Excellence Foothill Properties
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21038265
Last Updated: 02/24/2021
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