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PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $350.66
- 2 Days on Market
- MLS # : TR21035755
- Updated Date : 02/20/2021 at 12:18
CONSTRUCTION
- Beds : 4
- Floor Size : 1,520 sqft
- Baths : 2 full
Listing Agent
Century 21 Care
Listing Agent's Description
This 4 bedroom, 2 bathroom single story home located on a very peaceful Cul-de-sac. Open and comfortable floor plan. Large living room with a fireplace. Dining area opens to the spacious kitchen. There are 3 good size bedrooms to the right side of hall way. Covered front with lava pebbles makes easy mainternance. Space for RV parking. Centrally located to the 60,10, 15 freeways, very close to the elementary school, park, golf course and Ontario Mills Mall.
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MARKET HIGHLIGHTS
- 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.
- 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)
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 | $2,170 |
| EXPENSES | Loan Payment | -$1,851 |
| Property Tax | -$484 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$128 | |
|
CASH FLOW
-$357
|
||
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.
$533,000
PROJECTED PRICE
$2,170
PROJECTED RENT
0.41%
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
$146,995
LOAN DETAILS
$1,851
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $133,250 |
| Loan Amount | $399,750 |
2.17
YEARS SAVED
$7,775
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,170
LIST RENT -
$1.43
LIST RENT PER SQFT
-
$2,204
COMP ESTIMATED VALUE -
$1.45
COMP AVG. RENT PER SQFT
Comps Range
-
2935 E Brookside Court Ontario, CA 2
- 4 beds 2 baths ∙ 1,520 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,520 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $2,170
- $1.43
-
2840 Oak Creek Drive Ontario, CA 1
- 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,472 Sqft ∙ Built 1984
LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,100
- $1.43
-
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
-
2650 S Desert Forest Avenue Ontario, CA 4
- 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
-
2624 Blue Fox Drive Ontario, CA 5
- 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
PROPERTY LISTING DETAILS
Century 21 Care
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: TR21035755
Last Updated: 02/20/2021
