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2940 Stallion Way Ontario, CA 91761

4 Beds 4 Baths 2,670 sqft Built 1990

INVESTimate

$649,000

List Price

$2,700

$2,450 - $2,950

Rent Est.

$701,309  ( +8.06%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $243.07
  • 6 Days on Market
  • MLS # : IV20169314
  • Updated Date : 08/21/2020 at 11:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,670 sqft
  • Baths : 2 full , 2 half
Listing Agent

West Coast Realty

Listing Agent's Description

IMPRESSIVE CUL-DE-SAC POOL HOME!! LARGE 10,000sqft LOT, Property features 4 bedrooms 3 1/2 baths, (SEPARATE MOTHER-IN-LAW QUARTERS INCLUDES BATHROOM & KITCHEN) Formal Living room, Family room w/ Fireplace, Kitchen w Granite Counters, Master Suite, Plantation Shutters w Dual Pane Windows, Covered Patio, RV Parking and Access Great for large family in need of separate guest quarters for additional cash flow

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
Ranch View Elementary School Primary Regular 586 21 6
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Ranch View Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 21
6
GreatSchools Rating

Grace Yokley Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 33
6
GreatSchools Rating

Colony High School

  • Education Level: High
  • # of students: 2,079
  • # of teachers: 84
6
GreatSchools Rating
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,395
Property Tax -$579
Property Insurance -$92
Property Management Fees -$159
CASH FLOW
-$525

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.

$649,000

PROJECTED PRICE

$2,700

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$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$8,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,884

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,6004$2,6505$2,700
$2,700
RENT COMPS ANALYSIS
  • 2940 Stallion Way Ontario, 5
    • 4 beds 4 baths ∙ 2,670 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,670 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
  • 2926 Roan Street Ontario, 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.04
    •  
  • 3692 S Grey Fox Lane Ontario, 2
    • 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1989
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 3548 Old Archibald Range Ontario, 3
    • 5 beds 3 baths ∙ 2,391 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,391 Sqft ∙ Built 1990
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.09
    •  
  • 3549 Old Archibald Ranch Road Ontario, 4
    • 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,322 Sqft ∙ Built 1990
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Ricardo Pineda
West Coast Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IV20169314
Last Updated: 08/21/2020
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