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3201 Crystal Lake Court Ontario, CA 91761

3 Beds 3 Baths 1,398 sqft Built 1987

$499,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $357.65
  • 3 Days on Market
  • MLS # : CV21004812
  • Updated Date : 01/08/2021 at 17:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,398 sqft
  • Baths : 2 full , 1 half
Listing Agent

Kw Vision

Listing Agent's Description

Situated at the end of the cul-de-sac, don’t miss this beautiful two story, turn-key home. The high vaulted ceilings and windows provide ample natural light upon entry. The beautiful wood laminated flooring throughout the formal living room and fireplace & mantle, provides the home a modern and updated look that is carried through into the newly updated kitchen. Attached to the kitchen is an area for dining, or depending on your needs, an extra family room space. The lower level has two walk outs to the back yard, which has a great side patio perfect for evenings outside by the bbq. Also, downstairs is a 1/2 bathroom and direct access to the two-car garage and laundry hookups. Upstairs are three good-sized bedrooms, including the master bedroom with an ensuite bath with newer double vanities and a tub/shower combo. This community offers great amenities like pools, playgrounds, tennis, basketball & volleyball courts, clubhouse and even a fishing lake. Living in this home, will feel like a resort! This home won’t last!

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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: Creekside

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Creekside

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q211001200130014001500160017001800190020002100220023002400Rent in $10762496

* 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
Creek View Elementary School Primary Regular 629 23 5
Grace Yokley Middle School Middle Regular 928 33 6
Colony High School High Regular 2,079 84 6

Creek View Elementary School

  • Education Level: Primary
  • # of students: 629
  • # of teachers: 23
5
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
 

$449,999$549,999$499,999

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 -$1,737
Property Tax -$437
Property Insurance -$61
HOA -$84
Property Management Fees -$136
CASH FLOW
-$155

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.

$499,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

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$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $374,999
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$18,774

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
  • $1.65

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $1.51

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1754$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3201 Crystal Lake Court Ontario, CA 5
    • 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,398 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.65
    •  
  • 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
    •  
  • 2784 E Oak Hill Drive E Ontario, CA 2
    • 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,414 Sqft ∙ Built 1994
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.52
    •  
  • 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
    •  
  • 3913 Yuba River Drive Ontario, CA 4
    • 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,401 Sqft ∙ Built 1987
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.57
    •  
PROPERTY LISTING DETAILS
Sarah Dykema
Kw Vision
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21004812
Last Updated: 01/08/2021
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