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3225 E Midsummer Privado #3 Ontario, CA 91762

3 Beds 3 Baths 1,344 sqft Built 2018

$439,888

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $327.30
  • 5 Days on Market
  • MLS # : CV21007935
  • Updated Date : 01/14/2021 at 07:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Chavez Real Estate Services

Listing Agent's Description

Beautiful Turnkey Brookfield Ontario Ranch Smart home 2 story Condo. This Turnkey Smart home consists of plenty of upgrades which include plantation shutter throughout, ceiling fans in all bedrooms & great room, upgraded flooring in the entire downstairs as well as all bathroom areas upstairs. The kitchen presents beautiful Quartz countertops, upgraded kitchen Dove Grey Cabinets, Large Farmhouse style sink, peninsula pendant fixtures & all top of the line Kitchen Aid appliances which include double oven stove, microwave & dishwasher as well as Samsung Washer and Dryer. The downstairs has a beautiful spacious Dinning Room & Great Room. All bedrooms are carpeted & located on the second level. The upstairs guest & master restroom contain upgraded stone countertops with large square sinks. The master bedroom consist of a his & her sink with a spacious walk in closet. HOA amenities include a clubhouse, family pool with beach entry, jacuzzi, lap pool, kids splash zone, super playground, BBQ pavilion, firepit, performance stage, multiple picnic bench areas, basketball courts, outdoor fitness station, Tot Lot, Dog park & much much more all accessed by your very own fob. This home has been occupied by a single owner, the upstairs guest restroom & corner bedroom are untouched! This home will not last as it is in pristine model home condition!

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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 Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $144k584k

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

Neighborhood: Ontario Ranch

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q212001400160018002000220024002600Rent in $10762618

* 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
 

$395,899$483,877$439,888

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,528
Property Tax -$386
Property Insurance -$60
HOA -$256
Property Management Fees -$112
CASH FLOW
-$442

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.

$439,888

PROJECTED PRICE

$1,900

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,320

INVESTMENT

$122,320

Down Payment
$109,972
Rehab Estimate
$5,750
Closing Costs
$6,598

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,972
Loan Amount $329,916
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,067

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $1,982

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,2503$2,3004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3225 E Midsummer Privado Ontario, CA 1
    • 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,344 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.41
    •  
  • 5846 Ginger Dr Eastvale, CA 2
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 2017
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.46
    •  
  • 3265 E Midsummer Privado Ontario, CA 3
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 2019
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.50
    •  
  • 3160 E Yountville Drive Ontario, CA 4
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.42
    •  
  • 3926 S Toronto Paseo Ontario, CA 5
    • 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 2018 4 beds 3 baths ∙ 1,640 Sqft ∙ Built 2018
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.52
    •  
PROPERTY LISTING DETAILS
Janice Chavez
Chavez Real Estate Services
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21007935
Last Updated: 01/14/2021
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