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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $295.79
- 5 Days on Market
- MLS # : WS21022249
- Updated Date : 02/06/2021 at 10:58
CONSTRUCTION
- Beds : 3
- Floor Size : 1,758 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Signature Rlty
Listing Agent's Description
Located in the beautiful community of Park Place in Ontario Ranch, this turnkey home is a must see! Featuring 3 bedrooms and 2.5 baths, the home has luxury wood plank tiles throughout the first floor and lots of natural light throughout. First level offers a spacious family room, dining room, and a gourmet kitchen with granite countertops, classic white cabinetry, and premium appliances. Upstairs has 3 spacious bedrooms, 2 full baths, and a laundry room. Large master suite has dual vanities, tub/shower, and a walk-in-closet. Attached two car garages and a beautifully landscaped courtyard for entertaining guests. Community features a pool, club house, gym, playgrounds, and picnic areas. Easy access to the 15 and 91 freeway and close to all shops, markets, and restaurants. Come see this gem before it's SOLD!
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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 Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ontario Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,470 |
| EXPENSES | Loan Payment | -$1,806 |
| Property Tax | -$611 | |
| Property Insurance | -$70 | |
| HOA | -$187 | |
| Property Management Fees | -$146 | |
|
CASH FLOW
-$349
|
||
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.
$520,000
PROJECTED PRICE
$2,470
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 8.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| 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
$143,550
LOAN DETAILS
$1,806
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $130,000 |
| Loan Amount | $390,000 |
1.92
YEARS SAVED
$6,565
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,470
LIST RENT -
$1.41
LIST RENT PER SQFT
-
$2,461
COMP ESTIMATED VALUE -
$1.4
COMP AVG. RENT PER SQFT
Comps Range
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3137 E Chip Smith Way Ontario, CA 2
- 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2016
- Rent
- Rent Per SQFT
- $2,470
- $1.41
-
3221 E Olympic Drive Ontario, CA 1
- 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018
LEASED 12/22/20- Rent
- Rent Per SQFT
- $2,400
- $1.34
-
3107 E Chip Smith Way Ontario, CA 3
- 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,758 Sqft ∙ Built 2015
LEASED 07/01/20- Rent
- Rent Per SQFT
- $2,500
- $1.42
-
3165 E E Olympic Dr Ontario, CA 4
- 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2019
LEASED 12/15/20- Rent
- Rent Per SQFT
- $2,550
- $1.42
-
3185 E Painted Crescent Street Ontario, CA 5
- 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2018
LEASED 09/27/20- Rent
- Rent Per SQFT
- $2,600
- $1.42
PROPERTY LISTING DETAILS
Keller Williams Signature Rlty
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: WS21022249
Last Updated: 02/06/2021
