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PROPERTY INFO
FACTS
- Single Family
- Built In 1987
- Price/Sqft : $316.50
- 4 Days on Market
- MLS # : PW21016351
- Updated Date : 01/29/2021 at 15:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,576 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Alliance
Listing Agent's Description
Gorgeous established pride of ownership describes Creekside Village, one of the most sought after communities in the city of Ontario. Step into a 3 bedroom, 3 bath home with 1,576 sq ft of living space with vaulted ceilings, cozy fireplace and plenty of natural light. Kitchen has Ceasarstone countertops, stainless steel appliances, walk-in pantry and plenty of cabinet space. The kitchen opens to an inviting den. A second story catwalk leads you to the large master with en-suite bathroom. The other 2 bedrooms are of a good size. Enjoy relaxing days under your covered patio. Other features include central AC & heat, inside laundry and oversized 2 car garage. Creekside amenities feature pools, tennis, basketball courts, park & trail. In close proximity to freeways (60) shopping, entertainment and more. Do not wait this home is sure to sell!
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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: Creekside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Creekside
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,150 |
| EXPENSES | Loan Payment | -$1,733 |
| Property Tax | -$436 | |
| Property Insurance | -$65 | |
| HOA | -$72 | |
| Property Management Fees | -$127 | |
|
CASH FLOW
-$283
|
||
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.
$498,800
PROJECTED PRICE
$2,150
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$137,932
LOAN DETAILS
$1,733
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $124,700 |
| Loan Amount | $374,100 |
2.5
YEARS SAVED
$10,227
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,150
LIST RENT -
$1.36
LIST RENT PER SQFT
-
$2,356
COMP ESTIMATED VALUE -
$1.5
COMP AVG. RENT PER SQFT
Comps Range
-
3610 Foxglen Loop Ontario, CA 2
- 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,576 Sqft ∙ Built 1987
- Rent
- Rent Per SQFT
- $2,150
- $1.36
-
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
-
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
-
2908 Laureltree Drive Ontario, CA 5
- 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,721 Sqft ∙ Built 1987
LEASED 11/07/20- Rent
- Rent Per SQFT
- $2,550
- $1.48
PROPERTY LISTING DETAILS
Coldwell Banker Alliance
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: PW21016351
Last Updated: 01/29/2021
