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315 N Imperial Avenue Ontario, CA 91764

3 Beds 2 Baths 1,731 sqft Built 1979

$514,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $297.46
  • 3 Days on Market
  • MLS # : IG21019713
  • Updated Date : 01/29/2021 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,731 sqft
  • Baths : 2 full
Listing Agent

Active Realty

Listing Agent's Description

Come see this adorable home located in a nice Ontario neighborhood! Sitting on an oversized 8320 sq ft lot, this 3 bed /2 bath home has been recently remodeled. New laminate flooring throughout the living area, newer windows, new paint, new baseboards, recessed lighting, motion lighting for front and back and newer hardware. Bathrooms have recently been remodeled. Central heating and cooling. The kitchen features newer cabinets, and new granite countertops along with stainless steel appliances. Spacious living room with fireplace with a oversized Family and dinning area with vaulted ceiling. This home has just been professionally landscaped. Home has great parking and space for RV parking. Don't miss this wonderful opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

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
Mariposa Elementary School Primary Regular 739 34 3
Wiltsey Middle School Middle Regular 1,043 44 4
Colony High School High Regular 2,079 84 6

Mariposa Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 34
3
GreatSchools Rating

Wiltsey Middle School

  • Education Level: Middle
  • # of students: 1,043
  • # of teachers: 44
4
GreatSchools Rating

Colony High School

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

$463,410$566,390$514,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,788
Property Tax -$474
Property Insurance -$69
Property Management Fees -$136
CASH FLOW
-$167

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.

$514,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.45%

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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,199

INVESTMENT

$142,199

Down Payment
$128,725
Rehab Estimate
$5,750
Closing Costs
$7,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,788

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,725
Loan Amount $386,175
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$18,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,660

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,5004$2,500
$2,500
RENT COMPS ANALYSIS
  • 315 N Imperial Avenue Ontario, CA 2
    • 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,731 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
  • 8348 Main Street Rancho Cucamonga, CA 1
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 1977
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
  • 1361 N Hacienda Drive Ontario, CA 3
    • 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,999 Sqft ∙ Built 1981
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.25
    •  
  • 1831 E Granada Court Ontario, CA 4
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1963
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.79
    •  
PROPERTY LISTING DETAILS
Daniel Sievers
Active Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: IG21019713
Last Updated: 01/29/2021
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