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354 N Clifford Avenue Rialto, CA 92376

3 Beds 1 Baths 1,053 sqft Built 1928

$365,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1928
  • Price/Sqft : $346.63
  • 4 Days on Market
  • MLS # : 20673138
  • Updated Date : 01/02/2021 at 07:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,053 sqft
  • Baths : 1 full
Listing Agent

Dynasty Real Estate

Listing Agent's Description

UPDATED HOME WITH NEWLY INSTALLED CENTRAL AIR/HEAT SYSTEM. DUAL PANE WINDOWS. OPEN LIVING ROOM WITH NEW RECESSED LIGHTING. FRESH NEW THICK CARPET IN LIVING ROOM AND ALL BEDROOMS. REPAIRED AND REFINISH KITCHEN CABINETS. ONE FULL BATHROOMS. RE-GLAZED BATHTUB. REPAIRED PLUMBING/ELECTRICAL. NEW LIGHT FIXTURES. LAUNDRY INSIDE. TWO CAR DETACHED GARAGE WITH ROLL UP GARAGE DOOR. HOUSE HAS BEEN FRESHLY PAINTED IN/OUT WITH BEAUTIFUL COLOR TONES. FHA/VA/CALHAFA/DOWN PAYMENT ASSISTANCE-OK!

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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: Rialto

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k459k

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

Neighborhood: Rialto

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q210001100120013001400150016001700180019002000Rent in $9112044

* 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
Werner Elementary School Primary Regular 914 33 4
Rialto Middle School Middle Regular 1,252 56 2
Eisenhower High School High Regular 2,456 99 4

Werner Elementary School

  • Education Level: Primary
  • # of students: 914
  • # of teachers: 33
4
GreatSchools Rating

Rialto Middle School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 56
2
GreatSchools Rating

Eisenhower High School

  • Education Level: High
  • # of students: 2,456
  • # of teachers: 99
4
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,347
Property Tax -$367
Property Insurance -$53
Property Management Fees -$114
CASH FLOW
$60

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.

$365,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$33,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.84

    LIST RENT PER SQFT
  • $2,138

    COMP ESTIMATED VALUE
  • $2.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,100
$2,100
RENT COMPS ANALYSIS
  • 354 N Clifford Avenue Rialto, CA 1
    • 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1928 3 beds 1 baths ∙ 1,053 Sqft ∙ Built 1928
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.84
    •  
  • 683 E Merrill Avenue Rialto, CA 2
    • 3 beds 2 baths ∙ 1,037 Sqft ∙ Built 1926 3 beds 2 baths ∙ 1,037 Sqft ∙ Built 1926
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $2.03
    •  
PROPERTY LISTING DETAILS
Eran Fattal
Dynasty Real Estate
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: 20673138
Last Updated: 01/02/2021
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