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3233 E Olympic Drive Ontario, CA 91762

3 Beds 3 Baths 1,794 sqft Built 2018

$530,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $295.43
  • 3 Days on Market
  • MLS # : DW21040268
  • Updated Date : 02/27/2021 at 19:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,794 sqft
  • Baths : 2 full , 1 half
Listing Agent

Multi Service Realty

Listing Agent's Description

Wonderful PUD completely detached located on a Cul-de -sac in a private community. Open concept kitchen with center island and granite counter top. Recessed lighting Solar system included Community pool available for those hot summer days Unit was built in 2018 and is move in ready.

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 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
 

$477,000$583,000$530,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,841
Property Tax -$465
Property Insurance -$71
HOA -$150
Property Management Fees -$149
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.

$530,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.48%

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$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$19,997

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,512

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5204$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 3233 E Olympic Drive Ontario, CA 3
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.40
    •  
  • 3160 E Yountville Drive Ontario, CA 1
    • 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2017
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.42
    •  
  • 3221 E Olympic Drive Ontario, CA 2
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 2018
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.34
    •  
  • 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
    property image
    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
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.42
    •  
PROPERTY LISTING DETAILS
Jorge Marciano
Multi Service Realty
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: DW21040268
Last Updated: 02/27/2021
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