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3626 Palomino Court Ontario, CA 91761

4 Beds 3 Baths 2,583 sqft Built 1996

$750,000

List Price

$2,730

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $290.36
  • 3 Days on Market
  • MLS # : PW20255297
  • Updated Date : 12/11/2020 at 13:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,583 sqft
  • Baths : 3 full
Listing Agent

Empire Realty Team

Listing Agent's Description

Welcome to this immaculate big sized home that lies in the Archibald Ranch neighborhood of Ontario. The homeowner has taken pride in keeping this home clean and well kept for a healthy living. Right as you walk into the home you will see the high vaulted ceilings where the Dining and main living room are located. The family room provides a great spacious area as well as a cozy fireplace. By the kitchen you will notice the separated wet bar and breakfast bar area as well as the island with built in wine rack. As you walk throughout the house you will notice the oversized windows that bring in great natural lighting. Master Bedroom comes with its own private fireplace, walk-in closet and Jacuzzi tub with jets. Other interior features include a central vacuum system, alarm system, washer dryer room and surround sound system in the family room which can be heard throughout the whole house. The exterior features for this property include the permitted patios, rose garden, flower beds, block walls, wrought iron gates, extra storage shed, automatic sprinkler system and last but not least a huge driveway for plenty of cars as well as RV parking. With such a great location comes easy access to freeways with the 60fwy, 15fwy, and 10fwy all being about a 10 minute drive. Other easily accessible places are the Schools, convention center, Ontario airport, UPS, Fedex and Amazon Hub centers. If you are looking to grow your family or just need bigger space, look no further!

SEE MORE

MARKET HIGHLIGHTS

  • 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.
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k477k

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

Neighborhood: Ontario

NeighborhoodNIR Market*CityMarket2010Year2000 Q22019 Q2100011001200130014001500160017001800190020002100Rent in $9112126

* 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
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,457$3,003$2,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,730
EXPENSES Loan Payment -$2,767
Property Tax -$674
Property Insurance -$90
Property Management Fees -$161
CASH FLOW
-$962

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.

$750,000

PROJECTED PRICE

$2,730

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.76%
Appreciation Year (1-5) 8.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,730

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,757

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,5004$2,6005$2,730
$2,730
RENT COMPS ANALYSIS
  • 3626 Palomino Court Ontario, CA 5
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,730
    • $1.06
    •  
  • 2926 Roan Street Ontario, CA 1
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 1995
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.04
    •  
  • 3080 E Black Horse Drive Ontario, CA 2
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1991
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 3692 S Grey Fox Lane Ontario, CA 3
    • 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1989
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 3548 Old Archibald Range Ontario, CA 4
    • 5 beds 3 baths ∙ 2,391 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,391 Sqft ∙ Built 1990
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
Eddie Villalobos
Empire Realty Team
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: PW20255297
Last Updated: 12/11/2020
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