Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

363 E 2nd Street Rialto, CA 92376

3 Beds 2 Baths 1,078 sqft Built 1957

$400,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $371.06
  • 12 Days on Market
  • MLS # : CV21051116
  • Updated Date : 03/19/2021 at 05:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,078 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Leaders

Listing Agent's Description

Lovely home located near Downtown Rialto. This well maintained home features 3 bedrooms, 1.5 baths with an attached 2 car garage. The living room is a good size. Plus, it has a nice size kitchen and an adjacent dining room. Home also has a separate laundry room. The home's lot size is 7,140. It has near the 10 FWY, 210 FWY, and 215 FWY.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Casey Elementary School Primary Regular 860 30 2
Frisbie Middle School Middle Regular 1,229 48 2
Eisenhower High School High Regular 2,456 99 4

Casey Elementary School

  • Education Level: Primary
  • # of students: 860
  • # of teachers: 30
2
GreatSchools Rating

Frisbie Middle School

  • Education Level: Middle
  • # of students: 1,229
  • # of teachers: 48
2
GreatSchools Rating

Eisenhower High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,389
Property Tax -$466
Property Insurance -$53
Property Management Fees -$99
CASH FLOW
-$508

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.

$400,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.38%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $1,261

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,500
$1,500
RENT COMPS ANALYSIS
  • 363 E 2nd Street Rialto, CA 3
    • 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,078 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.39
    •  
  • 413 W Jackson Street Rialto, CA 1
    • 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,248 Sqft ∙ Built 1971
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.14
    •  
  • 432 W Jackson Street Rialto, CA 2
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 1971
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.20
    •  
PROPERTY LISTING DETAILS
Blanca Acosta
Coldwell Banker Leaders
Darryl John Willis
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
California Regional Multiple Listing Service ( CRMLS)
MLS #: CV21051116
Last Updated: 03/19/2021
BESbswy